1.
Replacement cost minus depreciation (age, wear).
2.
A request to your insurance company to pay for a covered loss.
3.
The amount you pay out-of-pocket before insurance coverage begins.
4.
Cost to repair or replace property with new materials of similar quality, without deduction for depreciation.
5.
The insurer's right to recover money from a third party responsible for a loss.
6.
Dwelling: Covers the physical structure of the home, including attached structures.
7.
Other Structures: Protects detached structures like sheds, fences, or detached garages.
8.
Personal Property: Covers personal belongings (furniture, clothes, electronics) inside the home.
9.
Loss of Use/Additional Living Expenses (ALE): Pays for extra living expenses (hotel, food) if you cannot live in your home due to a covered claim.
10.
Personal Liability: Protects you if you are legally responsible for injuries or damages to others.
11.
Medical Payments to Others: Covers small medical bills for guests injured on your property, regardless of fault.
12.
(Hints: There are coverage types A-F)
