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- 704 S State Rd 135 Suite D #421, Greenwood, 46143, IN
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- Premiums. When you purchase an insurance policy, you'll be required to make regular payments, known as premiums. These payments are typically made monthly or annually and are the cost of maintaining your insurance coverage.
- Deductible. Think of a deductible as the money you have to shell out from your own pocket before your insurance kicks in to help cover your expenses. It's like the upfront cost you need to cover before your insurance really starts working for you.For example, if you have a $500 deductible and make a claim for $1,000, you'll need to pay $500, and your insurer will cover the remaining $500.
- Policyholder. The policyholder is the person who owns an insurance policy. This individual is responsible for paying premiums and making claims under the policy.
- Coverage Limit. Every insurance policy has a coverage limit, which is the maximum amount your insurer will pay out for a covered claim. It's crucial to understand your policy's limits to ensure you have adequate coverage.
This page provides a glossary of insurance terms and definitions that are commonly used in the insurance business. New terms will be added to the glossary over time. The definitions in this glossary are developed by the Research and Actuarial Department staff based on various insurance references. These definitions represent a common or general ...
Oct 25, 2023 · In some cases, HOAs can even require that owners pay a special assessment for necessary repairs or improvements. If the condo is still non-warrantable when the time comes to sell, the unit may appeal to a smaller pool of potential buyers. Standing outside the condo community, warrantable and non-warrantable properties may look exactly the same.
WARRANTABLE definition: 1. If an action is warrantable, there is a good reason for it. : 2. covered by a warranty (= a…. Learn more.
A condo association's insurance may cover liabilities, legal fees for non-money damage lawsuits, structural damage and employee dishonesty. “ [A non-warrantable condo lender is] still trying to make sure the condominium project is stable and has adequate insurance coverage, which is a big deal,” Baralt says.
WARRANTABLE definition: capable of being warranted | Meaning, pronunciation, translations and examples
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The meaning of WARRANTABLE is capable of being warranted : justifiable. How to use warrantable in a sentence.
