Insurance Terminology	Explanation
Perils or Risks	Anything which causes damage or loss to your home or its contents such as fire, lightning, smoke, wind or hail, vandalism, theft and many other causes.
Exclusions	Those things which are specifically listed in your policy for which coverage is not provided.
Personal Property or Contents	Everything which you move into your home which is not a permanent part of the structure.
National Flood Insurance Program	A Federally run program, which is the only source from which you can purchase flood insurance
Actual Cash Value	The original value of an item, minus depreciation
Replacement Cost Guarantee	Pays the full cost to repair or replace your dwelling or personal property, even if it exceeds the original cost.
Additional Living Expense Coverage	Pays for the additional costs of lodging, meals and other expenses if you must live elsewhere while your home is being repaired.
Family Liability	Pays for accidental injuries or damage to others' property which are caused by you or your family members.
Guest Medical	Pays for the accidental injuries of guests at your home, regardless of who was at fault.
Deductible	The amount of the loss which you pay before the insurance company begins to pay. For example, if you have $1000 of storm damage to your roof and you have a $250 deductible, you will pay the first $250 and the company will pay the remaining $750

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