Concierge Insurance.
From Start to Claim™
Common terms from your policies — short definitions, examples, and which coverages they relate to.
10 terms
Occupancy is the use of a building or premises, such as residential, office, retail, restaurant, manufacturing, or vacant.
Occupancy 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 Property, General Liability. For business insurance customers, understanding Occupancy 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 Occupancy depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
An occupational disease is an illness caused by work-related exposure or employment conditions over time.
Occupational Disease 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 Workers Compensation. For business insurance customers, understanding Occupational Disease 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 Occupational Disease depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
An occurrence is an accident, event, or repeated exposure to substantially the same harmful conditions that results in covered injury or damage.
Occurrence 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, Homeowners, Umbrella. For personal insurance customers, understanding Occurrence 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 Occurrence depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
An occurrence policy responds to covered injury or damage that occurs during the policy period, even if the claim is reported later.
Occurrence Policy 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, Homeowners, Umbrella. For personal insurance customers, understanding Occurrence Policy 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 Occurrence Policy depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Open perils coverage insures against direct physical loss unless the cause is specifically excluded.
Open Perils 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, Commercial Property, Inland Marine. For powersports insurance customers, understanding Open Perils 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 Open Perils depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Ordinance or law coverage helps pay increased costs to repair, rebuild, demolish, or upgrade property to comply with current building codes after a covered loss.
Ordinance or 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 Homeowners, Commercial Property, Condo. For personal insurance customers, understanding Ordinance or 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 Ordinance or Law Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
OEM parts coverage involves use of original manufacturer parts for vehicle repairs, subject to policy terms.
Original Equipment Manufacturer Parts 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 Original Equipment Manufacturer Parts 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 Original Equipment Manufacturer Parts depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Other structures coverage applies to detached structures such as garages, sheds, fences, or guest houses, subject to policy limits.
Other Structures 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 Homeowners, Dwelling Fire. For personal insurance customers, understanding Other Structures 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 Other Structures Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
An out-of-pocket maximum is the most an insured pays for covered healthcare expenses during a plan year before the plan pays covered benefits at 100 percent.
Out-of-Pocket Maximum 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 Health Insurance. For benefits insurance customers, understanding Out-of-Pocket Maximum 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 Out-of-Pocket Maximum depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Outdoor signs coverage insures signs attached to buildings or located outdoors, often with separate limits.
Outdoor Signs 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 Outdoor Signs 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 Outdoor Signs Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
