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In the policy there are definitions of the terms used, check there first. This depends on the context of the term. In most cases relating to insurance damage could mean.......injury or harm that reduces value or usefulness-the estimated money equivalent for detriment or injury sustained-injure or harm; reduce the value or usefulness of...hope that helps....
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What does the term letting insurance refer to?
The term letting insurance refers to the insurance a landlord has for property they are renting. It covers damage to the property either through accident or natural disaster.
What are the pros for short term insurance?
One good thing about short term insurance is that you do not need to pay as much as long term insurance would need. One bad thing is that once insurance is out and you get into a dilemma after it expires, you need to pay for the full damage.
What does collision mean in economics?
The term collision in insurance covers the cost of damage to a car that is the fault of the insured. Collision insurance does not cover any damage caused from vandalism or theft.
What does the term 'insurance collision' mean?
Insurance collision is a form of automobile insurance that covers physical damage. In most situations the insurer pays for the insured injuries, damage to the vehicle of the insured, and if the insured is at fault it pays for the damage to the other vehicle, and the other driver.
What is meant by the term contents and buildings insurance?
Contents and buildings insurance is insurance that covers any damage or loss that happens to a persons home and the contents inside. Contents and Building Insurance is usually sold with Home Insurance.
What is meant by the term deductible?
The term deductible, when discussing insurance issues, applies to the amount of money you must pay out of pocket before your insurance coverage will pay for a claim. For example, if you have a $500 deductible on your homeowner's insurance policy and you have $1,000 worth of hail damage, you must pay your $500 deductible towards the damage and your insurance policy will kick in to pay the remaining $500 for repairs.
What is term insurance best for?
Insurance might be cover to your life or body or any asset, provided when you have any damage to them, It is financial guarantee the subject that is being insured
When was Hanwha Damage Insurance created?
Hanwha Damage Insurance was created in 1946.
Will your insurance company pay for your damage if you have insurance but no valid registration?
If the insurance is in effect when the damage occurred, the lack of registration shouldn't matter.
What is the definition of the term 'reimbursed'?
Reimbursed means getting paid for items that were damage. It could be items that were destroyed in a weather situation or if you had insurance on that item.
What is the difference between renewable term insurance and regular term insurance?
Renewable term allows you to renew at the end of the term. Regular term insurance does not guarantee you that right.
Will insurance cover tree removal due to foundation damage Have lived in the for 7years and had the same insurance.?
You would have to review your policy to be certain but in most cases I would unfortunately say No, they will not pay for that. Insurance is simply there to assist you in the event that an event occurs that causes damage to your property. Typically they will consider a tree root causing damage to a foundation to be a long term event and therefore not meeting the definition of a covered loss.
