Glossary

Covers reasonable and necessary additional costs of temporary housing and living expenses if an insured is unable to live in their insured home after a loss that is covered under their homeowner’s policy.

Optional coverage that pays medical expenses for an insured or passengers in the event of an auto accident, regardless of who is at fault.

Optional coverage in an auto insurance policy that covers the damage to an insured car from a collision or rollover.

Optional coverage in an auto insurance policy that covers theft or other damage not covered by collision coverage (such as hail, wind, or fire).

Part of a property insurance policy that covers the removal of debris resulting from an insured peril causing loss to an insured home.

Part of an insurance policy that identifies the policyholder, property or vehicles being insured, coverage, deductible, limits of coverage, premiums and supplemental policy information.

Amount of money that an insured pays out of pocket before reimbursements from the insurance company begin.

An attachment to an insurance policy that alters the policy’s coverage, terms, provisions or conditions.

A provision in an insurance policy that excludes or limits certain coverage for certain perils, persons, property, activities, events or locations.

Insurance coverage for property that is mobile in nature and may be of high value, such as jewelry, sports equipment, fine arts, antiques, or coin or stamp collections.

The maximum amount of insurance that can be paid for a covered loss, as stated in the policy.

A clause in your insurance policy that makes a claim jointly payable to an insured and the party that holds the mortgage on your property.

A type of mutual insurance company insurance policy under which an insured cannot be assessed for additional amounts to make up shortfalls in the cost of operating the company.

A specific risk or cause of loss covered by an insurance policy, for example fire, hail, windstorm, theft or collision.

Tax paid to the state by the insurance company based on premiums paid by its customers.

Legal process where the insurance company, after paying for a loss, seeks to recover the amount of the loss from another party who is legally liable for it.

Life, health, and business products offered by our agents through affiliated companies. Visit specific section for details.

Life insurance and annuity products are offered through Farm Bureau Life Insurance Company, West Des Moines, IA.

This is a general description and not a policy contract. Please read the actual policy documents for important details on coverages, exclusions, limits, conditions and terms. If there is any conflict between the information found on this website and the policy, the policy prevails.