Homeowners Insurance Glossary
General Cover Form.
An old term for Reporting Form policy. See Reporting Form. (PR)
General Property Form.
This form commonly in use for coverage on the property of commercial risks from whatever perils are specified in the contract. (PR)
Glass Coverage Form.
A commercial property form used to insure plate glass, lettering, frames and ornamentation. It has replaced earlier commercial glass insurance forms. (PR)
Grading Schedule for Cities and Towns.
A schedule prepared by the National Board of Fire Underwriters for the purpose of determining which of ten grades to assign to a city for fire rating purposes, based on such factors of fire protection as water supply. (PR)
Gross Earnings.
An accounting term, which is arrived at by subtracting the cost of goods, sold from the total sales. Traditionally, the term was used primarily in Business Interruption Insurance as the basis for determining how much insurance a policyholder should carry. The latest Business Income insurance forms have dropped this term. (PR)
Gross Earnings Form.
A form once used widely in the writing of Business Interruption Insurance. Coverage was written on either the Gross Earnings Form or the Earnings Form. The latest Business Income coverage forms no longer refer to gross earnings. (PR)
Group I Rates.
Under the latest commercial lines program, this term replaces the term "Fire Rates" for property coverage's. Rates are included in Group I for fire, lightning, explosion, sprinkler leakage and vandalism. (PR)
Group II Rates.
Under the latest commercial lines program, this term replaces the term "Extended Coverage Rates" for property coverage's. Rates are included in Group II for windstorm, hail, smoke, riot or civil commotion, aircraft, vehicles, sinkhole collapse and volcanic action. (PR)
Group Property and Liability Insurance.
The same definition as Group Life Insurance but applied to Property and Liability coverage's. See Group Life Insurance. (PR, LA)
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