Homeowners policy
a policy that provides coverage for a family's home, personal possessions, and liability that arises out of the many activities of family members. Several homeowner's forms provide varying degrees of coverage for different types of homeowners and tenants
Insurance services office (ISO)
an advisory organization that provides various services to insurance companies, including the development and filing of standardized insurance forms
Additional living expenses
the extra costs of maintaining a family's standard of living while the family's residence is being repaired or rebuilt following a covered loss. Covered by homeowners policies.
Functional replacement cost
the cost to repair or replace damaged real property with less costly construction materials and methods that are functionally equivalent to the old construction
Dwelling policy
one of a series of policies for the insurance of dwellings. Te forms are somewhat less comprehensive than homeowners policies and can be used for dwellings that do not meet certain homeowners standards
Mobile home insurance
insurance coverage, similar to homeowners insurance, that provides coverage to owner-occupants or mobile homes
National flood insurance program (NFIP)
a federal program that provides property insurance for the peril of a flood
FAIR (Fair Access to Insurance Requirements) plans
a state-run program to provide property insurance, within limits, if a property owner is unable to obtain coverage in the standard marketplace. The actual coverage is usually written by a pool or a syndicate of private insurers
Floater
a property insurance policy to provide broad insurance protection on property that is subject to being moved
Personal articles floater
an open perils policy for certain scheduled and valuable items of personal property owned by an individual or a family
Personal property floater
a policy to provide open-perils coverage for unscheduled personal property worldwide
Personal effects floater
a policy to provide open perils worldwide coverage for baggage, clothes, cameras, and other items common worm or carried by tourists
Title insurance
protection for the purchaser of real estate against defects in title that occurred prior to the effective date of coverage but are discovered after the effective date