A provision in an insurance policy most commonly found in fire insurance providing indemnification for the cost of removal of the debris after a fire.
Declaration
Statement, signed by the insured, warranting that information given by him is true.
Decline
To refuse acceptance of an insurance application.
Deductible
An agreed specified sum to be deducted from the amount of loss and assumed by the insured. See also Franchise.
Deductible Clause
A clause defining the amount of loss for which insured is liable defines insurer's and insured's contributions to cover losses.
Depreciation
Reduction in value of property through use, aging, deterioration and obsolescence.
Directors and Officers Liability Insurance
Protection for officers and directors of a corporation against damages resulting from negligent or wrongful acts in the course of their duties. Also covers the corporation for expenses incurred in defending lawsuits arising from alleged wrongful acts of officers or directors. These policies always require the insured to retain part of the risk uninsured.
Disability
Inability to carry on in one's normal occupation due to accident or sickness.
Disclosure
Act of making known something known.
Dwelling
The living quarters occupied, or intended for occupancy, by a household.
