Since 1943, Schuetz Insurance has served the heart of Indianapolis, upholding the tradition of being a steadfast guardian for our neighbors. With the wisdom gathered through years of dedicated service, we know how important it is for you to understand the tools that ensure your peace of mind. In the spirit of continued education and community support, we present a glossary of ten common insurance terms explained—simple knowledge that has protected our cherished community for generations.

 

10. Policy Period

Lastly, the policy period defines the length of time your policy guards you. Just as the seasons cycle from planting to harvest, so does your policy, ensuring that the protection agreed upon is always current, always ready.

9. Appraisal

An appraisal is a cornerstone of a fair and honest claim settlement. It’s a professional assessment of value, so in times of loss, you receive restoration that truly reflects what was affected. It ensures that fairness is the measure of our aid.

8. Peril

Peril in insurance terms stands for the storms we safeguard against—be it fire, wind, or other forces that test our mettle. Naming these perils in your policy is like setting sentinels along the ramparts, keeping watch over your most treasured assets.

7. Quote

When we craft a quote, we are providing a portrait of potential protection, a blueprint of the coverage we can offer you tailored perfectly to your needs, like a custom-fit shoe, crafted on the last of our legacy of protection.

6. Insurance Carrier

The insurance carrier is the fortress behind our promise, the financial strength that ensures that the assurances we provide are backed by a bastion of reliability. We choose our carriers with the same care a farmer selects seeds in the spring—for their ability to grow and sustain through all seasons.

5. Insurance Agency

We, your insurance agency, are your local liaison to the world of insurance. Our role embraces much more than policies and paperwork. We are advisors, confidants, and, above all, your neighbor, looking out for the community that we all call home.

4. Claim

A claim is a declaration of your need, a signal to us that the time to fulfill our promise has arrived. Filing an insurance claim opens the door for us to support you, to bring you back to where you stood before fate had its say.

3. Deductible

In the spirit of shared responsibility, the deductible is the portion of the loss you handle—a way of reminding us that while we are in this together, there is strength and honor in personal commitment. What does deductible mean in insurance? It’s the amount you agree to pay out of pocket before your coverage takes hold.

2. Premium

The premium is not just an exchange of money; it’s an investment in a worry-free future. It’s the regular payment you make to us, entrusting your hard-earned dollars to ensure that when misfortune strikes, your hardship is lessened because we share the burden.

1. Policy

At its core, an insurance policy is a promise—a sacred trust akin to a handshake between kin. It’s a contractual agreement where you, our cherished policyholder, and we, your dependable insurance agency, understand and agree on the protections provided. This policy is your assurance that in times of trouble, we are there.

As we have been since the early days of our business, Schuetz Insurance is more than a name—it’s a commitment to each of you. Understanding these insurance terms you should know enhances our shared language of preparedness and protection. With this shared knowledge, we continue to stand united as a community. With trust, we continue our legacy of unwavering support.

 

Partnering for a Secure Future

Schuetz Insurance is more than just an insurance provider; we are a trusted partner committed to protecting the businesses in our community. With over 80 years of experience, we have the knowledge and expertise to offer customized insurance solutions that meet your specific needs. Contact us today to learn more about how we can help protect your business and ensure its long-term success.

By partnering with Schuetz Insurance, you gain more than just coverage—you gain peace of mind knowing that your property is protected by experts who care about your safety and financial security.