Insurance terms starting with E

13 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. Elevated Building A building that has no basement and has its lowest elevated floor raised above the ground level by foundation walls, shear walls, posts, piers, pilings…
5. Elevation Certificate A certificate that verifies the elevation data of a structure on a given property relative to the ground level.
6. Emergency Program The initial phase of a community's participation in the National Flood Insurance Program.
7. Enclosure That portion of an elevated building below the lowest elevated floor that is either partially or fully shut-in by rigid walls.
8. Endorsement Amendment to the policy used to add, change, or delete coverage. Also referred to as a “rider.”
9. Escrow A financial instrument held by a third party on behalf of the other two parties in a transaction.
10. Exclusion A contractual provision in an insurance policy that denies or restricts coverage for certain perils, persons, property or locations.
11. Exclusions Specific situations or circumstances listed in your policy describing when benefits will not be paid.
12. Expiration date The date on which an insurance policy expires.
13. Extraordinary Medical Benefits This coverage pays when medical and rehabilitation expenses exceed $100,000. It provides a maximum of $1 million of coverage.