Forms which change or modify a policy. Some may be required by your state or the company. You may choose others to make the policy meet your needs. For example, you add replacement cost coverage for your personal property to your policy. The term amendment is a synonym for endorsement.

Events that cause losses that are not covered by your policy. For example, many mobile home policies do not pay for losses caused by earthquake.

The date that coverage provided by an insurance policy ends unless the policy is renewed.

The leading specialty insurer of mobile homes. Foremost was founded to insure mobile homes in 1952. The Foremost Insurance Group includes the various insurance companies under the parent company of Foremost Corporation of America.  The companies consist of Foremost Insurance Company, Foremost Signature Insurance Company, Foremost Property and Casualty Insurance Company, American Federation Insurance Company, Foremost County Mutual Insurance Company (Texas) and Foremost Lloyds of Texas. 

Condition that creates or increases the chance of a loss.

To reimburse (or compensate) a customer for the cost of items that are damaged, lost or destroyed or for financial losses caused by the customer's liability.

A contract that states the rights and the responsibilities of you and your insurance company.

A financial stake in a piece of property. You have an insurable interest when damage or destruction to the property would cause you direct financial loss.

The person, business or organization covered by an insurance policy, sometimes referred to as "you."   The policy may define "insured" to include people in addition to those specifically named on the policy declarations page or page one. For example, insured may include all family members living in the household. At Foremost we prefer to think of insureds as customers — and as the most important people we know.

The part of a policy that contains your insurance company’s promises. This section of your policy describes the main coverages provided by the policy.

The person or company that provided you a loan to purchase the item you are insuring.  (See Lienholder.)

A legal duty to pay for injury or damage.

Covers losses that result when an individual causes accidental injury to another person or damage to their property. If you accidentally set fire to your neighbor’s garage while burning leaves in your yard, this is the type of coverage that would apply. Liability insurance often includes coverage for defense costs in a liability lawsuit.

The individual or company that owns the mortgage on your home.  (See Lender.)

Financial loss resulting from damage to the property that is insured under an insurance policy.

Insurance that helps pay for medical costs, like x-rays, for someone who is injured on your insured premises or because of your activities. This coverage does not pay for medical expenses for you or your family members.

The loss of personal property under circumstances that indicate the property was stolen. For example, you leave a ring on a sink in a public washroom, and it is gone when you return to look for it.

A cause of loss specifically listed, or named, as one covered by a policy. This type of coverage is found in a named peril or specified peril policy.

Failure to do what a reasonably careful person would in the same circumstances when the result of that action — or inaction, results in a loss. Negligence is not intentional. It results from carelessness, ignorance or thoughtlessness.

When an insurance company chooses not to offer coverage beyond the expiration date of a policy. This is different than a cancellation, which typically ends coverage before the expiration date.

An accident that sometimes includes continuous or repeated exposure to the same generally harmful conditions.

See All-Risk.

A policy that provides two or more coverages in one contract for one price. For example, many mobile home policies provide coverage for your home, unattached structures, personal property and personal liability.

Typically the first page of a policy. Page one of your policy lists your policy number, dates your policy is in force, who and what property your policy insures, as well as the specific coverages, coverage limits and deductibles you chose. May also be called the declarations page.

The cause of loss, for example: fire, lightning, windstorm, hail, collision, robbery, etc.

Things you own like clothing, furniture, stereo equipment and other personal possessions. Personal property includes everything except land, buildings and any other structures attached to the land. Personal property may also be called "contents." See also Real Property.

The document issued to the customer by the insurance company; the policy states the terms of the insurance contract.   The policy includes the policy jacket, the declaration page and all endorsements.

The person, business or organization whose name appears on the policy.

When the coverages of an insurance policy apply. This is usually shown as an effective date and an expiration date. It may also be called the policy term. The policy period for most mobile home policies is one year.

Expected losses, such as those caused by wear and tear and mechanical breakdown. Insurance is not designed to cover predictable losses.

The amount of money you pay your insurance company for your policy.

A way to share individual risk of financial loss because of damage to property. Purchasing insurance transfers at least some of your individual risk to the insurance company. The company, based on the information you give them, agrees to share your risk of financial loss for a specific premium.

A rating of a fire department’s capabilities and the availability of fire hydrants and other water supply sources.

Also known as a quotation. This is a pre-purchase statement of the premium that will be charged if the insurance company provides the coverages and amounts of insurance specified. A quote may be valid for a limited time.

Land and structures, such as your garage, that are permanently attached to your land.

When an insurance policy is put back into force. How and when a policy may be reinstated is explained in your insurance contract.

Insurance an insurance company buys to transfer part of its risk to another company.

The decision by you and your company to continue your policy for another period of time.

The current cost to replace a building or possessions with new materials or items of the same kind and quality. Replacement cost may be used to help determine the amount of insurance on your property. If your policy provides for replacement cost settlement of losses, the company will not consider depreciation when determining the amount to pay for your loss.

Unlawful taking of your property by force of arms or threat of physical harm.

A restriction of coverage on personal property, such as jewelry, silverware, tools, etc., by specifying the dollar limits of coverage for the particular personal property.

The time period for which an insurance policy provides coverage.

Any wrongful act of taking of someone else’s property. Theft is a broad term that includes robbery, burglary, shoplifting and embezzlement. It may also include Mysterious Disappearance.

Occurs when your property is damaged beyond reasonable repair.

Person who sets the criteria which people or property must meet in order to be insured by a company. Underwriters also review requests for coverage to make sure applicants meet the criteria set.

Intentional damage to or destruction of property. For example, while trying to get into a house to steal a TV or jewelry, a thief breaks the front door window to get in. Breaking the window is considered vandalism. An example of malicious mischief would be someone spray painting graffiti on someone else’s house.

A cause of loss. The term windstorm includes hurricanes, tornadoes, high winds and cyclones.