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Loss history refers to the claims you have had in the past wether on that property or another.

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Q: What does it mean loss history on insurance policy?
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What does each occurrence mean in liability insurance?

An occurrence is a loss, or a claim filed on the policy.


What does loss assessment mean on a homeowners policy?

Loss assessment on a homeowner's insurance policy is protection against getting sued for a person being injured on the property. This is a common insurance that condominium owners need to protect themselves from lawsuits for someone being injured in the common areas of the condominium complex..


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In an insurance policy a peril is a cause of loss like theft or fire. Perils can be named and include flooding, hail, and wind damage. Policies have both open perils and named perils.


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not sure what you are referring to as a ''property'' insurance policy........ homeowners policy, direct physical loss would mean......(the key here is ''direct''), the tree fell on the house causing a 'direct' loss to the roof, and an ''indirect'' loss to the interior dwelling from the rain that came in.......if you could be more specific I'll try and help more..........


You have insurance on your home but no replacement insurance What does this mean?

HOAIt means our policy is based on actual value rather than replacement cost. It means that the insurance company is not guaranteeing you the replacement of your home if it burns down. For example, your insurance policy limit is $200,000, but the cost of replacing your home is $210,000, if you had a replacement policy, the insurance would pay for the replacement of your home despite the fact that your insurance limit is only $200,000. However, the insured value at the time of the loss is usually required to be at least 80% of the replacement cost before your policy is covered on a replacement cost basis.


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