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FAIR MARKET
VALUE - The price that a
willing buyer would pay a willing seller, neither being
under any compulsion to sell or buy.
FIRE
- Combustion sufficient to
produce a spark, flame, or glow and which is hostile (as
opposed to friendly - i.e., not in the place where it is
intended to be, such as in a furnace.)
FIRE INSURANCE
- Coverage for loss of or damage to a building and/or
contents due to fire.
FIRE RESISTIVE
CONSTRUCTION - A building,
which has exterior walls, floors, and roof constructed
of masonry or other fire-resistive materials.
FLOATER POLICY
- A policy under the terms of which protection follows
moveable property, covering it wherever it may be.
FLOOD INSURANCE
- A form of insurance designed to reimburse property
owners from loss due to the defined peril of flood. Can
be added as an extension to an All Risk policy.
FORGERY
- In general, any false writing
with intent to defraud.
FORM
- An insurance policy itself or
riders and endorsements attached to it.
FORTUITOUS EVENT
- An unforeseen accident. |
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