Personal Injury Protection (PIP) — Coverage provided by the insurer for all medical expenses, lost wages (state laws may vary) and other expenses up to your limits regardless of the party at fault.
Personal Liability — The part of your homeowners insurance policy (Coverage E) that covers any legal expenses if you or one of your dependents is held liable for bodily injury or property damage.
Personal Property Insurance — The part of a homeowners insurance policy (Coverage C) that covers personal belongings. Be sure to account for the personal belongings for each member in your household. This includes smartphones, laptops, TVs, bikes, furniture, jewelry and clothing.
Personal Property Replacement Cost — Extra coverage to pay for the cost to replace or repair your personal belongings with a new one of like kind and quality.
Policy Period — The time period in which the insurance policy is active and effective.
Premium — The amount to be paid to the insurer in order to keep an insurance policy active.
Property Damage Liability — A type of coverage that protects the insured from paying for damages incurred to another person's personal property.