Hawaii Homeowners Insurance Terms

Glossary of Homeowners Insurance Terms


A claims adjuster settles insurance claims typically by investigating losses and determining the extent of coverage.


A binder is a temporary legal agreement that states a policy is in effect until a formal policy can be issued. For example, when purchasing a home, a binder may be used to show a lender that the property is insured.


Depreciation is the decrease in value of property over time from age and normal wear and tear. Insurers have different ways of calculating depreciation, but in general, most take into account an item or property’s replacement cost value and life expectancy. Each year, the item or property loses a percentage of that amount.

DTRIC's Response to COVID-19Learn More