Close Window x   Glossary A - B - D - E - F - I - M - N - P - R - T A Assault Robbery made by use of physical or moral (threats) violence towards the person, as long as they are inside premises. Additional Living Expense We pay for you housing and other living expenses if a major loss makes your house uninhabitable and you have to move out temporarily while it's being repaired. B Barratry Is the damage that may come from an act or omission by the captain, or the crew of a ship, by malice or dolus, either by inexperience, negligence or carelessness. D Debris Removal It covers all the expenses in order to remove debris after an accident. E Extended Coverage in case of Fire It will cover all goods included in Section (I) of Buildings and Section (II) of Building’s Contents for all risk due to damages or direct physical loss caused to the goods insured for fire and all unpredictable risks, and that are not mentioned in the Exclusions Section agreed in Section (I) of Buildings; and Section (II) of Building’s Contents product of ABASEGURO INTEGRAL FAMILIAR, or that are included in the optional coverage. F First Risk The insurance company completely pays damages suffered up to the insured sums, if and only if, the value of the Building and Contents of the Building are greater or equal to 70% of the reposition value of the goods insured when the claim occurs. Flood Covers damages caused by the temporary and accidental of the ground by water as a consequence of a deviation or overflow or rupture of retaiting walls of rivers, channels, lakes, dams, and other currents or deposits water, either natural or artificial. Flooding is not covered when it is caused by: Obstruction, inadequacy, deficiencies, rupture, or any other causes in the drainage Subsoil waters that cause infiltration or fractures in the foundations of the floors or the walls of the house. Natural rising of the tide. Spill from fire fighting equipment (sprinklers) Flooding caused by failing to close or leaks in faucets. I Inflation ABASEGUROS will increase, automatically, the Limit insured for your home and/or property due to inflation. M Maintenance and Visits It covers all the damages caused by the contractor, while performing jobs to fix defects that appear after the construction has finished and delivered to the client. N New Acquisitions We pay for your housing and other living expenses if a major loss makes your house uninhabitable and you have to move out temporarily while it's being repaired. P Property & Casualty It refers to the insurance for goods such as automobiles, house, business, airplanes, boats, machinery, electronic equipment, boilers and signs, among others. R Replacement Value It is the estimated cost of reconstructing your home or replacing your property. Replacement cost includes labor, materials, overhead, permits, and other fees, without considering deductions by depreciation. For example if your microwave oven is damaged by short circuit, and it is considered a total loss, ABA SEGUROS will pay you the amount needed to buy a new one, that has the same or similar features. T Theft with Violence Robbery by any person who uses force from the exterior to the interior of the house or building in which the goods are located, leaving visible signs of violence (broken window o door knob) in the place where person entered. Third Party Home and property: Any person that does not live permanently in you house or depends (economically) on the insured. Business: Person who is not none of the two or more those who takes part in the insurance contract.