Indemnification

Plain English Definition: Compensation for loss or damage covered under an insurance policy.

What Indemnification really means for someone with an insurance policy

Indemnification ensures policyholders are compensated to restore their financial position after a covered loss, subject to policy terms.

Indemnification Real World Examples

• A car insurance policy paying for vehicle repairs after an accident.
• Homeowners receiving compensation for fire damage repair costs.
• Medical insurance covering hospital bills after surgery.