Replacement cost coverage pays what it actually costs to repair or replace damaged property, without subtracting for depreciation. Learn how it works and what to watch for.
Actual cash value (ACV) is what an insurer pays for a damaged or stolen item after subtracting depreciation. Learn how ACV is calculated and how it compares to replacement cost.
A policyholder is the person who owns an insurance policy and holds its rights and responsibilities. Learn what a policyholder does and how it differs from the insured and beneficiary.
A PPO is a flexible health plan that lets you see any provider without a referral and offers some out-of-network coverage. Learn how PPO plans work and their trade-offs.
An HMO is a health plan that keeps costs low by using a network of providers and a primary care doctor who coordinates your care. Learn how HMO plans work and their trade-offs.
An insurance rider is an add-on that changes or expands your base policy’s coverage. Learn how riders work, common examples, and when adding one makes sense.
An out-of-pocket maximum is the most you’ll pay for covered health care in a year before your plan pays 100%. Learn how it works with deductibles, copays, and coinsurance.
An insurance claim is a formal request to your insurer to pay for a covered loss. Learn how the claims process works, what to expect, and how to file one successfully.
Coinsurance is the share of a medical bill you pay after meeting your deductible, usually expressed as a percentage. Learn how coinsurance works with a clear example.
The health insurance marketplace is where you can shop for and buy health coverage if you don’t get it through a job. Learn how it works and whether you might qualify for savings.