Home Insurance Terms
The HO-3 form and its parts — dwelling coverage, personal property, loss of use, additional living expenses — and the perils that need their own policy, such as flood and earthquake.
9 definitions
Additional Living Expenses (ALE)
Additional Living Expenses (ALE) definition - Learn what ALE coverage is, what expenses it covers, and why it's important for homeowners.
Dwelling Coverage
Dwelling coverage pays to repair or rebuild the structure of your house — walls, roof, floors and foundation — as distinct from the contents inside it.
Earthquake Insurance
Earthquake Insurance definition - Learn what earthquake insurance is, what it covers, and why it's important for protecting your home from earthquake damage.
Flood Insurance
Flood Insurance definition - Learn what flood insurance is, what it covers, and why it's important for protecting your home from flood damage.
Homeowners Insurance
Homeowners Insurance definition - Learn what homeowners insurance is, what it covers, and why it's important for protecting your home.
Liability Coverage
Liability Coverage definition - Learn what liability coverage is in home insurance, what it covers, and why it's important for protecting your assets.
Loss Assessment Coverage
Loss Assessment Coverage definition - Learn what loss assessment coverage is, when you need it, and how it protects condo and townhouse owners.
Loss of Use
Loss of Use definition - Learn what loss of use coverage is in home insurance, what it covers, and why it's important for covering temporary living expenses.
Personal Property
Personal Property definition - Learn what personal property coverage is in home insurance, what it covers, and how to protect your belongings.