BROWN O'HAVER Adjusters For THe Insured

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Insurance Dictionary

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A B C D E F G H I J L M N O P R S T U W

ENDORSEMENT - A form that gives the language to use to change the terms of the policy to fit different circumstances.

ESTIMATE - This is an itemized statement of the probable cost to repair property, such as an automobile damage estimate or an estimate to repair damage to a burned building.

EXCESS LETTER - This is a form letter written by the insurance company or adjuster advising the insured of the amount that he or she is being sued for and informing him that this amount exceeds the amount of his insurance coverage.

EXCLUSIONS - These are causes, conditions or property listed in the policy which the policy does not cover.

EXPERIENCE - This is the loss record of an insured, a class of coverage, or of an insurance company.

EXPIRATION - The date the policy stops covering the insured.

EXPIRE - This is the Termination of a Term policy at the end of the term period.

EXPOSURE - (1) The state of being subject to the possibility of loss; (2) the extent of risk as measured by payroll, gate receipts, area, or otherwise; (3) the possibility of loss to a risk being caused by its surroundings; and (4) the surroundings producing the possibility of loss to a risk being caused by its surroundings.

EXTENDED COVERAGE ENDORSEMENT - This is usually attached to a Standard Fire policy and usually provides coverage for windstorm, hail, explosion, riot, riot attending a strike, aircraft, vehicular damage, and smoke.

EXTRA EXPENSE COVERAGE FORM - This form was made to cover the extra expenses the business needs to remain in operation after a property loss.

EXTRA EXPENSE INSURANCE - This insurance provides the extra funds a business needs after damage, but it does not assume any loss of income.

A B C D E F G H I J L M N O P R S T U W

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