The A-Z House Insurance Guide.
When looking into buying house insurance it can be a bit daunting when you come across all the terminology involved. So we have compiled a guide to insurance terminology.
Click on the relevant letter that the term or word begins with and find out what it means.
Betterment
This principle can be applied when the insured property in question will end up being in a better state of condition and repairs have been made through the cover in the policy. It can be that a payment is made by the insured to be able to gain this benefit in full although this should be checked and is different depending on the insurer involved.
Broker
This is a company that is registered with the Insurance Brokers Registration Council (IBRC) under the Insurance Brokers (Registration) Act 1977.
Buildings Insurance
An insurance policy that covers the physical structure of a building against a number of different risks such as flooding and fire damage.
