Hazard

The chance of loss or the person, property, or entity insured under a policy.

The cause of a possible loss, such as fire, theft, windstorm, or collision.

The process by which an insurer evaluates the risk of insuring a person or property and determines coverage terms and premium rates.

An unexpected event or circumstance without deliberate intent that results in injury, damage, or loss.

The scope of protection provided under an insurance policy, including the types of losses and risks that are covered.

The amount you must pay out-of-pocket before your insurance coverage begins to pay for covered losses.

Specific conditions, circumstances, or types of losses that are not covered by an insurance policy.