Longmire Insurance Group

08/28/2026

OFTEN MISUNDERSTOOD INSURANCE TERMS_

Limit of Liability- The maximum amount the insurer will pay for a covered loss under a particular coverage, subject to the policy.

08/28/2026

OFTEN MISUNDERSTOOD INSURANCE TERMS

Premium- The price paid for the insurance policy.

08/27/2026

HOMEOWNER POLICY TERMS-

Unscheduled Property- Personal property covered under the general personal-property coverage rather than individually listed.

08/27/2026

08/27/2026

HOMEOWNER POLICY TERMS-

Scheduled Property- Specifically listed and separately insured valuable property, often with broader coverage.

08/26/2026

HOMEOWNER POLICY TERMS-

Personal Property- Your belongings-furniture, clothing, electronics, etc.

08/26/2026

HOMEOWNER POLICY TERMS-

Additional Living Expense- Extra costs you incur to maintain your normal standard of living while your home is temporarily uninhabitable due to a covered loss.

08/25/2026

HOMEOWNER POLICY TERMS-

Loss of Use- Coverage that can help with additional living expenses when a covered loss makes your home uninhabitable.

08/25/2026

HOMEOWNER POLICY TERMS-

Other Structures- Structures on your property that are separate from the dwelling-such as a detached garaged, shed or fence, subject to policy terms.

08/24/2026

HOMEOWNER POLICY TERMS-

Actual Cash Value (ACV)- Replacement cost minus depreciation.