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Insurance Glossary

 

 

 

Habitational Risk

A property used for shelter.

 

 

Health Insurance

A catch all term for insurance that affords protection from an illness or injury which results in a loss of life, a loss of earnings or out of pocket expenses. Some examples of health insurance are disability insurance, medical insurance, dental insurance, etc.

 

 

Health Maintenance Organization (HMO)

A health insurance plan which requires you to work through the insurers affiliated physician and facility network resulting in lower health costs than other health insurance plans. Patients typically small pay a flat rate amount per visit or prescription. HMO plans typically require you to specify a primary care physician from their list of doctors. The primary care physician must authorize any and all referrals to other doctors for treatment to be covered.

 

 

Highly Protected Risk (HPR)

Insurance plans available to large commercial properties which meet stringent safety standards to qualify for lower premiums.

 

 

Homeowners Insurance

Insurance that combines liability insurance and hazard insurance. Required by most mortgage lenders.

 

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