Definitions here are general. Policies, declarations and industry standards can use these words in specific ways, so check the wording in your own documents. Insurance terms are listed first, followed by the terms you will hear from the people doing the drying.

Insurance and association terms

Declarations (CC&Rs)
The association's founding document. It defines the unit boundaries, common elements, maintenance duties and insurance obligations.
Master policy
The association's property insurance for the building and common elements, and sometimes parts of unit interiors.
HO-6 policy
A condo unit owner's policy, typically covering interior finishes the master policy does not, personal property, liability and loss of use.
Loss assessment coverage
Part of an HO-6 that can help pay an owner's share of an association deductible or special assessment after a covered loss.
Improvements and betterments
Upgrades made to a unit after it was built, such as custom cabinets or stone floors. Whether they are covered depends on both policies.
Additional living expense
Coverage for extra costs of living elsewhere while a home is unlivable, often called loss of use.
Actual cash value and replacement cost
Two ways to value damaged property: replacement cost pays to replace with new; actual cash value subtracts depreciation.
Water backup endorsement
Optional coverage for water that comes up through drains or sewers, often excluded from standard policies.

Restoration and drying terms

Mitigation
Emergency work to stop damage from getting worse: extraction, removal of unsalvageable materials and drying.
Category 1, 2 and 3 water
An industry scale for contamination. Category 1 is clean water, Category 2 carries some contamination, and Category 3 is grossly contaminated, such as sewage.
Class of water loss
A rating of how much evaporation is needed, based on how much area and which materials are wet. Higher classes usually need more equipment or time.
Dry standard
A moisture reading taken from unaffected material of the same type, used as the target for drying.
Moisture map
A sketch of the affected area showing where readings were taken and how wet each spot was.
Flood cut
Removing the lower section of wet drywall at a set height to open the wall for drying or cleaning.
Low-grain refrigerant dehumidifier
A dehumidifier designed to keep removing moisture as the air gets drier, commonly used in structural drying.
Xactimate
Estimating software widely used by insurers and contractors to price restoration and repair work line by line.

General information for Cherry Creek, not a quote or professional advice. In an emergency, call 911.