property section 1 - part 2 - Term Definition Proximate...

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Term:Proximate CauseDefinition:Beginning chain of events that leads toa cause.Ex: wind blows door open> door hitstable> lamp falls off table> glassbreaks> glass cuts little girls legsTerm:deductible *on every property claimDefinition:`The point of deductible is to makeinsurance more affordable.A higher deductible the lower thepremium, Ins.-co. do it to eliminatesmall claims because they areexpensive to process. See math example.....Term:IndemnityDefinition:to restore you financially prior to yourloss, to make you whole againTerm:Limits of liabilityDefinition:the most policy will pay
Term:OccuranceDefinition:Happens over a period of time, (ex-slow gas leak)Term:

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