Insurance Claim GlossaryThe words your carrier hopes you skip.
Plain-English definitions of the property insurance terms that decide how much of your claim gets paid, written for Florida policyholders, not adjusters.
36 terms
A
- Actual Cash Value (ACV)The replacement cost of damaged property minus depreciation for age and wear.
- Anti-Concurrent Causation (ACC)Policy language that can deny an entire loss when a covered and an excluded peril act together.
- Appraisal ClauseA policy provision for resolving disputes over the amount of a loss without litigation.
- Assignment of Benefits (AOB)An agreement transferring your policy’s post-loss claim benefits to a third party, such as a contractor.
B
- Bad FaithAn insurer’s failure to act fairly and honestly toward its policyholder.
- Black Water (Category 3)Grossly contaminated water, sewage, flood, or rising groundwater, that requires the most extensive remediation.
- Brittle TestA field method an adjuster uses to argue a shingle is aged and brittle rather than storm-damaged.
C
- Capillary ActionThe wicking of water upward through porous materials, spreading damage beyond the visible wet line.
- Catastrophe (CAT) ClaimA claim filed after an event the insurance industry formally designates a catastrophe, such as a named hurricane.
- Civil Remedy Notice (CRN)A formal Florida notice alleging an insurer acted in bad faith, giving it 60 days to cure.
- Continuous Load PathThe connected chain of structural connections that transfers wind uplift from the roof safely down to the foundation.
- Creased ShingleA shingle bent and cracked by wind uplift, leaving a horizontal crease that breaks its seal.
D
- Declarations PageThe summary front page of a policy listing the insured, limits, deductibles, and endorsements.
- DeductibleThe amount a policyholder pays out of pocket before the insurer pays the rest of a covered loss.
- Demand SurgeThe sharp, temporary spike in labor and material prices after a widespread disaster.
- Depreciation (Recoverable)The reduction in value for age and wear that carriers withhold from an ACV payment and you recover after repairs.
- Duties After LossThe obligations the policy places on you after damage occurs, such as prompt notice, mitigation, and cooperation.
H
L
M
P
- Peril (Named vs Open)A cause of loss; policies either list covered perils (named) or cover all causes except those excluded (open).
- Proof of LossA signed, often sworn statement itemizing the claimed loss that the insurer can require during a claim.
- Property Insurance MediationFlorida’s state-administered, non-adversarial program for resolving disputed residential property claims.
- PsychrometryThe science of measuring air temperature and humidity to control and prove structural drying.