Call Us 970-901-0062 ☰ ˟
local insurance broker
Call Us 970-901-0062
  • Home
  • Our Agency
    • AboutImage of right arrow
      • Meet the Agent
      • Our Locations
    • Business & CommercialImage of right arrow
      • Coverage for Your Business
      • Coverage for Specific Industries
      • Workers Compensation
      • Special Events Insurance
    • Personal LinesImage of right arrow
      • Off-Road Vehicles Insurance
      • Homeowners
      • Automobile
      • Personal Umbrella Insurance
      • Recreational Vehicle
    • Companies We Represent
    • Privacy Policy
  • Products
    • Coverage for Your BusinessImage of right arrow
      • Commercial General Liability Insurance, Montrose CO | DC Insurers-Montrose
      • Business Owners Policy (BOP), Montrose CO | Mountain Insurance - Montrose
      • Business Auto Insurance | Mountain Insurance - Montrose
      • Commercial Property Insurance, Montrose CO | Mountain Insurance - Montrose
      • Commercial Umbrella Insurance, Montrose CO | Mountain Insurance - Montrose
      • Crime Insurance for Business, Montrose CO | Mountain Insurance - Montrose
      • Professional Liability Insurance, Montrose CO | Mountain Insurance - Montrose
      • Surety & Fidelity Bonds Near Grand Junction | Mountain Insurance - Montrose
      • Fidelity Bonds Near Grand Junction | Mountain Insurance - Montrose
      • Surety Bonds Near Grand Junction | Mountain Insurance - Montrose
      • Loss Control Insurance, Montrose CO | Mountain Insurance - Montrose
      • Data Backup Service Insurance, Montrose CO | Mountain Insurance - Montrose
    • Coverage for Specific IndustriesImage of right arrow
      • 4x4 Repair Shop Insurance | Garage Liability | Mountain Insurance - Montrose
      • Bed & Breakfast Insurance, Coverage for B&Bs | Mountain Insurance - Montrose
      • Bicycle Rental & Repair Shop Insurance | Mountain Insurance - Montrose
      • Construction Insurance, Montrose CO | Mountain Insurance - Montrose
      • Consulting Firm Insurance - Montrose CO & Grand Junction CO - Mountain Insurance - Montrose
      • Craft Brewery Insurance, Montrose CO | Mountain Insurance - Montrose
      • Excavation Contractor Insurance / Excavator Liability / Mountain Insurance - Montrose
      • Financial Institution Insurance, Montrose CO | Mountain Insurance - Montrose
      • Healthcare Facility Insurance, Montrose CO | Mountain Insurance - Montrose
      • Healthcare Practice Insurance, Montrose CO | Mountain Insurance - Montrose
      • Law Firm Insurance, Montrose CO | Mountain Insurance - Montrose
      • Livery Insurance, Montrose CO | Mountain Insurance - Montrose
      • Livestock Insurance, Montrose CO | Mountain Insurance - Montrose
      • Maintenance Contractors Insurance | Mountain Insurance - Montrose
      • Manufacturing Insurance, Montrose CO | Mountain Insurance - Montrose
      • Media & Advertising Insurance, Montrose CO | Mountain Insurance - Montrose
      • Orthotics & Prosthetics Insurance | Mountain Insurance - Montrose
      • Pool & Spa Insurance, Montrose CO | Mountain Insurance - Montrose
      • Power Sports Rentals | Mountain Insurance - Montrose
      • Printers & Publishers Insurance, Montrose CO | Mountain Insurance - Montrose
      • Railroad Contractors Insurance, Montrose CO | Mountain Insurance - Montrose
      • Real Estate Businesses Insurance, Montrose CO | Mountain Insurance - Montrose
      • Retail / Store Insurance, Montrose CO | Mountain Insurance - Montrose
      • School Bus Contractors Insurance, Montrose CO | Mountain Insurance - Montrose
      • Scrap Metal Business Insurance, Montrose CO | Mountain Insurance - Montrose
      • Security Guard Business Insurance, Montrose CO | Mountain Insurance - Montrose
      • Self-Storage Business Insurance, Montrose CO | Mountain Insurance - Montrose
      • Septic Contractors Insurance, Montrose CO | Mountain Insurance - Montrose
      • Specialty Trade Contractors Insurance | Mountain Insurance - Montrose
      • Truck Equipment Insurance, Montrose CO | Mountain Insurance - Montrose
      • Technology Services Insurance, Montrose CO | Mountain Insurance - Montrose
      • Tow Truck Insurance, Montrose CO | Mountain Insurance - Montrose
      • Zipline Tours Insurance | Zip Line Liability | Mountain Insurance - Montrose
      • Water Well Drillers Insurance, Montrose CO | Mountain Insurance - Montrose
    • Workers Compensation
    • Special Events Insurance
    • Snowmobile and ATV Rental Insurance
    • HomeownersImage of right arrow
      • Home & Auto Insurance Near Grand Junction | Mountain Insurance - Montrose
      • Property Insurance Near Grand Junction | Mountain Insurance - Montrose
      • Homeowners Liability Insurance | Mountain Insurance - Montrose
      • Renters Insurance Near Grand Junction | Mountain Insurance - Montrose
      • Condo Insurance Near Grand Junction | Mountain Insurance - Montrose
      • Mobile Home Insurance, Montrose CO | Mountain Insurance - Montrose
      • Landlords Insurance, Montrose CO | Mountain Insurance - Montrose
      • Home Business Insurance, Montrose, CO | Mountain Insurance - Montrose
      • Identity Theft Insurance, Montrose CO | Mountain Insurance - Montrose
    • AutomobileImage of right arrow
      • Cheap Car Insurance Colorado / Car Insurance Quotes Colorado / Mountain Insurance - Montrose
      • Auto Liability Coverage, Montrose CO | Mountain Insurance - Montrose
      • Comprehensive Auto Coverage, Montrose CO | Mountain Insurance - Montrose
      • Auto Collision Coverage, Montrose CO | Mountain Insurance - Montrose
      • Uninsured /Underinsured Motorist Coverage | Mountain Insurance - Montrose
      • Diminishing/Vanishing Deductible, Montrose CO | Mountain Insurance - Montrose
      • Accident Forgiveness Coverage, Montrose CO | Mountain Insurance - Montrose
      • Minor Auto Violation Forgiveness | Mountain Insurance - Montrose
      • Roadside Assistance Coverage, Montrose CO | Mountain Insurance - Montrose
      • Specialty Auto Insurance, Montrose CO | Mountain Insurance - Montrose
      • SR-22 Auto Insurance | SR-22 Insurance | Mountain Insurance - Montrose
      • Towing Services Coverage, Montrose CO | Mountain Insurance - Montrose
      • Rental Reimbursement Coverage, Montrose CO | Mountain Insurance - Montrose
      • Personal Injury Protection (PIP) Coverage | Mountain Insurance - Montrose
      • Medical Payments Coverage, Montrose CO | Mountain Insurance - Montrose
    • Umbrella
    • Recreational VehiclesImage of right arrow
      • Motorcycle Insurance Near Grand Junction | Mountain Insurance - Montrose
      • Boat / Watercraft Insurance, Montrose CO | Mountain Insurance - Montrose
      • Motorhome / RV Insurance Near Grand Junction | Mountain Insurance - Montrose
      • ATV Insurance Near Grand Junction | Mountain Insurance - Montrose
      • Snowmobile Insurance Near Grand Junction | Mountain Insurance - Montrose
  • Get a Quote
  • Contact Us
  • Location & Hours
Power Sports Rentals Icon

Power Sports Rental Insurance

We browse through a wide variety of coverages and find the right one for you.

Learn More
Business Icon

Business Insurance

We browse through a wide variety of coverages and find the right one for you.

Learn More
Life Insurance Icon

Life Insurance

We browse through a wide variety of coverages and find the right one for you.

Learn More
Auto Icon

Auto Insurance

We browse through a wide variety of coverages and find the right one for you.

Learn More
Home Icon

Home Insurance

We browse through a wide variety of coverages and find the right one for you.

Learn More
Home > Glossary > H

Insurance Glossary

Insurance terms and definitions from Mountain Insurance.


Coverages and benefits listed below may not be available in your state. If available, some optional coverages and benefits might be offered at an additional charge. Contact Mountain Insurance today to learn more.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
HACKER INSURANCE
A coverage that protects businesses engaged in electronic commerce from losses caused by hackers.

HARD MARKET
A seller’s market in which insurance is expensive and in short supply.

HOMEOWNERS INSURANCE POLICY
The typical homeowners insurance policy covers the house, the garage and other structures on the property, as well as personal possessions inside the house such as furniture, appliances and clothing, against a wide variety of perils including windstorms, fire and theft. The extent of the perils covered depends on the type of policy. An all-risk policy offers the broadest coverage. This covers all perils except those specifically excluded in the policy.

Homeowners insurance also covers additional living expenses. Known as Loss of Use, this provision in the policy reimburses the policyholder for the extra cost of living elsewhere while the house is being restored after a disaster. The liability portion of the policy covers the homeowner for accidental injuries caused to third parties and/or their property, such as a guest slipping and falling down improperly maintained stairs. Coverage for flood and earthquake damage is excluded and must be purchased separately.

HOUSE YEAR
Equal to 365 days of insured coverage for a single dwelling. It is the standard measurement for homeowners insurance.

HURRICANE DEDUCTIBLE
A percentage or dollar amount added to a homeowner’s insurance policy to limit an insurer’s exposure to loss from a hurricane. Higher deductibles are instituted in higher risk areas, such as coastal regions. Specific details, such as the intensity of the storm for the deductible to be triggered and the extent of the high risk area, vary from insurer to insurer and state to state.


NOTICE: These glossary definitions provide a brief description of the terms and phrases used within the insurance industry. These definitions are not applicable in all states or for all insurance and financial products. This is not an insurance contract. Other terms, conditions and exclusions apply. Please read your official policy for full details about coverages. These definitions do not alter or modify the terms of any insurance contract. If there is any conflict between these definitions and the provisions of the applicable insurance policy, the terms of the policy control. Additionally, this informational resource is not intended to fully set out your rights and obligations or the rights and obligations of the insurance company, agent or agency. If you have questions about your insurance, you should contact your insurance agent, the insurance company, or the language of the insurance policy.

Insurance Websites Designed and Hosted by Insurance Website Builder
Glossary content provided by Insurance Information Institute and ITC

Contact Us Today!
970-901-0062

Social Social Social Social

Resources

  • Get A Quote
  • Customer Service
  • Payment Options
  • Report a Claim
  • News
  • About Us
  • Refer A Friend
  • Our Carriers
  • Blog
  • Contact Us

Contact Us

102 N Lot Ave
Montrose, CO 81401

P: 970-901-0062 | Fax: 303-420-2882

Proudly serving Montrose, CO, Grand Junction, CO, Glenwood Springs, CO, Colorado Springs, CO, Ouray, CO, Crested Butte, CO, Gunnison, CO, Telluride, CO, Ridgway, CO, Delta, CO, Silverton, CO, and surrounding areas.
Licensed in Colorado, New Mexico, Arizona, Idaho, Iowa, Louisiana, Maine, Minnesota, Oregon, Texas and Utah. Mountain Insurance -Montrose 102 N Lot Ave Montrose, CO 81401

© Copyright 2020. All rights reserved. Mountain Insurance Colorado Springs | Powered by Insurance Website Builder