Actual Cash Value
The value of damaged property after depreciation has been deducted from its replacement cost.
Knowledge Center
Resource Library
Tools, glossaries, checklists, and premium education resources to help you navigate U.S. insurance with confidence.
Insurance Reference
Policy Glossary
Insurance policies often contain technical language that can be unfamiliar. This glossary explains frequently used terms in straightforward language, making policy documents easier to understand and compare.
Beneficiary
The person or organization designated to receive policy benefits when a covered event occurs.
Coinsurance
The percentage of covered expenses shared between you and your insurer after your deductible has been met.
Deductible
The amount you pay before your insurance begins covering an eligible claim.
Endorsement
A policy amendment that adds, changes, or removes specific coverage provisions.
Exclusion
A condition, event, or type of loss that is not covered by an insurance policy.
Liability Limit
The highest amount an insurer will pay for a covered liability claim.
Premium
The regular payment required to keep an insurance policy active throughout the coverage period.
Rider
An optional addition that expands or customizes the coverage provided by a policy.
Underwriting
The process insurers use to evaluate risk before issuing or pricing a policy.
Umbrella Policy
Additional liability protection that extends beyond the limits of underlying insurance policies.
Replacement Cost
The estimated cost to repair or replace damaged property without deducting depreciation.
Coverage Checklists
Use these checklists when purchasing new coverage or reviewing policies at renewal time.
Auto Insurance Checklist
- □ Verify all licensed drivers in household are listed
- □ Confirm liability limits match your asset level
- □ Check uninsured/underinsured motorist coverage
- □ Review collision and comprehensive deductibles
- □ Confirm rental car reimbursement limits
- □ Ask about multi-policy bundling discounts
- □ Document vehicle mileage and usage type
Home Insurance Checklist
- □ Confirm dwelling coverage reflects rebuild cost
- □ Create or update a home inventory
- □ Review personal property limits for valuables
- □ Check flood and earthquake exclusion status
- □ Verify liability coverage for property features
- □ Understand additional living expense limits
- □ Confirm mortgage lender requirements are met
Business Insurance Checklist
- □ Separate personal and business coverage
- □ Assess general liability limits
- □ Evaluate professional liability needs
- □ Confirm workers' comp compliance by state
- □ Inventory business property and equipment
- □ Review cyber liability for data handling
- □ Check commercial auto for business-use vehicles
Additional Learning Tools
A
Coverage Comparison Worksheet
A structured format for comparing quotes side by side—premiums, deductibles, limits, and exclusions—in one view.
B
Life Event Coverage Map
A visual reference showing which insurance lines typically need updating after major personal or business milestones.
C
State Requirements Reference
An overview of minimum auto liability requirements and workers' compensation rules by state to inform your baseline coverage decisions.
D
Claims Preparation Guide
What to document, who to contact, and how to navigate the claims process for auto, property, and liability incidents.
Request any of these tools through our contact page.