P and C Terms and Provisions

Front

Actual Cash Value means

Back

Replacement cost less depreciation

Front

This would stop abandoning property to the insurance company to claim a total loss

Back

Abandonment clause

Front

This clause in a policy tells the perils covered

Back

Insuring agreement

Front

The only kind of risk that is insurable

Back

Pure

Front

The chance of a loss or uncertainty is

Back

risk

Front

Anything that increases the likelihood of an event occurring

Back

Hazard

Front

The cause of a loss

Back

peril

Front

Insurable interest must exist

Back

at time of loss

Front

A valued policy requires on a total loss

Back

Full policy amount

Front

Accident including continuous exposure to same harmful conditions

Back

occurrence