Massachusetts Insurance Agent - Home, Auto, Business
  • HOME
    • Send me a Home Insurance Quote >
      • Thank You! Home Insurance Rates Are On Their Way!
    • FLOOD Insurance, Massachusetts >
      • Pay Your Bill Online
      • Videos - Cape Cod Home Insurance
    • Cape Cod Home Insurance
    • Pay Your Home Insurance Bill Online
    • Ordinance or Law Coverage
    • How to Prevent a Claim on your Home Insurance Policy
    • Videos - Cape Cod Real Estate Tips >
      • Videos - How to Qualify a Tenant for your Cape Cod Home >
        • Videos - Cape Cod Real Estate Investing
    • Cape Cod Massachusetts Arbella Insurance Discounts
    • Cape Cod Massachusetts Lloyds of London Home Insurance
    • Safety Insurance Discounts for Cape Cod, Massachusetts
    • MPIUA - MA Property Insurance Underwriting Association "Fair Plan"
    • Cape Cod Massachusetts Home Protection Insurance
    • Hurricane Preparedness >
      • Cape Cod Massachusetts Hurricane Survival >
        • Cape Cod Massachusetts Hurricane Preparedness
  • AUTO
    • Send me an Auto Insurance Quote for Cape Cod, Massachusetts
    • BOAT Insurance >
      • Send me a Boat Quote
    • Cape Cod, MA Dept. of Motor Vehicles
    • Cape Cod Massachusetts - Report an Auto Insurance Claim
    • Auto Insurance Quote - CAR BUYING TIPS : Auto Insurance for Cape Cod, MA
    • InControl Driver Training
    • Car Insurance for Cape Cod Massachusetts - Arbella Insurance - Send me an Auto Quote >
      • Cape Cod Massachusetts Arbella Car Insurance Discounts
    • Plymouth Rock - Send me an Auto Quote >
      • Plymouth Rock Asurance Discounts
    • Encompass Insurance Discounts
    • Safety Insurance - Send me an Auto Quote >
      • Safety Insurance Discounts
    • Travelers Insurance Discounts
    • Progressive Insurance - Send me an Auto Quote
  • LIFE
    • Send me a Life Quote
    • Long Term Care >
      • Videos - Living Trust >
        • Videos - Life Insurance
  • OFFICES
    • Pay Your Bill Online
  • ABOUT US
    • Reviews & Testimonials
    • Contact Us
  • Stay Home
    • Pay Your Bill Online
    • Report an Insurance Claim
    • Send me a Home Quote
    • Send me an Auto Quote
    • Send me a Boat Quote
    • Send me a Business Quote
    • Send me a Life Quote
  • Home Insurance Explained
  • Agent Login
  • Privacy Policy
  • Videos - Cape Cod Real Estate Investing, Taxes & Insurance
  • Videos - Cape Cod Coastal Real Estate
  • Português

Insurance Terms for Best Cape Cod Home Insurance Policies

3/30/2016

0 Comments

 
ACTUAL CASH VALUE 
An amount equivalent to the fair market value of the stolen or damaged property immediately preceding the loss. For real property, this amount can be based on a determination of the fair market value of the property before and after the loss. For vehicles, this amount can be determined by local area private party sales and dealer quotations for comparable vehicles.
AGENT
A licensed person or organization authorized to sell insurance by or on behalf of an insurance company.
AUTOMOBILE INSURANCE
Coverage on the risks associated with driving or owning an automobile. It can include collision, liability, comprehensive, medical, and uninsured motorist coverages.
BINDER
A temporary or preliminary agreement, which provides coverage until a policy, can be written or delivered.
BROKER
A licensed person or organization paid by you to look for insurance on your behalf.
CANCELLATION
The termination of insurance coverage during the policy period. Flat cancellation is the cancellation of a policy as of its effective date, without any premium charge.
CLAIM
Notice to an insurer that under the terms of a policy, a loss may be covered.
CLAIMANT
The first or third party. That is any person who asserts right of recovery.
CO-INSURANCE
Provision in an insurance policy, usually optional, under which the policyholder, for a reduced rate, agrees to maintain insurance equal to a specified percentage of the value of the property covered. Policyholders who fail to maintain the minimum amount of coverage specified, assume a proportionate share of the loss.
DECLINE
The company refuses to accept the request for insurance coverage.
DEDUCTIBLE
The amount of the loss which the insured is responsible to pay before benefits from the insurance company are payable. You may choose a higher deductible to lower your premium.
DEPRECIATION
A decrease in value due to age, wear and tear, etc.
ENDORSEMENT
Amendment to the policy used to add or delete coverage. Also referred to as a "rider."
EXCLUSION
Certain causes and conditions, listed in the policy, which are not covered.
EXPIRATION DATE
The date on which the policy ends.
FACE AMOUNT
The dollar amount to be paid to the beneficiary when the insured dies. It does not include other amounts that may be paid from insurance purchased with dividends or any policy riders.
FIRE INSURANCE
Coverage for loss of or damage to a building and/or contents due to fire.
GRACE PERIOD
A period (usually 31 days) after the premium due date, during which an overdue premium may be paid without penalty. The policy remains in force throughout this period.
GUARANTEED INSURABILITY 
An option that permits the policyholder to buy additional stated amounts of life insurance at stated times in the future without evidence of insurability.
HEALTH INSURANCE
A policy that will pay specified sums for medical expenses or treatments. Health policies can offer many options and vary in their approaches to coverage.
HOMEOWNER INSURANCE
An elective combination of coverages for the risks of owning a home. Can include losses due to fire, burglary, vandalism, earthquake, and other perils.
INCONTESTABLE CLAUSE
A policy provision in which the company agrees not to contest the validity of the contract after it has been in force for a certain period of time, usually two years.
INSURED
The policyholder - the person(s) protected in case of a loss or claim.
INSURER
The insurance company.
LIFE INSURANCE
A policy that will pay a specified sum to beneficiaries upon the death of the insured.
LIMIT
Maximum amount a policy will pay either overall or under a particular coverage.
LOAN VALUE
The amount that can be borrowed at a specified rate of interest from the issuing company by the policyholder, using the value of the policy as collateral. In the event the policyholder dies with the debt partially or fully unpaid, then the amount borrowed plus any interest is deducted from the amount payable.
MATERIAL MISREPRESENTATION
The policyholder / applicant makes a false statement of any material (important) fact on his/her application. For instance, the policyholder provides false information regarding the location where the vehicle is garaged.
MISQUOTE
An incorrect estimate of the insurance premium.
PERIL
The cause of a possible loss. For example, fire, theft, or hail.
POLICY
The written contract of insurance.
POLICY LIMIT
The maximum amount a policy will pay, either overall or under a particular coverage.
PREMIUM
The amount of money an insurance company charges for insurance coverage.
PREMIUM FINANCING
A policyholder contracts with a lender to pay the insurance premium on his/her behalf. The policyholder agrees to repay the lender for the cost of the premium, plus interest and fees.
PRO-RATA CANCELLATION
When the policy is terminated midterm by the insurance company, the earned premium is calculated only for the period coverage was provided. For example: an annual policy with premium of $1,000 is cancelled after 40 days of coverage at the company's election. The earned premium would be calculated as follows: 40/365 days X $1,000 = $110.
QUOTE
An estimate of the cost of insurance, based on information supplied to the insurance company by the applicant.
REINSTATEMENT
The restoring of a lapsed policy to full force and effect. The reinstatement may be effective after the cancellation date, creating a lapse of coverage. Some companies require evidence of insurability and payment of past due premiums plus interest.
REPLACEMENT VALUE
The cost to repair or replace an insured item. Some insurance only pays the actual cash or market value of the item at the time of the loss, not what it would cost to fix or replace it. If you have personal property replacement cost coverage, your insurance will pay the full cost to repair an item or buy a new one once the repairs or purchases have been made.
RIDER
Usually known as an endorsement, a rider is an amendment to the policy used to add or delete coverage.
SHORT-RATE CANCELLATION
When the policy is terminated prior to the expiration date at the policyholder's request. Earned premium charged would be more than the pro-rata earned premium. Generally, the return premium would be approximately 90 percent of the pro-rata return premium. However, the company may also establish its own short-rate schedule.
SOLICITOR
A licensed employee of a fire and casualty agent or broker who may act for the agent or broker in some circumstances.
SURCHARGE
An extra charge applied by the insurer. For automobile insurance, a surcharge is usually for accidents or moving violations.
SURRENDER
To terminate or cancel a life insurance policy before the maturity date. In the case of a cash value policy, the policyholder may exercise one of the nonforfeiture options at the time of surrender.
UNDERWRITING
The process of selecting applicants for insurance and classifying them according to their degrees of insurability so that the appropriate premium rates may be charged. The process includes rejection of unacceptable risks.
WAITING PERIOD
A period of time set forth in a policy that must pass before some or all coverages begin.
0 Comments



Leave a Reply.

    Send me a HOME QUOTE
    Picture

    RSS Feed

    Real Estate

    Stay up to date on Cape Cod Real Estate!  Land for Sale, Water Front Properties & more!

    Picture
    Register now for free email updates of new listings matching your home search. 
    Picture
    Auto Insurance
    Homeowners Insurance
    Condo Insurance
    Renters Insurance
    Rental Home Insurance
    Rental Condo Insurance
    Landlord Insurance
    Motorcycle Insurance
    Personal Umbrella Policy
    Earthquake Insurance
    Flood Insurance 
    Off Road Vehicles 
    Motor Home Insurance
    Mobile Home Insurance 
    Travel Trailer Insurance
    Recreational Vehicles 
    Boat & Yacht Insurance 

    Jet Ski Insurance
    Personal Watercraft 
    Snowmobile Insurance 
     
    Picture

    Archives

    June 2021
    August 2020
    June 2020
    May 2020
    April 2020
    February 2020
    January 2020
    October 2019
    January 2019
    July 2018
    June 2018
    January 2018
    January 2017
    December 2016
    November 2016
    March 2016
    December 2015
    October 2015
    December 2014
    November 2014
    July 2014
    June 2014
    May 2014
    June 2013
    July 2012
    June 2012
    April 2012

    Categories

    All
    2020 Quahog Day
    Be Your Own Landlord
    Bourne
    Bourne Flood
    Brewster
    Calfee Insurance
    Cape Cod Flood Insurance
    Cape Cod Flood Maps
    Cape Cod Golf
    Cape Cod Home Insurance
    Cape Cod Homeowners Insurance
    Cape Cod Insurance
    Cape Cod Quahog
    Cape Cod Real Estate
    Car Insurance
    Davidson Calfee
    Dennis
    East Falmouth
    Eastham
    Falmouth
    Falmouth Flood
    Falmouth Home Insurance
    Fire Insurance
    Flood Insurance
    Good Neighborhoods
    Harwich
    Home
    Home Contents Insurance
    Home Insurance
    Home Insurance For Cape Cod
    Hurricane Arthur
    Hyannis
    Insurance
    Insurance For Cape Cod
    Local Schools
    Low Wind Deductibles
    Martha's Vineyard
    Mashpee
    Mashpee Flood
    Mashpee Home Insurance
    Mortgage Interest Rates
    Nantucket
    North Falmouth
    Orleans
    Premiums
    Real Estate
    Remax
    Rental Insurance
    Renting
    Rising
    Sandwich
    Sandwich Home Insurance
    Truro
    Universal Property & Casualty
    UPCIC
    UPC Insurance
    Waterfront Properties
    Welfleet
    Wellfleet
    West Falmouth
    Woods Hole
    Yarmouth
    Youth Golf

    Picture
    Picture
    Picture
    Picture
    Arthur D. Calfee Insurance Agency, Inc. is proudly serving primary home, vacation home, auto, collector car, business, general liability, property, professional liability, contractor's liability, worker's comp, key man, whole life, term life, group or personal disability, & long-term care insurance policies to patrons in the following Cape Cod, Massachusetts towns, communities and villages: Barnstable, Bourne, Brewster, Buzzards Bay, Centerville, Chatham, Cotuit, Craigville, Dennis, Eastham, Falmouth, Hatchville, Harwich, Hyannis, Hyannisport, Marstons Mills, Mashpee, Orleans, Osterville, Provincetown, Sandwich, Truro, Wellfleet, Woods Hole, Yarmouth, and Yarmouthport.   
    Picture
    Cape Cod Home Insurance for Coastal Properties *Lowest Wind Deductibles *Most Discounts & Credits *Best Coverage Limits
    FREE QUOTES
Picture
Arthur D. Calfee Insurance Agency, Inc. is a friendly local insurance agency proudly offering Massachusetts, Cape Cod and the Islands.  A-Excellent AM Best rating, A+ Excellent by the BBB
Using innovative thinking, cutting-edge tools and expert resources at national and local levels, we deliver the best possible outcome on every policy we manage.  Need Home Insurance?  Easy, Fast, & Secure Home Insurance.  Get Free Quotes 100% Online Now!  Available 24/7.  Affordable Rates.  Cover Your Biggest Investments.  Get a homeowners insurance quote, find coverage options.  We'll help you understand and customize the right home insurance coverage for you. 

​Home is where your heart is—along with a healthy chunk of your net worth. Get started today with a free homeowner's quote. 

Compare home insurance quotes today and save on protection for your biggest investment. Build a Custom Policy & Make the Switch! Our local underwriting professionals focus exclusively on finding the best home insurance, homeowner's insurance, hazard insurance, investment property insurance, flood insurance, flood zone information, vacation home insurance, second home insurance, auto insurance, collector car insurance, business insurance, general liability insurance, property insurance, professional liability insurance, contractor's liability insurance, worker's comp insurance, key man insurance, whole life insurance, term life insurance, group or personal disability, & long-term care insurance policies to patrons in the following Cape Cod, Massachusetts towns, communities and villages: Barnstable, Bourne, Pocasset, Brewster, Buzzards Bay, Centerville, Chatham, Cotuit, Craigville, Dennis, East Dennis, Eastham, Falmouth, East Falmouth, Hatchville, West Falmouth, North Falmouth, Woods Hole, Harwich, Hyannis, Hyannisport, Martha's Vineyard, Nantucket, Marstons Mills, Mashpee, Orleans, Osterville, Provincetown, Sandwich, Sagamore, Sagamore Beach, Truro, Wellfleet, Yarmouth, and Yarmouthport.  Real-Time Pricing. Insurance coverage: Wind Damage, Fire Loss, Water Damage. Protect your home and belongings. Low Rates For Your Best Options to Save Money On Great Coverage! Get a quote today. Home insurance helps protect your house and your family. 

Testimonials & Endorsements for the Best Insurance Agent on Cape Cod, MA


CAPE COD MASSACHUSETTS HOME INSURANCE

Arthur D. Calfee Insurance Agency, Inc.


HOMEOWNERS INSURANCE
CAR INSURANCE
RENTERS INSURANCE
CONDO INSURANCE
BOAT INSURANCE
COMMERCIAL AUTO INSURANCE
BUSINESS INSURANCE
LIFE INSURANCE
LOCAL CAR INSURANCE
​LOCAL HOME INSURANCE
LONG TERM CARE INSURANCE
DISABILITY INSURANCE
​TERM INSURANCE
WHOLE LIFE INSURANCE
MORTGAGE PROTECTION
AUTO 

FLOOD

HOME
BOAT
BUSINESS
LIFE
OFFICES
CLIENT SERVICES
NEWS

PHONE:  (800) 479-2601  CUSTOMER SUPPORT & SERVICE

Falmouth Homeport Office - 336 Gifford Street  Falmouth, MA 02540      *      North Falmouth Village Office - 121 County Road  North Falmouth, MA 02556
​Please note: The above is meant as general information to help you understand the different aspects of insurance. This information is not an insurance policy, does not refer to any specific insurance policy, and does not modify any provisions, limitations, or exclusions expressly stated in any insurance policy. Descriptions of all coverages and other features on this page are necessarily brief; in order to fully understand the coverages and other features of a specific insurance policy, we encourage you to read the applicable policy and/or speak to an insurance representative. Coverages and other features vary between insurers, vary by state, and are not available in all states. Whether an accident or other loss is covered is subject to the terms and conditions of the actual insurance policy or policies involved in the claim. References to average or typical premiums, amounts of losses, deductibles, costs of coverages/repair, etc., are illustrative and may not apply to your situation. We are not responsible for the content of any third-party sites linked from this page.
© 2022 Copyright, Arthur D. Calfee Insurance Agency, Inc.
Calfee Cares.®  Privacy Policy
  • HOME
    • Send me a Home Insurance Quote >
      • Thank You! Home Insurance Rates Are On Their Way!
    • FLOOD Insurance, Massachusetts >
      • Pay Your Bill Online
      • Videos - Cape Cod Home Insurance
    • Cape Cod Home Insurance
    • Pay Your Home Insurance Bill Online
    • Ordinance or Law Coverage
    • How to Prevent a Claim on your Home Insurance Policy
    • Videos - Cape Cod Real Estate Tips >
      • Videos - How to Qualify a Tenant for your Cape Cod Home >
        • Videos - Cape Cod Real Estate Investing
    • Cape Cod Massachusetts Arbella Insurance Discounts
    • Cape Cod Massachusetts Lloyds of London Home Insurance
    • Safety Insurance Discounts for Cape Cod, Massachusetts
    • MPIUA - MA Property Insurance Underwriting Association "Fair Plan"
    • Cape Cod Massachusetts Home Protection Insurance
    • Hurricane Preparedness >
      • Cape Cod Massachusetts Hurricane Survival >
        • Cape Cod Massachusetts Hurricane Preparedness
  • AUTO
    • Send me an Auto Insurance Quote for Cape Cod, Massachusetts
    • BOAT Insurance >
      • Send me a Boat Quote
    • Cape Cod, MA Dept. of Motor Vehicles
    • Cape Cod Massachusetts - Report an Auto Insurance Claim
    • Auto Insurance Quote - CAR BUYING TIPS : Auto Insurance for Cape Cod, MA
    • InControl Driver Training
    • Car Insurance for Cape Cod Massachusetts - Arbella Insurance - Send me an Auto Quote >
      • Cape Cod Massachusetts Arbella Car Insurance Discounts
    • Plymouth Rock - Send me an Auto Quote >
      • Plymouth Rock Asurance Discounts
    • Encompass Insurance Discounts
    • Safety Insurance - Send me an Auto Quote >
      • Safety Insurance Discounts
    • Travelers Insurance Discounts
    • Progressive Insurance - Send me an Auto Quote
  • LIFE
    • Send me a Life Quote
    • Long Term Care >
      • Videos - Living Trust >
        • Videos - Life Insurance
  • OFFICES
    • Pay Your Bill Online
  • ABOUT US
    • Reviews & Testimonials
    • Contact Us
  • Stay Home
    • Pay Your Bill Online
    • Report an Insurance Claim
    • Send me a Home Quote
    • Send me an Auto Quote
    • Send me a Boat Quote
    • Send me a Business Quote
    • Send me a Life Quote
  • Home Insurance Explained
  • Agent Login
  • Privacy Policy
  • Videos - Cape Cod Real Estate Investing, Taxes & Insurance
  • Videos - Cape Cod Coastal Real Estate
  • Português