Homeowners Insurance terms starting with E

8 terms

1. Earned premium The portion of a policy premium that has been used to actually buy coverage, or that the insurance company has "earned.
2. Earthquake Insurance A type of catastrophic coverage available for an additional premium to repair or replace your property/personal belongings when damaged by an earthquake.
3. Effective Date The date on which an insurance policy becomes effective.
4. Endorsement Amendment to the policy used to add, change, or delete coverage. Also referred to as a “rider.”
5. Escrow A financial instrument held by a third party on behalf of the other two parties in a transaction.
6. Exclusion A contractual provision in an insurance policy that denies or restricts coverage for certain perils, persons, property or locations.
7. Exclusions Specific situations or circumstances listed in your policy describing when benefits will not be paid.
8. Expiration date The date on which an insurance policy expires.