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

	Occupancy	Property insurance rates reflect the way the property is used. In general, "owner occupied" homeowner's policies are less expensive than "non-owner occupied" policies.
	Off Premises	Coverage you can obtain for personal property or "contents" which are away from the principle insured property. In most cases, the amount of this coverage is limited to a percentage of the property's total coverage.
	Other Structures	Generally detached structures, such as a garage or tool shed, sharing property with the insured dwelling. Under a homeowner's policy, "other structures" are automatically covered for 10% of the limit chosen for Coverage A.
	Ownership	The Personal Auto Policy covers cars owned by an individual, or a husband and wife residing in the same household. These requirements exclude coverage for cars owned by businesses or groups of people.