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| This term means an accident, including continuous or repeated exposure to conditions, which results in bodily injury or property damage neither expected nor intended from the standpoint of the insured. |
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| A type of liability policy in which a insurance provider is liable for any claim which occurred during the policy period regardless of how far in to the past it occurred. This is the traditional type of liability policy but has lost favor because of lawsuits being brought years after the fact. Large liability risks are typically covered by claims-made policies which are responsible only for claims submitted during the covered policy period. |
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| The period of time in which new subscribers may enroll in a health insurance plan. |
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| A statement in most property policies which specifies that changes in law or ordinance are not valid perils or causes of loss. This means if your property is destroyed or damaged in the course of enforcing a law, you're not covered. Ordinance coverage is available separately. |
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| Ordinance or Law Coverage |
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Coverage for Loss to the Undamaged Portion of the Building.
Pays for the loss of value of an undamaged portion of the existing building which must be demolished and/or removed to conform with municipal ordinance, code, etc.
Demolition Cost
Pays for the cost of demolition of the undamaged portions of the building necessitated by the enforcement of building, zoning or land use ordinance or law.
Increased Cost of Construction
Pays for any increased expenses incurred to replace the building with one conforming to building laws or ordinances, or to repair the damaged building so that it meets the specifications of current building laws or ordinances. |
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