Glossary
Insurance claim jargon, translated.
201 terms organized by topic. Use the category sections to browse, or search anytime with ⌘K.
201 pages in this collection
Coverage
84What your policy covers, what it excludes, and the language carriers use to draw the line.
Actual Cash Value
The depreciated value of damaged property.Additional Insured
A person or entity added to a policy for limited coverage.Additional Living Expense
Covers temporary lodging and expenses when your home is uninhabitable.Agreed Value
Policy coverage at a pre-established value, not current market value.All-Other-Perils Deductible
The standard flat-dollar deductible for non-hurricane/storm perils.Appurtenant Structures
Structures on your property attached or functionally related to the main dwelling.Binder
Temporary coverage document until policy is issued.Blanket Coverage
A single limit applies across multiple locations or coverage categories.Builder's Risk
Insurance for property under construction.Builders Risk
Insurance during construction.Business Interruption
Coverage for lost income when property damage halts business.Business Personal Property
Contents owned for business use.Cancellation
Termination of policy before expiration.Citizens Depopulation
Transfer of Citizens policies to private market.Co-Insured
Another person listed on the policy with coverage rights.Coinsurance
Penalty for underinsurance at loss time.Contractors Pollution Liability
Coverage for pollution caused during construction work.Coverage A
Dwelling coverage for the structure of your home.Coverage B
Other Structures coverage.Coverage C
Personal Property coverage.Coverage D
Additional Living Expense.Coverage E
Personal Liability coverage.Coverage F
Medical Payments to Others.Covered Cause of Loss
An event your policy explicitly covers.Debris Removal
Removal of damaged material from site.Declarations Page
The front page of your policy summarizing coverages and limits.Deductible
The amount you pay before coverage kicks in.DP-3 Policy
Dwelling policy for rental properties.Dwelling Form
Policy form type (HO-3, HO-5, HO-6, DP-3, etc.).Earthquake Endorsement
Optional endorsement adding earthquake coverage.Effective Date
The date coverage begins.Endorsement
A policy amendment that adds, removes, or modifies coverage.Endorsement Number
Identifier for specific policy endorsement.Exclusion
A specific peril or condition your policy does not cover.Exclusion Endorsement
An endorsement that removes coverage for specific perils.Experience Modifier
Rating adjustment based on claims history.Expiration Date
The date coverage ends unless renewed.Extended Replacement Cost
Coverage beyond Coverage A limit for rebuild.Fair Rental Value
Rent equivalent payable to landlords when a property is uninhabitable.First-Named Insured
Primary insured on policy with broadest rights.Forced Place Insurance
Policy a lender puts on your property when you lack coverage.Fortification Discount
Premium credit for hurricane-resistant construction.Geographic Concentration Risk
Carrier exposure to too many policies in one geographic area.HO-3 Policy
The most common Florida homeowners policy form.HO-5 Policy
Comprehensive homeowners policy with open peril on contents.HO-6 Policy
Condominium unit owner policy.Hurricane Deductible
A percentage-based deductible for named hurricanes.Insurable Value
Amount representing the property's insurable worth.Insurance Score
Credit-based score used to determine premium.Lloyd's Syndicate
Lloyd's of London underwriting group.Loss Assessment Coverage
Condo unit coverage for HOA special assessments after covered loss.Loss of Income
Coverage for income lost during restoration.Market Share
Percentage of the market held by a carrier.Mitigation Limit
Cap on reimbursable emergency mitigation expenses.Mold Sublimit
Cap on mold remediation coverage.Named Insured
The person explicitly listed on the policy declarations page.Named Peril
A specific listed cause of loss.Named Perils
Coverage for specific listed perils only.Non-Admitted Carrier
Insurer not licensed as admitted by the state.Non-Renewal
Carrier decision not to renew your policy at expiration.Open Peril
Coverage for all perils except those specifically excluded.Ordinance or Law
Coverage for code upgrades required during rebuild.Ordinance or Law Coverage
Pays for code-required upgrades during rebuild.Personal Property Replacement Cost
RCV coverage for contents.Policy Limit
The maximum your carrier will pay.Policy Period
The dates during which your policy is active.Policy Period Extension
Coverage continuation via endorsement.Premium
What you pay for coverage.Prior Approval Rate
Premium rate subject to OIR pre-approval.Property Schedule
Itemized list of covered property with specific values.Reasonable Rental Value
Market rental equivalent for loss-of-use calculations.Reinstatement
Restoration of a lapsed policy.Reinsurance
Insurance that carriers buy to limit their exposure.Repetitive Loss
Multiple losses on same property.Replacement Cost Value
The full cost to replace damaged property at current prices.Rider
Another term for endorsement, often used for scheduled items.Roof Payment Schedule
Age-based reduction of roof coverage.Scheduled Endorsement
Endorsement listing specific items or coverages.Scheduled Personal Property
Specific high-value items listed and insured above sublimits.Sublimit
A coverage cap within a broader coverage.Surplus Lines
Coverage from non-admitted carriers.Umbrella Policy
Supplemental liability coverage above your home and auto policies.Underinsurance
Coverage insufficient for full rebuild.Underwriting
The process of evaluating risk to issue a policy.
Process
34How a claim moves from notice to payment. What every step is actually called.
Adjuster's Field Note
Written observations the adjuster captures during inspection.Appraisal
A binding dispute resolution process for claim amount.Claim Number
The unique identifier the carrier assigns your claim.Claim Severity
Measure of claim size and complexity.Claims History
Record of your past insurance claims.CLUE Report
Comprehensive Loss Underwriting Exchange report of claim history.Company Adjuster
A carrier-employed adjuster who represents the carrier.Content Cleaning
Professional cleaning of damaged household items.Dehumidification
Active removal of moisture from damaged structures.First Notice of Loss
Your initial report of a claim to the insurance carrier.First-Party Claim
A claim you file against your own insurance policy.Hurricane Supplemental
Supplemental claim specifically for hurricane damage discovered later.Independent Adjuster
A contract adjuster hired by the carrier.Inspection
On-site assessment of damage by a carrier representative.Insurance Verification
Confirmation of active coverage at a specific point in time.Loss Settlement
Terms defining how the loss payout is calculated.Managing General Agent
Agent with authority to underwrite and bind coverage.Mitigation
Steps you take to prevent further damage after a loss.Mitigation Cost
Reimbursable expenses for emergency damage prevention.Open Claim
A claim that has been reported but not yet finally resolved.Ozone Treatment
Oxidation-based smoke and odor remediation.Pack-Back
Return of packed-out contents after property restoration.Pack-Out
Removal of contents from a damaged property for cleaning or storage.Partial Payment
Carrier advance before full settlement.Payment Milestones
Discrete payments tied to repair progress.Proof of Loss
A sworn statement detailing your claim.Public Adjuster
A state-licensed professional who represents policyholders.Quick-Pay Discount
Carrier offer of reduced settlement for rapid closure.Recorded Statement
A recorded interview about your claim.Reserve
Carrier-set aside funds earmarked for a claim.Temporary Repairs
Interim repairs pending full restoration.Thermal Fogging
Smoke remediation via heated chemical fog.Third-Party Claim
A claim filed against someone else's insurance policy.Wind Mitigation Form
OIR-B1-1802 inspection documentation.
Estimating
24Scope, pricing, depreciation, and the math carriers use to come up with a number.
Aftermarket Parts
Non-OEM materials used in repairs.Agreed Scope
Scope of loss that both parties have signed off on.Cost of Service
Labor rates used in estimates, by trade and region.Depreciation
The reduction in value from age or wear.Depreciation Schedule
The formula used to calculate depreciation on contents and materials.Estimate
Projected cost of repair.Labor Burden
Overhead added to labor costs in estimates.Line Item
A single entry in a scope of loss, with quantity and price.Matching
The legal requirement that repairs visually match the undamaged property.Materials Tax
Sales tax on materials component of estimate.Moisture Meter
Tool for measuring water content in materials.Non-Recoverable Depreciation
Depreciation you do not get back, regardless of repairs.O&P
Contractor overhead and profit, typically 20% added to estimates.Price List
Regional labor and material cost reference used in estimates.Rebuild Cost
Cost to reconstruct the home from foundation up.Recoverable Depreciation
Depreciation held back from ACV payment, released when repairs complete.Replacement Cost Estimator
Tool estimating rebuild cost.Sales Tax
Tax on material costs, added to estimates.Salvage
Value of damaged items the carrier recovers after paying the claim.Scope of Loss
The complete list of damaged items and their scope of repair.Scope Sheet
The carrier's itemized list of damages.Thermal Imaging
Infrared imaging that reveals hidden moisture and damage.Xactimate
Industry-standard insurance estimating software.Xactimate Update
Quarterly pricing update in Xactimate.
Damage
18How damage is described, classified, and disputed.
Accidental Discharge
Sudden water release covered as peril.Catastrophic Ground Cover Collapse
Mandatory-coverage sinkhole event.Category 3 Water
Highly contaminated water requiring specialized remediation.Code Upgrade
Repair component required by current building code.Consequential Loss
Damage resulting indirectly from a covered peril.Constructive Total Loss
Repair costs exceed the replacement value; settle at total loss.Dry Time
Duration and method for drying water-damaged materials.Frozen Pipe Damage
Water damage from burst pipes in freeze conditions.Partial Loss
Damage less than total.Pre-Existing Condition
Damage that existed before the loss event.Progressive Loss
Damage that worsens over time after initial event.Pure Loss
Damage where the item cannot be restored and must be replaced.Sinkhole Activity
Geological subsidence or settlement, coverage varies.Smoke Residue
Particulate and chemical byproducts of combustion.Total Loss
Damage at or exceeding the cost to replace the entire structure or item.Water Damage
Damage from water in any of several categories.Wear and Tear
Gradual deterioration, typically excluded from coverage.Wind-Driven Rain
Rain entering through a wind-created opening, typically covered.
Legal
41Florida statutes, doctrines, and the legal vocabulary that shows up in coverage disputes.
Appraisal Clause
Policy provision for binding dispute resolution on claim amount.Assignment of Benefits
A signed document transferring your claim rights to a contractor.Bad Faith
Insurer conduct that violates duties of good faith and fair dealing.Civil Remedy Notice
Statutory notice required before a bad-faith lawsuit.Concealment
Failure to disclose material information; can void coverage.Contingent Liability
Conditional coverage based on triggering events.Continuous Trigger
Coverage theory where multiple policy years share a progressive loss.Cure Period
Time carrier has to correct a violation after notice.Deemed Rejected
Claim rejection by operation of law.Demand Letter
Formal written demand for payment or action.Duty to Defend
Insurer obligation to defend insured in third-party claims.Efficient Proximate Cause
The dominant cause in a chain of causation.Examination Under Oath
A formal sworn examination, often required by policy.Examination Under Oath Waiver
Agreement to forgo the carrier's right to EUO.Florida Statute 626.854
Defines and licenses public adjusters in Florida.Florida Statute 626.9744
The matching statute.Florida Statute 627.70131
Sets carrier duties and deadlines.Florida Statute 627.70132
Sets the notice-of-claim deadlines.Florida Statute 627.7142
Homeowner Claim Bill of Rights.Florida Statute 627.7152
AOB restrictions and consumer protections.Good Faith
Duty of honest dealing.Grace Period
Time after premium due date during which policy remains in force.Hold Harmless Agreement
Agreement releasing a party from liability.Homeowner Claim Bill of Rights
Statutory rights summary for Florida policyholders.Insurable Interest
Right to insure; requires economic stake in the property.Make Whole Doctrine
Insurer must fully compensate before seeking subrogation.Matching Statute
Florida Statute 626.9744 requiring reasonable visual matching in repairs.Mediation Program
Florida-administered dispute resolution for property claims (FS 627.7015).Office of Insurance Regulation
Florida agency that regulates insurance carriers.Proximate Cause
The dominant cause of a loss in a chain of causation.Proximate Cause Chain
Sequence of events linking initial cause to final damage.Public Adjuster Contract
Written agreement establishing PA representation.Release
Settlement agreement terminating future claims.Reservation of Rights
Carrier notice preserving the right to deny coverage later.Statute of Limitations
Time limit to file a lawsuit.Structured Settlement
Payment over time instead of lump sum.Subrogation
Your carrier recovering from the at-fault party after paying your claim.Subrogation Waiver
Agreement to waive your right of subrogation.The Parrish Rule
A contingency-fee public adjuster cannot be a disinterested appraiser.Tortfeasor
Person or entity legally responsible for causing harm.Umpire
Neutral third party in the appraisal process.
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