Homeowners Insurance — page 2 of 2

108 terms

Homeowners Insurance terms

  1. Surplus lines Coverage from out-of-state companies not licensed in Texas but legally eligible to sell insurance on a "surplus lines" basis.
  2. Third Party Administrator (TPA) (TPA) An organization that performs managerial and clerical functions related to an employee benefit insurance plan by an individual or committee that is not an…
  3. Third-party claim A claim filed against another person’s insurance policy.
  4. Umbrella Liability Insurance A policy that "floats" above your other coverage. You must carry a certain amount of underlying liability coverage before you may buy an umbrella policy.
  5. Underwriter An individual in an insurance company who determines what insurance risks will be accepted and on what terms.
  6. Underwriting The purchase for resale of a new issue of securities by an investment dealer or group of dealers.
  7. Unearned premium The portion of the premium for the remaining time period that the policy will not be in force.
  8. Watercraft Endorsement Applies to small motorboats and sailboats and broadens your personal liability and medical payments coverage on them.

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