Additional living expenses (ALE) – helps cover extra costs when you have to live somewhere else because your home was damaged.
Claim–a request made to an insurance company to pay for damage or injury.
Claims adjuster– reviews the loss to figure out what is covered under the policy, if liability exists, and how much is owed.
Coverage– the damage or injuries an insurance company agrees to pay for under the policy.
Deductible – if you have a claim, the amount of the deductible is subtracted from your claim payment. It can be found on the declarations page of your policy.
First-party claim–a claim filed by you against your own insurance policy.
Liability–when you are responsible for other people’s injuries or damage to their property.
Policy–a contract between you and the insurance company. The policy tells you what’s covered and what the insurance company is required to pay.
Policy period–the period of time your policy provides coverage.
Premium–the amount you pay an insurance company for your policy.
Third-party claim–a claim you file against another person’s insurance policy or a claim someone files against your policy.
