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Definition |
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| FAIR |
An acronym for "Fair Access to Insurance Requirements," FAIR offers insurance to people in high-risk areas who might otherwise be denied coverage. Reinsured by the United States government, FAIR is a pooling plan with policies for fire and allied perils. |
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| Fire |
In property insurance, "fire" refers to the unintentional or "hostile" occurrences of flame and combustion. Damage caused by fire in your fireplace, for instance, is not covered under your homeowner policy. However, if your rug was ignited by a spark from that same fireplace, you would be covered. |
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| Fire Resistive Construction |
This is building construction using fire-resistive materials in the roof, floors and exterior walls. Also, see Modified Fire-Resistive Construction. |
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| Fire Wall |
A Fire Wall is designed to contain or seal off fires in a building. |
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| Fireproof |
Unfortunately, no one can make a building completely undamageable by fire. Today, insurers use the term "fire-resistive" to describe buildings which are practically resistant to most fire damage. |
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| Flood |
A flood is a temporary submersion, partial or complete, of ordinarily dry land by water or mud. Floods are typically caused by an overflow of waters, whether inland, tidal or from any accumulated runoff from any source. Flood is excluded under a typical homeowner insurance policy. |
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| Flood Insurance |
A Flood Iinsurance Policy covers property owners from losses caused by floods or flooding and is usually offered in conjunction with a Government Flood Insurance Plan. |
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| Frame Construction |
This is the most common form of housing construction. Frame buildings are made primarily of wood frames and joists. |