Home Insurance Glossary H-K

Homeowner's Policy
A form of package policy including fire and other perils, theft insurance, and comprehensive personal liability. The premium is stated as one amount.

Insurance Department
A state's department that has responsibility for the enforcement of the state's insurance code. It is charged with the supervision and licensing of insurance companies and agents and the general administration of insurance laws of the state.

Insurance to Value
The amount of insurance written on property is approximately equal to its value. An insured most always wants to insure all property to value.

Insuring Agreements
Part of an insurance policy that states the coverage of the contract.

Insured
The person who is protected by the insurance policy.

Insurer
The company that issues a policy to a policyholder; the party in the insurance contract that promises to pay losses and render services.

Return to Home Insurance Glossary.