click below
click below
Normal Size Small Size show me how
Chaper 14
| Term | Definition |
|---|---|
| Appraisal | An expert's determination of the value of a piece of property |
| Claim | Formal request made to an insurance company for payment for a loss |
| Deductible | The amount you pay off a number of smaller loans |
| Liability Insurance | Insurance that protects you from losses that you cause others |
| Market Value | Amount an item is worth now |
| Policy | Insurance contract |
| Premium | Regular payment required to purchase insurance |
| Rider | Special addition to an insurance policy that covers a specific loss not covered in the standard policy |
| Umbrella Policy | Insurance that provides additional liability protection beyond that in an automobile or homeowner's policy |