Insurance & Risk Replacement Cost The amount it would take to rebuild a structure with similar materials at current prices.
Insurance & Risk Title Insurance (Owner’s Policy) Protects the buyer against losses from defects in title that existed before purchase.
Insurance & Risk Umbrella Policy Excess liability coverage above the limits of underlying property or auto policies.
Insurance & Risk Vacant Property Insurance Specialty coverage for unoccupied properties, often more expensive.
Insurance & Risk Builder’s Risk Insurance Coverage protecting a structure under construction from damage.
Insurance & Risk Builders Risk Course of Construction Coverage during the construction period for materials and work in progress.
Insurance & Risk Captive Insurance Self-insurance through a subsidiary insurance company owned by the insured.
Insurance & Risk Coinsurance Penalty A reduction in claim payment when a property is insured for less than its required percentage of value.
