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ALL RISKS INSURANCE - Protection for loss arising from any accidental cause other than those perils or causes specifically excluded by name. 

BOILER AND MACHINERY COVERAGE - Insurance against accidental loss arising from the operation of boilers, machinery and miscellaneous equipment. 

BOND - An instrument secured to guarantee performance and/or protection for all parties to an agreement. 

CANCELLATION - Termination of a policy before expiration, by the insured or the carrier. 

CO-INSURANCE - A provision requiring the insured to cover a specified percentage of the property value. Payments are reduced by the amount of insurance that falls short of the specified percentage of the property value. 

DEDUCTIBLE CLAUSE - The amount deducted from a loss, or the liability for the excess of the stated amount. 

DEPOSIT PREMIUM - The deposit required on insurance subject to premium adjustment. 

EARNED PREMIUM - Premium paid in advance for a certain period, the company earns a portion of the premium as time elapses during that period. 

ENDORSEMENT - A form bearing the language necessary to record a change in a policy. 

EXCESS INSURANCE - Coverage for losses or damage in excess of a stated amount. 

EXCLUSION - Hazards, circumstances or property not covered by the policy. 

FLORIDA FIRE INSURANCE TRUST FUND - A State Self-insurance Fund to insure those properties owned by the State against loss from fire and hazards customarily insured by extended coverage, excluding museum collections, artifacts, relics, fine art, boilers and machinery, nuclear reactors and nuclear fissionable material. 

FLORIDA CASUALTY INSURANCE TRUST FUND - A State Self-Insurance Fund to provide insurance for Workers’ Compensation, General Liability and Fleet Automobile Liability. 

INLAND MARINE - Insurance for property generally moved from one place to another. 

PERIL - The cause of loss insured against in the policy; i.e., fire, windstorm, explosion, etc.

PHYSICAL DAMAGE INSURANCE - Coverage against collision, upset or overturn, fire, theft, combined additional coverage or comprehensive coverage under an automobile policy. 

RATE - The cost of a unit of insurance. 

RENEWAL - A policy issued to renew one which is expiring. 

RISK - Any chance of loss to the insured or the property to which the insurance policy relates. 

SELF-INSURANCE - Money set aside by the State for funding losses ordinarily covered by an insurance program. Monies normally used for premiums are added to the fund to cover losses.