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JARGON BUSTER
A person who investigates and assesses claims on behalf of insurers (known also as loss adjuster, claims adjuster, engineer or inspector).
Damage arising as a result of an accident e.g. paint spilled on a carpet.
A further premium which can be a result of a policy alteration which has increased the risk, amended the policy conditions or sum insured.
An intermediary which is authorised and regulated by the FSA (Also see intermediary).
Designed to give financial protection should you need to repair or rebuild your home due to insured events.
When you seek payment or settlement for a loss or damage.
Part of a policy stating that certain rules must be followed, for example, the duty to take reasonable care to protect the property or to report claims promptly. Conditions protect you the policyholder and Insurer, and may affect cover.
Provides protection for the cost of replacing, repairing or reinstating your possesions following loss or damage inside the home.
A legally binding agreement between two parties. Insurance is a contract between the insurer and you, the insured. An insurance policy is evidence of this contract.