Learn about what constitutes an estate in the realm of general insurance terms. An estate includes all the property a deceased person owns at the time of their death.
Understand the term 'Item' in general insurance—a reference to individual pieces of property covered by a policy or a schedule listing all insured property.
Learn the definition of 'Vendor' in general insurance terms. Understand the role of a Vendor, commonly referred to as the seller of a property, in insurance transactions.
Learn about Care, Custody, and Control (Liability), a category often excluded from liability insurance policies, and understand why these exclusions exist.
Learn about 'Salvage' in general insurance, where insurers take over property to minimize losses and understand its role in the insurance industry.
