What is a deductible vs a premium?
Premium buys the policy; deductible is your share of a covered claim.
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Learning Center
Insurance basics FAQs
Premiums, deductibles, exclusions, Learning Center.
What is an exclusion?
Something the policy says is not covered.
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What is an endorsement?
A written change to the policy.
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What is a binder?
Temporary coverage proof until the policy issues.
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What does limits mean?
Maximum the insurer pays for a covered claim under that coverage.
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What is personal liability on homeowners?
If you are legally responsible for certain injury/damage to others (non-business).
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Does personal umbrella cover business?
Usually excluded—use commercial umbrella for business.
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What is a declared driver?
A driver listed so the insurer can rate and cover them.
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What is an excluded driver?
Someone listed as not covered to drive your vehicles.
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What is multi-policy discount?
Discount for bundling lines.
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What is claims-free discount?
Discount for going without chargeable claims for a period.
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Should I report a small claim?
Weigh damage vs deductible and rate impact—ask an agent first.
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What is first notice of loss?
Your first report of a claim.
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Can the chat bot quote insurance?
No—general education only; agents quote.
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Where can I learn insurance terms?
See /learn/glossary/ in the Insurance Learning Center.
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What is the Insurance Learning Center?
SHI's free glossary and FAQ hub for general insurance education.
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What is a material change in risk?
A change (new business, pool, young driver) you should report.
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What is paperless discount?
Small discount for electronic documents when offered.
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Tip for photographing inventory?
Video each room yearly; store offsite for claims.
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What is new-home discount?
Some insurers discount newer homes.
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Questions about your coverage? Request a personal quote or call (740) 642-3333.
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