Proof of Insurance
Documentation showing that coverage is active, such as an ID card or declarations page.
Mortgagee
A lender with a secured interest in property who is often listed on the policy and may receive notices or claim payments.
Loss Payee
A party with a financial interest in property, such as a lender, listed to receive claim payments as their interest appears.
Rider
Another term for an endorsement that changes coverage.
Renewal
Continuation of coverage for a new policy term, typically with updated terms and premium.
Reinstatement
Restoring a policy after cancellation, often requiring payment of overdue premium and meeting underwriting conditions.
Non-Renewal
A decision not to renew a policy at expiration, typically requiring advance notice.
Insurer
The insurance company that issues the policy and assumes risk in exchange for premium.
Homeowners Policy (HO)
A policy that combines property coverage for the home and belongings with liability protection for the insured.
Insured
The person or entity covered by the policy.