Property insurance can seem like a maze, filled with confusing shortcuts. For our ESL readers and lifestyle enthusiasts, we’re simplifying this journey! Our post today introduces the top 20 property insurance abbreviations, essential for anyone navigating home safety and insurance decisions. Let’s demystify these terms together and make insurance a less daunting topic!
Property Insurance Abbreviations
- HOI: Homeowners Insurance
- RE: Real Estate
- PI: Property Insurance
- BPP: Business Personal Property
- COPE: Construction, Occupancy, Protection, and Exposure (used in assessing property risks)
- TIV: Total Insured Value
- ACV: Actual Cash Value
- RCV: Replacement Cost Value
- CAT: Catastrophe (as in CAT loss or CAT bond)
- EQ: Earthquake
- FL: Flood
- HO: Homeowner (used in policy types like HO-3, HO-5)
- DP: Dwelling Policy
- CGL: Commercial General Liability (often includes property coverage)
- BI: Business Interruption
- BB: Builders Risk
- FMV: Fair Market Value
- LOC: Loss of Use Coverage
- MFL: Maximum Foreseeable Loss
- PML: Probable Maximum Loss
Related:
Health Insurance Abbreviations
