Indemnity

Plain English Definition: Compensation for loss or damage as specified in an insurance policy.

What Indemnity really means for someone with an insurance policy

Indemnity is the financial reimbursement given to policyholders after a covered loss or damage.

Indemnity Real World Examples

• Receiving indemnity for a stolen vehicle.
• Getting reimbursed for a damaged roof after a storm.
• Being compensated for lost luggage during travel.