Loss

Your home insurance policy- translated.

Like most homeowners, your home is your greatest asset. That's why having a strong understanding of your homeowners insurance policy is so important. However, since home insurance policies are written by home insurance companies- customers often have a difficult time translating their policy. Use our home insurance glossary to search out terms commonly found in homeowners insurance policies and get clear, concise definitions written in language you can understand!

Coverage D: Loss of Use

Coverage for the additional expenses you may incur while living somewhere else due to damage caused by a covered loss.

First Party Loss

A situation involving only the insurer and insured.

The amount sought through an insurer’s claim.

Loss History

Refers to an insured´s history of losses (claims) with other companies, or the company they are currently with. A company will consider "loss history" when underwriting a new policy or considering a renewal of an existing policy.

Third Party Loss

A situation involving a person other than the insurer and insured, i.e., a person making a liability claim against the insured.

DISCLAIMER: The information provided above is intended to be a guide to understanding common homeowners insurance terms. HomeInsurance.com does not intend this information to be official or legally binding. HomeInsurance.com uses this list as a basic guide to understanding these terms and should not be considered complete or definitive.