Glossary

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Insurance to Value Ratio

In homeowners insurance, the insurance-to-value ratio is the ratio of your dwelling coverage limit divided by the replacement cost of your home. This ratio is usually represented in percentages.

Open Perils in Homeowners Insurance

HO-3 and HO-5 homeowners policies cover your dwelling and detached structures on an open-peril basis. Open-peril policies cover more risks than a more basic named peril policy.

Blanket Insurance Policies

If you have ever heard the term blanket insurance, you are not alone. This term is widely used in the insurance world, but its exact definition and many types are not always clear. Most people assume a blanket policy covers every type of claim, but what exactly is it, and what does it really do? ... Read more

Guaranteed Replacement Cost for Homeowners Insurance

Guaranteed replacement cost is the highest level of coverage you can select for your dwelling coverage portion of homeowners insurance.
16 named perils

16 Named Perils for Homeowners Insurance

Damage caused by 16 named perils are covered by most homeowners insurance policies. Find out what the 16 named perils are.

Additional Interest vs Additional Insured for Homeowners Insurance

When looking at your homeowners insurance policy, you might see terms like Additional Interest and Additional Insured. Unless you are an insurance agent, it can be hard to understand all the terms and their meaning.

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