What does FAIR Plan mean? Read on to discover the definition & meaning of the term FAIR Plan - to help you better understand the language used in insurance policies.
The FAIR plan stands for Fair Access to Insurance Requirements. It is a state-mandated program designed to help those who cannot get insurance coverage for their property due to extremely high risk. Those who, for example, live in flood plains, tornado alleys, and hurricane-prone coastal regions may qualify for FAIR plan coverage.
We hope the you have a better understanding of the meaning of FAIR Plan.