Term
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Definition
| An insurance policy that pays a portion of the value of the item being replaced. It values items based on how much they have decreased in value since their purchase date. |
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Term
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Definition
| An insurance policy that provides the amount needed to replace the item with a brand-new similar item. |
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Term
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Definition
| The amount you pay on a regular basis (usually monthly) for insurance. |
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Term
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Definition
| The amount you have to pay for expenses before the insurance company will start helping to pay the remaining costs. |
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Term
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Definition
| The percentage the insurance company will pay after the deductible has been met. |
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Term
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Definition
| The amount you are expected to pay for a medical expense at the time you receive it. |
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