What does Rolling Total mean? Read on to discover the definition & meaning of the term Rolling Total - to help you better understand the language used in insurance policies.
Relates to pure extra expense coverage provided in the CP 00 50 (Extra Expense Coverage Form). The insured chooses a rolling total payout percentage, meaning that the insured has access to progressively higher percentages of the total limit during each 30 day period.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Rolling Total. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: