Concierge Insurance.
From Start to Claim™
Common terms from your policies — short definitions, examples, and which coverages they relate to.
28 terms
Salvage is damaged property retained or sold after a claim payment, or the remaining value of property after a loss.
Salvage 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, Property, Marine. For powersports insurance customers, understanding Salvage 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 Salvage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A scheduled auto is a vehicle specifically listed on a commercial auto policy.
Scheduled Auto 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 Auto. For business insurance customers, understanding Scheduled Auto 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 Scheduled Auto depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Scheduled jewelry coverage lists specific jewelry items, often with broader coverage and lower or no deductible than standard personal property coverage.
Scheduled Jewelry 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, Renters, Personal Articles. For personal insurance customers, understanding Scheduled Jewelry 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 Scheduled Jewelry Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Scheduled personal property is valuable property specifically listed on a policy, often with broader coverage.
Scheduled Personal Property 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, Personal Articles. For personal insurance customers, understanding Scheduled Personal Property 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 Scheduled Personal Property depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Self insurance is retaining risk rather than transferring it fully to an insurer, often with reserves or formal programs.
Self 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 Commercial Insurance, Risk Management. For business insurance customers, understanding Self 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 Self Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A self-insured retention is the amount the insured must pay before insurance responds, often larger and more formal than a deductible.
Self-Insured Retention 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 Umbrella, Professional Liability, General Liability. For business insurance customers, understanding Self-Insured Retention 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 Self-Insured Retention depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Service line coverage insures certain underground utility lines such as water, sewer, gas, power, or communication lines owned by the insured.
Service Line 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. For personal insurance customers, understanding Service Line 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 Service Line Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Short rate cancellation returns unearned premium minus a penalty, often when the insured cancels before expiration.
Short Rate Cancellation 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 Short Rate Cancellation 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 Short Rate Cancellation depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Sinkhole coverage insures damage caused by sinkhole activity, subject to definitions, endorsements, inspections, and limits.
Sinkhole 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. For personal insurance customers, understanding Sinkhole 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 Sinkhole Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Social engineering fraud coverage applies when an employee is tricked into transferring money or property by fraudulent instructions, subject to verification rules.
Social Engineering Fraud 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 Cyber Liability, Crime Insurance. For business insurance customers, understanding Social Engineering Fraud 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 Social Engineering Fraud depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Soft costs are additional construction project expenses such as architectural fees, permits, legal fees, taxes, financing, or lost income.
Soft Costs 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 Builders Risk, Construction. For business insurance customers, understanding Soft Costs 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 Soft Costs depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Special event insurance provides short-term coverage for events such as weddings, festivals, fundraisers, or private gatherings.
Special Event 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 Special Event, General Liability. For business insurance customers, understanding Special Event 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 Special Event Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Special form property coverage generally insures direct physical loss unless the cause is excluded.
Special Form Property 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, Homeowners. For personal insurance customers, understanding Special Form Property 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 Special Form Property Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Spoilage coverage insures perishable stock damaged by temperature change, power outage, or equipment breakdown, subject to policy terms.
Spoilage 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, Equipment Breakdown. For business insurance customers, understanding Spoilage 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 Spoilage Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
The Springer Bundle combines home, auto, and umbrella liability insurance with one carrier to provide broader protection, fewer coverage gaps, and potential multi-policy savings.
The Springer Bundle is designed to simplify insurance protection by packaging home, auto, and personal umbrella liability coverage with a single insurance carrier. This bundled approach helps ensure that policies work together seamlessly, minimizing potential coverage gaps that can occur when multiple insurers are involved. In addition to improved protection and easier policy management, many carriers offer multi-policy discounts that may reduce overall insurance costs.
The Springer Bundle provides individuals and families with a convenient and effective way to protect their homes, vehicles, assets, and future financial security through coordinated coverage under one trusted insurer.
An SR-22 filing proves required auto liability coverage to a state for certain drivers.
SR-22 Filing 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 Personal Auto. For personal insurance customers, understanding SR-22 Filing 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 SR-22 Filing depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A staff adjuster is employed directly by an insurance company to handle claims.
Staff Adjuster 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 Staff Adjuster 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 Staff Adjuster depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Stated amount is a listed value for insured property that may limit payment but does not always guarantee that amount will be paid.
Stated Amount 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, Inland Marine. For powersports insurance customers, understanding Stated Amount 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 Stated Amount depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A statute of limitations is the legal deadline for filing a lawsuit or claim, varying by jurisdiction and claim type.
Statute of Limitations 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 Statute of Limitations 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 Statute of Limitations depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Stop gap coverage provides employers liability protection in monopolistic workers compensation states where state funds do not provide it.
Stop Gap 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 Workers Compensation. For business insurance customers, understanding Stop Gap 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 Stop Gap Coverage depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Strict liability can impose responsibility without proof of negligence, often for certain products, activities, or statutes.
Strict 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 Products Liability, Environmental. For business insurance customers, understanding Strict 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 Strict Liability depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A subcontractor is hired by a contractor to perform part of a project and often must meet insurance requirements.
Subcontractor 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 Contractors, General Liability. For business insurance customers, understanding Subcontractor 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 Subcontractor depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Subrogation is the insurer's right to pursue recovery from a responsible third party after paying a covered claim.
Subrogation 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, Property, Workers Compensation, General Liability. For business insurance customers, understanding Subrogation 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 Subrogation depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
A surety bond is a three-party agreement in which a surety guarantees that a principal will fulfill obligations to an obligee.
Surety 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, Contractors, Commercial. For business insurance customers, understanding Surety 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 Surety Bond depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
The obligee is the party requiring and benefiting from a surety bond.
Surety Obligee 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. For business insurance customers, understanding Surety Obligee 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 Surety Obligee depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
The principal is the party whose obligation is guaranteed by a surety bond.
Surety Principal 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. For business insurance customers, understanding Surety Principal 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 Surety Principal depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Surplus lines insurance is coverage placed with a non-admitted insurer when standard admitted markets are unavailable or unsuitable.
Surplus Lines 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 Commercial Insurance, Specialty Insurance. For business insurance customers, understanding Surplus Lines 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 Surplus Lines Insurance depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
Surrender value is the amount available if a permanent life policy is canceled after applicable charges and loans.
Surrender Value 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 Surrender Value 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 Surrender Value depends on the policy form, endorsements, limits, deductibles, exclusions, state law, and the facts of the loss or account.
