Insurance coverage that protects real and personal property from catastrophic losses caused by a variety of perils

• Property insurance

• Liability insurance

• Property loss

• Perils

Offers protection against the financial consequences that may arise from the insured's responsibility

• Liability insurance

• Property insurance

• Property loss

• Liability exposures

Economic loss due to property that is damaged, destroyed or stolen

• Property loss

• Liability exposures

• subrogation

• cash value

Result from negligence, which is failing to act in a reasonable manner or take necessary step.

• Liability exposures

• Liability insurance

• Property insurance

• Indemnity

You cannot profit from an insured loss (we cannot make a profit from insurance).

• Indemnity

• Subrogation

• Actual cash value

Replacement cost minus the value of physical depreciation which is estimated as percent of useful life

• Actual cash value

• Subrogation

• other insurance

• Indemnity

After insurance pays claim for us, their request reimbursement from either the person who caused the loss or that person's insurance company.

• Subrogation

• Actual cash value

• other insurance

All property and liability insurance contracts have an other-insurance clause, prohibiting insured person from insuring their property with two or more companies

• Other insurance

• Indemnity

• Subrogation

• Actual cash value

Commonly found in property insurance contracts, requires policyholder to buy insurance in an amount equal to a specified percentage.

• A provision

• Finance

A type of insurance that covers a specific set of perils.

• Name perils

• Perils

• Open perils