Homeowners Insurance terms starting with B

3 terms

1. Binder A temporary or preliminary agreement, in effect for less than 60 days, that provides coverage until a policy can be written or delivered.
2. Broker An agent who handles the public's orders to buy and sell securities, commodities or other property. A commission is generally charged for this service.
3. Builders Risk Coverage for a home under construction. Claim payments are based on the percentage completed at time of loss.