Winchester Insurance

No-Fault - Auto insurance coverage that pays for each driver's own injuries, regardless of who caused the accident. No-fault varies from state to state. It also refers to an auto liability insurance system that restricts lawsuits to serious cases. Such policies are designed to promote faster reimbursement and to reduce litigation.

Act of God - This is an accident or event that is unpreventable and is the result of natural causes such as lightning or floods. Actual Cash Value (ACV) - This is the replacement cost of your damaged or lost property at the time of the loss minus the depreciation. Replacement Cost - The cost to replace the property on the same premises with other property of comparable material and quality used for the same purpose.

After getting flood insurance, there are several things you can do to minimize losses in your home and ensure your family's safety. Create a personal "flood file" containing information about all your possessions and keep it in a secure place, such as a safe deposit box or waterproof container. First make sure your sump pump is working and then install a battery-operated backup, in case of a power failure. Raise your electrical components (switches, sockets, circuit breakers, and wiring) at least 12 inches above your home's projected flood elevation.

Umbrella liability insurance provides excess liability coverage over the insured's primary policies. Umbrella policies provide broader coverage than the underlying policies. An excess liability policy may also be called a following form policy (subject to the same terms of the underlying policies); may be a self-contained policy (subject to its own terms only); or may be a combination of both following form and self-contained policies.

Business Income - Commercial coverage that reimburses a business owner for lost profits and continuing fixed expenses during the time that a business must stay closed while the premises are being restored because of physical damage from a covered peril, such as a fire. Business interruption insurance also may cover financial losses that may occur if civil authorities limit access to an area after a disaster and their actions prevent customers from reaching the business premises.Depending on the policy, civil authorities coverage may start after a waiting period and last for two or more weeks.