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Glossary of Terms
Auto and 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.
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Accident |
A collision of a vehicle
with any object, for example, another vehicle, a fence or tree.
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Accidental Death Benefit |
A death benefit pays if bodily injury
causes the death of you or any family member within 24 months
from the date of a covered accident.
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Additional
Living Expense |
Fire or other damage caused by a
covered loss could increase your living costs-you may be paying
for a hotel, restaurant meals or laundromat, for example. In
a standard homeowner's 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, subject
to approval. See Loss of Use.
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All Risk |
An "All Risk" policy insures
against any and all losses that can happen to your home, except
those that are specifically excluded. However, the policy will
state that flood and earthquake are not covered and require
a separate endorsement.
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Anti-theft Devices |
A device that deters a vehicle from
being stolen, for example, a car alarm or a special key for
the ignition. Cars with hood locks and ignition alarms can save
up to 15% comprehensive premiums.
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Appurtenant Structure |
Detached buildings on the same premises
as the main, insured building. Appurtenant structures such as
garages or barns on your property are usually covered by your
homeowner's insurance policy.
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Arbitration Clause
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Policy provision that provides a
means for settlement when you and your insurer cannot agree
on an acceptable claim payment. A representative of each party
makes their case to a neutral arbitrator. The arbitrator makes
a final, binding decision after hearing all of the facts presented.
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At Fault Accidents |
A driver presumed to be more than
50% responsible for an accident is considered to be "at
fault" and his/her insurance premium is adjusted accordingly.
In accident cases where a driver is "cited" by the
police, that driver is automatically presumed to be "at-fault".
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Auto Policy Discounts |
You could pay a lower premium on
your auto insurance policy if you qualify for any of several
discounts offered Electric Insurance. Scroll to find the definitions
for Anti-theft Device, Driver Training, Defensive Driver, Good
Student, Multi-Car, and Safe Driver Discounts. |
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Basic
Reparations Benefit |
An optional coverage
that covers you, the members of your household and your passengers
for medical expenses, rehabilitation services, lost wages and
funeral expenses caused by auto accidents. Coverage and availability
varies by state and is not available in all states.
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Bodily Injury (BI) |
Bodily harm, sickness, or disease
sustained by any person as a result of an accident. Includes
required care and loss of services, as well as any costs associated
with resulting death.
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Bodily Injury Liability |
Pays damages awarded if you are
held legally responsible for injury or death caused by a vehicle
driven by you or by a covered family member. Single Limit Liability
and Split Limit Liability.
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Broad Theft Coverage |
An endorsement to a Dwelling Policy
that provides theft coverage for contents of a named insured,
owner occupant.
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Business Personal
Property |
Refers to items or contents owned
by your business or company. For example, a laptop you might
bring home over the weekend. Coverage is usually limited to
$2,350.
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Collision
Coverage |
Covers the physical
damage done to your car because of a collision with another
vehicle or object, regardless of who is at fault. Collision
does not cover bodily injury or property damage liability-it
protects your vehicle only, and is usually subject to a deductible.
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Comprehensive Coverage |
Sometimes called "Other than
Collision," Comprehensive Coverage pays for damages resulting
from fire, theft, vandalism, falling objects, hailstorms, floods,
and various other perils. For example, hitting a deer can cause
a lot of damage to your car-comprehensive takes care of it.
Loss of auto glass or windshield is also covered under Comprehensive.
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Comprehensive Loss |
Any damage done to a vehicle that
is caused by something other than a collision. This includes
damage to the vehicle by theft, vandalism, fire and flood. Glass
loss is a comprehensive loss.
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Coverage A |
Called "Dwelling", this
is the part of your homeowner's insurance policy that covers
the home itself-frame, flooring and fixed objects. The amount
of Coverage A should represent the cost to replace the structure
of your home in the event of total loss. Other coverages are
usually based on a percentage of Coverage A.
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Coverage B |
This part of your policy covers
"Other Structures"-barns, sheds, garages. Coverage
B is usually 10% of Coverage A (Dwelling Coverage) but can be
increased.
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Coverage C |
"Personal Property" covers
your belongings automatically for 50% of Coverage A.
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Coverage D |
"Loss of Use" takes into
account expenses you'll have if your home is uninhabitable because
of a covered loss. It pays for temporary lodging and living
expenses. Coverage D is usually 20% of Coverage A (Dwelling
Coverage). See also Additional Living Expense
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Coverage E |
"Personal Liability" covers
you for your legal responsibility for injury caused to others
whether on or away from your own property. The standard limit
is $100,000.
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Coverage F |
"Medical Payments" pays
medical costs if someone is injured on your property. A homeowner's
policy automatically covers $1,000. You can increase this coverage
in $1,000 increments, up to $5,000. In order to collect more
than this, the injured party must file for compensation under
Coverage E.
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Debris
Removal Clause |
While most property
policies cover only direct damages caused by an insured peril,
the "debris removal clause" covers the cost of removing
debris produced by the peril's occurrence. For example, a hurricane
sweeps through the state; a fallen tree will be removed only
if it lands on your house. Debris Removal reimburses you for
the cost of cleaning up all the broken limbs and rubble
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Declarations Page |
The declarations page tells you
who and/or what is covered by the insurance, the amount of coverage
purchased and the conditions-the "when" and "where"-covered
by the purchased insurance.
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Deductible |
This is the amount you agree to
pay out of your own pocket before the insurance company reimburses
you for damage expenses. If you had an accident with damages
totaling $1,700, and carry a $350 deductible on your collision
coverage, you would pay the first $350, and the insurance company
would cover the difference, the remaining $1,350. Raising the
amount of your deductible saves you money on the cost of your
insurance.
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Defensive Driver Discount |
In some states, individuals who
successfully complete an authorized defensive driver course
are eligible for further credits.
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Direct Loss |
This is damage or a loss resulting
as a direct consequence of an insured peril. For example, a
computer lost in a fire is a direct loss; the data destroyed
inside the computer is considered an indirect loss.
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Direct Writer |
An insurance company that offers
its policies directly to consumers through its own employees
is called a "direct writer." Electric Insurance is
a direct writer.
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Driver Training Discount |
Safety is the first rule of the
road. To encourage good driving habits in young people, drivers
under 21 who complete a driver-training course can often save
up to 15% on their insurance premiums. Discounts vary by state
and are typically good for 2-3 years.
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Dwelling Forms |
These are policies that cover a
residence dwelling or building, usually not owner-occupied,
and the personal property inside. You can buy dwelling forms
that vary by the degree of coverage they offer.
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DWI/DUI |
Driving While Intoxicated/Driving
Under the Influence.
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FAIR PLAN |
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 providing policies for fire and allied perils.
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Fair Rental Value |
This coverage pays for the rent
the building could have earned, less any discontinued expenses,
while the premises is not fit for occupancy. Refer to Coverage
D under your homeowner's or dwelling policy for more information.
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Financial Responsibility
Clause |
In your insurance agreement, the
financial responsibility clause shows that your policy conforms
to state financial responsibility requirements.
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Financial Responsibility
Required |
Drivers in most states are required
by law to demonstrate their ability to pay for bodily injury
or property damage for which they are responsible. In most cases,
this "financial responsibility" is fulfilled by purchasing
insurance with limits of liability equal to or greater than
the amounts required by the state. In some states, you must
carry proof of financial responsibility, in the form of an insurance
policy, before you can register a vehicle.
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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's policy.
But if your rug were ignited by a spark from that same fireplace,
you would be covered.
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Fire Resistive
Construction |
Building construction using fire-resistive
materials in its roof, floors and exterior walls. See also Modified
Fire-Resistive Construction.
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Fire Wall |
A wall designed to contain or seal
off fires in a building.
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Fireproof
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Unfortunately, no one can make a
building completely impervious to fire. Today, insurers use
the term "fire-resistive" to describe buildings that
are practically resistant to most fire damage.
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Flood |
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's insurance policy.
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Flood |
Insurance Policies sold to cover
property owners from losses caused by floods or flooding, usually
offered in conjunction with a government flood insurance plan
and reinsured by the federal government.
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Frame Construction |
The most common form of housing
construction, frame buildings are made primarily of wood frames
and joists.
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Full/Limited Tort
Threshold Options |
Limited Tort, if selected, applies
to the named insured and other household members. The tort threshold
determines when an insured may sue for damages. While Full Tort,
if selected, does not put a limitation on when an insured may
sue for damages.
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Funeral Expenses |
Funeral or burial expenses actually
incurred if "bodily injury" causes an "insured's"
death within 24 months from the date of a covered accident.
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Garaging
Location |
When is a garage not
a garage? In this case, it refers to where you usually keep
your car when you're not driving it, whether in a building or
not. If you normally keep your vehicle in a town other than
the one you live in, you must notify your insurance company.
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Good Student Discount |
Since studies have proven a link
between good grades and good, safe driving, some insurance companies
offer reduced premiums to students with high scholastic ratings.
To be eligible for reduced premiums, simply provide Electric
Insurance with a recent transcript showing a B average or better.
Good Student discount regulations vary among states and the
discount is not available in all states.
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Group Affiliation |
Electric Insurance is able to offer
group discounts to certain companies, groups, or clubs.
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Guaranteed Replacement
Cost |
Guaranteed Replacement Cost coverage
on homeowner's insurance means that your home will be repaired
to its value at the time of loss, regardless of the amount of
coverage carried. For example, you estimate your home to have
a full replacement value of $162,000 and you insure it for $162,000.
If you have guaranteed replacement cost endorsement on your
policy and the home is lost in a fire and the house costs $168,000
to rebuild, the policy will pay $168,000.
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HO3 Policy |
One of the most common
types of homeowner policies, an HO3 is a Special Form policy
that covers all perils except those specifically excluded by
the policy. Typical coverages in a HO3 might be: Coverage A
- $100,00; Coverage B - $10,000; Coverage C - $50,000; Coverage
D - $20,000; Coverage E - at least $100,000; and Coverage F
- at least $1,000.
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HO4 Policy |
Also called a Renters or Tenants
Policy, an HO4 provides coverage on your personal property for
a range of perils specifically named in the policy. Typical
coverages in a HO4 might be: Coverage C - $15,000 and up; Coverage
D - $3,000; Coverage E - at least $100,000; and Coverage F -
at least $1,000.
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HO6 Policy |
Condominium insurance is like HO4
(Renters) except that it takes into account the fact that you
own the inner walls of your condo or townhouse. It can also
fill in any gaps in your condo association's coverage. Typical
coverages in a HO6 might be: Coverage A - starts at $1,000;
Coverage C - $15,000 and up; Coverage D - $3,000; Coverage E
- at least $100,000; and Coverage F - at least $1,000.
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Homeowner's Policy |
Combined property and liability
insurance that covers homeowners and renters for damage to or
theft of their property and liability, in case they are responsible
for injury to another person.
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Homeowners Plus |
Homeowners Plus is an endorsement
that may be added to your policy if you meet certain eligibility
requirements. The endorsement provides the following benefits
over the Standard Homeowners policy:
- Guaranteed Replacement Cost on the dwelling (Coverage
A). In the event of a covered loss to the dwelling, we will
pay up to the full cost of replacement regardless of the
amount of insurance listed on the policy for Coverage A
Dwelling (certain provisions apply).
- Replacement Cost protection on personal property (Coverage
C). Recovery for damage or loss to personal property will
be adjusted on the value of the replacement cost for each
item, with no deduction for depreciation, provided the damaged
property is replaced.
- Increased amounts of coverage on the Special Limits under
personal property (Coverage C).
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Increased
Cost of Construction Insurance |
Commonly added as an
endorsement to homeowner's policies, "increased cost of
construction insurance" covers the additional costs of
building repair or reconstruction when you rebuild with more
expensive services, materials and techniques required by local
ordinances.
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Increased Hazard |
Property insurance terms are tailored
to the nature and use of the property as it exists when the
policy is written. Should you introduce dangerous materials
or activities into the property, like making fireworks, you
will have added an increased hazard whose liabilities would
not be covered by your policy.
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Indirect Loss |
Also known as consequential loss
or damage, indirect loss results from, but is not caused directly
by, a peril. If your business property burned down, for instance,
the property itself is a direct loss, while the lost business
revenues would be considered an indirect loss.
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Inflation Guard Coverage |
"Inflation Guard Coverage"
provides automatic periodic increases on the building's property
insurance, to reflect the effects of inflation on building replacement
expenses.
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Inherent Vice |
A property flaw or fault which causes
its own destruction. Damages from inherent vices are usually
not covered through insurance. |
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Liberalization
Clause |
If policies or endorsement
forms are broadened through legislation or rating authority
rulings-and do not require premium increases-the "liberalization
clause" automatically includes the broadened coverage in
similar, existing policies.
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Limit of Liability |
The ceiling set on the amount an
insurer will pay for a loss. See Single Limit Liability and
Split Limit Liability.
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Livery Use |
This is use of a vehicle to carry
passengers for a fee, as in a taxicab or a rented limousine.
Unless specified in your policy, livery use is not covered by
your auto insurance. Carpooling is not considered livery use.
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Loss of Use Coverage |
If your home becomes uninhabitable
because of an insured peril, Loss of Use (Coverage D) provides
compensation for additional living expenses incurred in an attempt
to maintain a normal standard of living. Loss of Use is automatically
included as 20% of the Replacement Cost amount you carry in
Coverage A. If your home were covered for $200,000, for example,
Loss of Use coverage would provide up to $40,000 for additional
living expenses. See Additional Living Expenses.
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Loss Payable Clause |
To protect lenders or lienholders,
this clause extends coverage to parties with an insurable interest
in your property, most often the institution holding your mortgage.
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Masonry
Noncombustible Construction |
Refers to buildings
constructed from noncombustible materials such as masonry walls
of brick, cinder block, stone, tile, or other similar materials,
and floors and roofs made of metal or other noncombustible materials.
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Medical Payments/Personal
Injury Protection |
Covers you, the members of your
household and your passengers for medical and funeral expenses
resulting from an auto accident, regardless of who is at fault.
Personal Injury Protection is not applicable in all states.
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Mobile Home Policy |
A homeowner's policy for a permanently
situated mobile home.
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Modified Fire-Resistive
Construction |
Building construction featuring
exterior walls, floors and roofs made of fire-resistive materials
such as masonry or metal.
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Mortgage Clause |
In policies covering mortgaged property,
the "mortgage clause" protects the interests of the
mortgagee for loss reimbursement and other rights of recovery,
regardless of any acts or neglect by the insured.
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Mortgagee |
A lender or creditor, typically
a bank, who holds the mortgage, and lends money secured by the
value of the mortgaged property.
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Mortgagor |
Usually the homeowner who, as debtor,
receives money in return for a property mortgage granted as
a security for the loan.
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Motor Vehicle Record
(MVR) |
Your state's record of your auto
accidents and/or traffic violations. Your insurance rates are
based on, among other factors, the quality of your driving history-a
good record can mean lower rates! When you accept a policy with
Electric Insurance, for example, Electric Insurance uses your
driver's license number to review your MVR for claims, losses
and violations you may have had in the past five years.
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Multi-Car Discount |
If you have more than one car insured
with Electric Insurance, you probably qualify for a 20% discount
(available in most states)! |
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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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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.
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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.
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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.
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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.
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Personal
Injury Protection Deductible |
Deductible Under your
Personal Injury Protection (PIP) coverage, you may have the
option of choosing a deductible or co-payment amount. These
are amounts that you would pay out of pocket (in exchange for
a reduced premium) before you were entitled to any recovery
payment under your PIP coverage. These options are not available
in all states.
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Personal Injury Protection |
Waiver of Work Loss Under the Personal
Injury Protection coverage, selecting Waiver of Work Loss will
eliminate coverage for any work loss due to the covered accident.
You may waive the Work Loss coverage only if you and your resident
spouse (if applicable) have not received any earned income from
wages during the thirty-one days prior to your policy's effective
date and none is expected in the next one hundred eight days.
(This waiver applies only to the named insured and resident
spouse. All other covered persons will be entitled to basic
PIP benefits for Work Loss). This option does not apply to all
states with Personal Injury Protection coverage options.
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Personal Property |
Any of your property, such as furniture,
clothing and consumer electronics, other than real estate property.
Your homeowner's policy covers the personal property of you
and any resident family members.
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Physical Damage |
Actual damage to your property.
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Property Damage |
Damage to the property of others,
including loss of use, caused by your car or another person's
car driven by you or a family member.
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Rental
Reimbursement |
An accident shouldn't
leave you stranded without transportation. Rental Reimbursement
coverage helps pay for the cost of a rental vehicle while yours
is being repaired. In most states, coverage options range from
$20/day up to $50/day. This coverage is optional. When you carry
physical damage coverage for theft, you may be entitled to reimbursement
of rental expenses if your car is stolen even if you don't carry
Rental Reimbursement Coverage. Also called Transportation Expense
Coverage or Substitute Transportation.
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Rental Value |
Insurance protection against loss
of rental value or actual rent should the owner's insured property
suffer damages prohibiting property use or tenant occupation.
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Renters Insurance |
See HO4 policy. |
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Replacement Cost |
Coverage for the cost of replacing
damaged property at the time of loss with that of similar kind
and quality. If you carry replacement cost coverage and have
a loss, the insurer pays for the cost of a new replacement,
minus any policy deductible.
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Residence Premises |
Where you, the insured, live. In
homeowner's insurance, this includes the dwelling, grounds and
other structures, or that part of any other building in which
you live.
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Safe
Driver Insurance Plan |
To encourage safe driving-and
penalize unsafe drivers-most states assign "points"
to traffic violations and certain accidents. Each point adds
a percentage surcharge to your insurance policy. Specific surcharge
guidelines vary by state.
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Scheduled Personal
Property |
Personal belongings that are worth
more than the limits of liability set in your policy, such as
jewelry, furs, silverware, etc., can be insured by adding this
special endorsement.
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Single Limit
Liability |
Insurance policies covering both
bodily injury and property damage can be limited in two ways.
A single limit liability has one limit for both injury and property
damage combined. For example, if a policy had a $60,000 liability
limit, the maximum amount the policy would pay for the total
injury and property damage would be $60,000.
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Sinkhole Collapse |
A special form of earth movement,
covered by some homeowner's insurance, referring to the sudden
collapse or sinking of land into empty, underground spaces eroded
by water.
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Split Limit Liability |
A split limit liability policy has
separate limits per person and per accident for bodily injury,
and a per accident limit for property damage.
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Stacked/Non-Stacked
Uninsured/Underinsured Motorist |
When Stacked Uninsured/Underinsured
coverage is selected, the limits of coverage available for Uninsured
Motorists Coverage are the sum of limits for each motor vehicle
insured under the policy. For Non-Stacked Uninsured/Underinsured
coverage, the maximum limit of liability for each covered accident
is the limit of liability shown in the Declarations Page, regardless
of the number of vehicles or premiums shown in the Declarations
Page.
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Standard/Conversion
Underinsured Motorist |
Standard Underinsured Coverage (UIM)
coverage is usually reduced by amounts paid by workers' compensation,
or by or on behalf of the person at fault. Conversion Underinsured
Motorist (UIMC) is not reduced by payments from any source.
Both Standard (UIM) and Conversion (UIMC) coverages only become
available after the liability insurance of the at-fault person
has been fully paid. Not available in all states.
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Stated Amount |
In your policy, you may choose to
cover certain items for a specific amount. In the event of loss,
the insurer pays the stated amount regardless of the property's
actual value. If, for example, you insured a painting for a
stated amount of $15,000, in the event of theft you would recover
the $15,000 (minus your deductible), even if the painting had
accrued value after the policy had been signed.
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Substitute Transportation |
An accident shouldn't leave you
stranded without transportation. Substitute Transportation coverage
helps pay for the cost of a rental vehicle while yours is being
repaired. In most states, coverage options range from $20/day
up to $50/day. This coverage is optional. When you carry physical
damage coverage for theft, you may be entitled to reimbursement
of substitute transportation expenses if your car is stolen,
even if you don't carry Substitute Transportation Coverage.
Also called Transportation Expense Coverage or Rental Reimbursement. |
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Tenants
Policy |
Another term for Renters
Insurance. See HO4 policy.
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Towing |
For more peace of mind when you're
on the road, many policies include coverage for towing and/or
repair at point of breakdown. This is an optional coverage-call
and add it to your policy. You'll be surprised how inexpensive
this convenience can be!
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Transportation
Expense |
An accident shouldn't leave you
stranded without transportation. Transportation Expense coverage
helps pay for the cost of a rental vehicle while yours is being
repaired. In most states, coverage options range from $20/day
up to $50/day. This coverage is optional. When you carry physical
damage coverage for theft, you may be entitled to reimbursement
of transportation expenses if your car is stolen, even if you
don't carry Transportation Expense Coverage. Also called Substitute
Transportation or Rental Reimbursement.
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Type of Vehicle |
The terms of your insurance policy
vary with the type of vehicle you wish to cover. In order to
qualify for Personal Auto Coverage, for example, your vehicle
must be a private passenger auto or a motor vehicle considered
to be a private passenger auto. (A "private passenger auto"
is defined as a four-wheel motor vehicle, other than a truck,
owned or leased for at least six continuous months.) Pickups
and vans may be considered private passenger autos under the
following conditions: they must have a gross vehicle weight
(GVW) of less than 10,000 pounds and must not be used for the
delivery or transportation of goods or materials, unless such
use is incidental to an insured's business of installing, maintaining
or repairing equipment, or such use is for farming or ranching.
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Underinsured
Motorist Property Damage (UIMPD) |
Underinsured Motorist
Property Damage Coverage provides coverage when property damage
is sustained by an insured and the negligent operator possesses
insurance, but the limits of liability carried by the negligent
driver are not sufficient to cover the damages.
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Underinsured Motorist
(UIM) |
Insurance provisions for the "underinsured
motorist" cover you, the insured members of your household
and your passengers for injuries, damages or death caused by
the negligence of a person with insufficient insurance. Should
you have a valid claim against a person whose coverage cannot
meet your damages, your policy will meet the difference-up to
the limit of liability listed on your policy.
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Uninsured Motorist
Property Damage Deductible |
Uninsured Motorist Property Damage
coverage may be subject to a deductible at the option of the
insured. This option may not be available in all states.
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Uninsured Motorist
(UM) |
In your policy, the "uninsured
motorist" provision covers you, the insured members of
your household and your passengers for bodily/personal injuries,
damages or death caused by an at-fault uninsured or hit-and-run
driver. For example, if you are involved in an accident where
the other driver is at fault but has no insurance, your policy
will cover your medical expenses, up to the limit on your policy.
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Uninsured Property
Damage (UMPD) |
Property Damage Uninsured Motorists
Coverage provides coverage for your auto when property damage
is sustained by an insured and the negligent operator does not
possess insurance.
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Unoccupied
|
Property without people occupying
or living within it. As opposed to vacant property, unoccupied
property may hold furnishings. Unoccupancy beyond a specified
period of time is prohibited by the standard homeowner's policy. |
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Vacant |
A building with nothing
in it. While an "unoccupied" building is defined by
not having people in it, a "vacant" building is also
devoid of furnishings and other items. Vacancy beyond a specified
period of time is prohibited by the standard homeowner's policy.
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Vandalism and
Malicious Mischief |
Your homeowner's policy automatically
covers you for willful destruction or damage performed by others
to your property.
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VIN (Vehicle Identification
Number) |
This is a 17-character number that
is unique to each vehicle and identifies characteristics of
the vehicle such as year, make, model and engine specifics.
The VIN is usually located on the driver's side of the dashboard.
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Violation(s) |
Any driving offense for which you
are issued a ticket. (Does not include parking tickets.) When
applying for insurance, you must disclose all violations received
within the specified time frame. The completion of safe or defensive
driving courses does not negate the fact that a ticket was received. |
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Window
Etching |
Window Etching is a
vehicle identification system in which letters, numbers, or
the Vehicle Identification Number (VIN) is etched into the vehicle.
Specific states have specific requirements. Please contact an
Electric Insurance account specialist for additional information.
The Electric Insurance FAQ section can answer commonly asked
questions. 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.
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