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Auto
& Homeowner's Insurance Glossary
Definitions
offered in this section are meant to provide generic insurance information
to consumers. They are not complete descriptions of all terms, exclusions
and conditions applicable to the products and services offered by
Electric Insurance. The terms and conditions of the policies issued
are controlling in all cases. Product availability varies by state.
A
| B | C
| D | E
| F | G
| H | I
| J | K | L
| M | N
| O | P
| Q | R
| S | T
| U | V
| W
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Named
Perils |
Named
Perils Insurance covers specific perils listed in a policy, as
opposed to a Special Form Policy (such as an HO3) that covers
all perils except the ones excluded by name in the policy. |
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National
Flood Insurance Program (NFIP) |
A
program reinsured by the United States government to provide flood
insurance for fixed property. The NFIP writes policies directly
and offers reimbursement to private carriers offering flood insurance. |
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No
Fault |
See
PIP (Personal Injury Protection) |
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