For More Than 20 Years! Call Us Toll Free 877-365-9990 or Send Us an Email
Info Center Glossary of Terms
Glossary of terms used on this site
There are 264 entries in this glossary.D
| Term | Definition |
|---|---|
| Data Processing or EDP Coverage |
All risk property insurance for electronic data processing equipment (computers), computer programs and data including mechanical breakdown, electrical injury and changes in temperature and humidity |
| Death Benefit |
The amount of money paid to the beneficiary when the insured person dies. |
| Debris Removal |
The cost of removal of debris from covered property damaged by an insured peril |
| Decreasing Term Insurance |
Term life insurance on which the face value slowly decreases in scheduled steps from the date the policy comes into force to the date the policy expires, while the premium remains level. The intervals between decreases are usually monthly or annually. |
| Deductible |
Deductible: The amount of loss which is paid or absorbed by the insured prior to determining the insurance company's liability |
| Deposit Premium |
The amount of premium required at the beginning of a policy prior to the actual premium being determined |
| Depreciation |
The reduction in value of property over a period of time. Usually as a result of age, wear and tear, or economic obsolescence |
| Direct Damage |
Causes of loss that produce direct and straightforward property damage (without interruption in time or deviation in space) from the cause of the event to the damaged property |
| Double Indemnity |
Payment of twice the basic benefit in the event of loss resulting from specified causes or under specified circumstances |
| Driver Other Car Endorsement |
An endorsement that can be added to an automobile policy that gives protection while the insured designated in the endorsement is driving a car other than the one named in the policy |
| Drop Down Provision |
A clause used in Umbrella policies providing that the Umbrella will 'drop-down' over underlying policy aggregate limits when they have been reduced or exhausted |
Info Center Glossary of Terms
