A percentage or dollar amount added to a homeowner’s insurance policy to limit an insurer’s exposure to loss from a hurricane. Higher deductibles are instituted in higher risk areas, such as coastal regions. Specific details, such as the intensity of the storm for the deductible to be triggered and the extent of the high risk … Read more Hurricane Deductible
The typical homeowners insurance policy covers the house, the garage and other structures on the property, as well as personal possessions inside the house such as furniture, appliances and clothing, against a wide variety of Perils including windstorms, fire and theft. The extent of the Perils covered depends on the type of policy. An all-risk … Read more Homeowners Insurance Policy
Coverage for goods in transit, and for the commercial vehicles that transport them, on water and over land. The term may apply to inland marine but more generally applies to ocean marine insurance. Covers damage or destruction of a ship’s hull and cargo and Perils include collision, sinking, capsizing, being stranded, fire, piracy, and jettisoning cargo … Read more Marine Insurance
A set of rules adopted by the representatives of all the leading maritime nations to govern the method of applying General Average.