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5 Cards in this Set
- Front
- Back
Coinsurance clause
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A clause in insurance policies covering real property that requires the policyholder to maintain fire insurance coverage generally equal to at least 80 percent of the property's actual replacement cost.
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Equity
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The interest or value that an owner has in property over and above any indebtedness
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Homeowner's insurance policy
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A standardized package insurance policy that covers a residential real estate owner against financial loss from fire, theft, public liability, an other common risks.
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Liability Coverage
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Coverage for injuries or losses sustained within the property but not covering the property itself.
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Replacement Cost
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The construction cost at current prices of a property that is not necessarily an exact duplicate of the subject property but serves the same purpose or function as the original.
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