|
|
| Word |
Definition |
|
|
| Additional Living Expense |
Fire damage or other covered loss could increase your living costs—you may be paying for a hotel, restaurant meals or laundromat, for example. In a standard homeowner policy, Loss of Use (Coverage D) will reimburse you for any additional living expenses incurred by you in an attempt to maintain a normal standard of living if your home is made uninhabitable by a covered peril. See Loss of Use. |
|
|
|
|
|
| Appurtenant Structure |
In a property insurance policy, "appurtenant structures" are buildings on the same premises as the main, insured building. Appurtenant structures, like garages or barns on your property, are usually covered by a homeowners insurance policy. |
|
|
|
|
|
| Arbitration Clause |
In your property insurance contract, the arbitration clause provides a means for settlement when you and your insurer cannot agree on an acceptable claim payment. Appraisers representing each party select a neutral arbitrator; a judgment by any two of these three constitutes a binding settlement. |