A policy which covers an Insured against all risks of loss or damage which are not otherwise excluded under the policy.

Insurance to cover temporary accommodation if a home becomes uninhabitable.

Latin for "from the beginning".

A sudden unforeseen and unintended event.

An unpreventable event caused by the forces of nature.

The total amount of money an Insurer will pay under a policy for claims arising within a specific period of time, despite the number of claims. Usually relates to liability insurance.

The value of an insured item, agreed between an Insured and the Insurer at the beginning of a period of cover, which does not change throughout the period of cover.

The amount of premium which must be paid annually to keep a policy fully in force.

A request or proposal for insurance submitted by or on behalf of a person seeking cover.

A clause in an insurance contract which restricts the amount of a claim paid out by an insurer where the sum insured at the time of a loss is less than the insurable value of the insured item (i.e. is underinsured). The value of the claim will be reduced in proportion to the amount the item is underinsured, in order to reflect the underinsurance.