A person who owns and does not rent their home from another.

The current market value of lost or damaged property at the time of a covered loss. For example, the value of a three-year-old car is based on the value of similar three-year-old cars selling on a used car lot. In a home insurance policy, actual cash value is the replacement cost of the property, less depreciation.

An individual or organization covered by an insurance policy other than the named policyholder. In a car insurance policy, anyone who drives your car with your consent is an additional insured. In a home insurance policy, a mortgage company may be listed as an additional insured.

If you are temporarily unable to live in your home because of a covered loss, this is any reasonable and necessary increase in living expenses you incur so your household can maintain its normal standard of living.

An evaluation by a claims representative or appraiser to estimate the amount of damage to your property or vehicle, and the cost to repair the property or vehicle. In the worst-case scenario, a determination of a complete loss may be made.

In exchange for the payment of a premium, an insurance company agrees to pay most or all of the reasonable costs associated with an accident or other damage to a vehicle.

The lowest coverage amount for which an insurance policy can be written, as prescribed by law or an insurance company.

Liability coverage for financial protection against injury to the body of a person that results from an accident where the insured is alleged to be legally responsible.

A sudden, severe disaster that results in a large amount of damage and causes a high number of car and home insurance claims.

A request for payment or repair under an insurance contract due to a covered loss or accident.