Concierge Insurance.
From Start to Claim™
Common terms from your policies — short definitions, examples, and which coverages they relate to.
19 terms
Labor law coverage relates to liability under labor laws, often important for construction risks in certain jurisdictions.
Labor Law Coverage is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with General Liability, Contractors. For business insurance customers, understanding Labor Law Coverage can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Labor Law Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Landlord insurance covers rental property owners for dwelling damage, landlord furnishings, liability, and sometimes rental income loss.
Landlord Insurance is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Landlord, Dwelling Fire. For personal insurance customers, understanding Landlord Insurance can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Landlord Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A lapse is an interruption or termination of coverage because premium was not paid, the policy was not renewed, or conditions were not met.
Lapse is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with All Insurance Types. For business insurance customers, understanding Lapse can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Lapse depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Leasehold interest coverage protects a tenant's financial interest in a favorable lease lost because of covered property damage.
Leasehold Interest Coverage is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Commercial Property. For business insurance customers, understanding Leasehold Interest Coverage can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Leasehold Interest Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Lessors risk only coverage is liability coverage for building owners who lease premises to tenants and have limited operations.
Lessors Risk Only is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with General Liability, Commercial Property. For business insurance customers, understanding Lessors Risk Only can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Lessors Risk Only depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A liability limit is the most a policy will pay for covered liability damages or defense obligations, depending on policy wording.
Liability Limit is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Liability, Auto, General Liability. For business insurance customers, understanding Liability Limit can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Liability Limit depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A license and permit bond guarantees compliance with laws, regulations, or license requirements imposed by a government agency.
License and Permit Bond is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Surety, Commercial. For business insurance customers, understanding License and Permit Bond can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of License and Permit Bond depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Life insurance pays a death benefit to beneficiaries when the insured person dies, subject to policy terms and exclusions.
Life Insurance is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Life Insurance. For benefits insurance customers, understanding Life Insurance can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Life Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Liquor liability covers businesses that sell, serve, or furnish alcohol against certain claims caused by intoxicated patrons.
Liquor Liability is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Liquor Liability, General Liability, Hospitality. For business insurance customers, understanding Liquor Liability can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Liquor Liability depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A liquor liability exclusion removes coverage for certain alcohol-related claims, especially for businesses selling or serving alcohol.
Liquor Liability Exclusion is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with General Liability, Hospitality. For business insurance customers, understanding Liquor Liability Exclusion can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Liquor Liability Exclusion depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Loan lease payoff helps pay part of the gap between a vehicle's value and the remaining loan or lease balance after a total loss.
Loan Lease Payoff is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Auto, Commercial Auto. For business insurance customers, understanding Loan Lease Payoff can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Loan Lease Payoff depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Long-term care insurance helps pay for extended care services such as nursing home care, assisted living, adult day care, or home health care.
Long-Term Care Insurance is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Long-Term Care. For benefits insurance customers, understanding Long-Term Care Insurance can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Long-Term Care Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Loss adjustment expense is the cost to investigate, adjust, defend, or settle claims.
Loss Adjustment Expense is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with All Insurance Types. For business insurance customers, understanding Loss Adjustment Expense can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Loss Adjustment Expense depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Loss assessment coverage may pay an insured's share of certain association assessments caused by covered property or liability losses.
Loss Assessment Coverage is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Condo, Homeowners, HOA. For personal insurance customers, understanding Loss Assessment Coverage can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Loss Assessment Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Loss control includes inspections, safety programs, training, and recommendations intended to reduce claim frequency or severity.
Loss Control is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Commercial Insurance, Workers Compensation. For business insurance customers, understanding Loss Control can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Loss Control depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Loss of use coverage helps pay additional living expenses or loss of rental value when a covered loss makes a residence unfit to live in.
Loss of Use is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Homeowners, Renters, Condo. For personal insurance customers, understanding Loss of Use can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Loss of Use depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A loss payee is a lender or other party with a financial interest in insured property that may receive claim payments.
Loss Payee is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Auto, Commercial Auto, Equipment, Property. For business insurance customers, understanding Loss Payee can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Loss Payee depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Loss ratio compares losses and loss adjustment expenses to premium and is used to evaluate profitability.
Loss Ratio is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Commercial Insurance, Personal Insurance. For business insurance customers, understanding Loss Ratio can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Loss Ratio depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Loss runs are reports showing an insured's claim history, often requested by underwriters when quoting commercial insurance.
Loss Runs is an important insurance concept because it can affect how coverage is selected, priced, interpreted, or applied at claim time. In practical terms, it helps explain what the policy may do, what the insured may be responsible for, or how the insurance company may evaluate a covered situation. This term is commonly associated with Commercial Insurance. For business insurance customers, understanding Loss Runs can make it easier to compare policies, ask better questions, avoid coverage gaps, and understand what may happen before, during, or after a claim. The exact impact of Loss Runs depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
