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Insurance Glossary

Insurance terms and definitions from Rocci Insurance Agency Inc.


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 Rocci Insurance Agency Inc. 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.

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Rocci Insurance Agency, Inc
811 W. Main St.
Louisville, OH 44641
Phone: 330.875.7156
Toll Free: 800.782.1212
Fax: 330.875.1872
Email:
rocci@rocciinsurance.com
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Rocci Insurance Agency, Inc. is the owner of the information, which is collected on this Web site. We will not sell, disseminate, disclose, trade, transmit, transfer, share, lease or rent any personally identifiable information to any third party not specifically authorized by you to receive your information except as we have disclosed to you in this Privacy Policy.

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We will ask you to provide your personal information to us when you enroll for coverage and when you purchase an insurance policy from us. We will also ask you to provide your personal information to us when you send e-mail to us from this Web site. When you enroll for an insurance policy at Rocci Insurance Agency, Inc., we will ask you to provide your name, home address, mailing address, telephone number and e-mail address. This information will be provided to the insurance company when you purchase an insurance policy so they can establish you as a policyholder. We will maintain a record of your information at the offices of Rocci Insurance Agency, Inc. so we can provide you with policyholder service. The employees of Rocci Insurance Agency, Inc. are each required to sign and acknowledge a Confidentiality and Nondisclosure Agreement. Each employee has been instructed on maintaining the privacy of each customer and the importance of protecting the customer's personal information.

When you purchase an insurance policy from Rocci Insurance Agency, Inc., you will pay the premiums with your credit card or personal check. If you use your credit card to pay the premium, your credit card information is deleted from our records after your purchase has been authorized. A transaction number will be provided to you on your Binder of Insurance. You may use this transaction number as a reference to the credit card purchase. We do not keep a record of your credit card information. If you pay the premium using your personal check, we will keep a copy of your check in your file.

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This Web site may contain links to third party Web sites that are not controlled by Rocci Insurance Agency, Inc. These third party links are made available to you as a convenience and you agree to use these links at your own risk. Please be aware that Rocci Insurance Agency, Inc. is not responsible for the content of third party Web sites linked to Rocci Insurance Agency, Inc. nor are we responsible for the privacy policy or practices of third party Web sites linked to Rocci Insurance Agency, Inc. Our Privacy Policy only applies to information we collect from you while you are at and while you are actively in a session with Rocci Insurance Agency, Inc. If you should link to a third party Web site from Rocci Insurance Agency, Inc., we strongly encourage you to review and become familiar with that Web site's privacy policy. 

Changes in Our Privacy Policy

We reserve the right to change this Privacy Policy without providing you with advance notice of our intent to make the changes.

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