Definition and meaning of Demolition Insurance :

Demolition Insurance: Insurance written to cover the cost of demolition excluded by a demolition clause. It may be endorsed to Property Insurance for an additional premium. See also Demolition Clause. (PR)

(Source: InsWeb)

Also see these pages: Demolition Insurance , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - D

For more dictionary entries, see » Property Insurance Dictionary

Definition and meaning of Flood Insurance :

Flood Insurance: A form of insurance designed to reimburse property owners from loss due to the defined peril of flood. Usually sold in connection with a government Flood Insurance plan. (PR)

(Source: InsWeb)

Also see these pages: Flood Insurance , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - F

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Definition and meaning of General Property Form :

General Property Form: This form commonly in use for coverage on the property of commercial risks from whatever perils are specified in the contract. (PR)

(Source: InsWeb)

Also see these pages: General Property Form , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - G

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Definition and meaning of Outage Insurance :

Outage Insurance: A type of insurance which covers against loss of earnings due to the failure of machinery to operate because of an insured peril causing damage to the premises. Similar to Extra Expense Insurance. (PR)

(Source: InsWeb)

Also see these pages: Outage Insurance , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - O

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Definition and meaning of Explosion Insurance :

Explosion Insurance: Insurance against loss of property due to explosion but not including explosion of steam boilers, pipes, and certain pressure instruments. Most commonly written as part of the Extended Coverage Endorsement. (PR)

(Source: InsWeb)

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Definition and meaning of Earnings Insurance :

Earnings Insurance: A form of Gross Earnings Business Interruption Insurance, whose principal feature is the lack of a coinsurance clause. It is designed for small risks, and the maximum amount of loss the insured can collect in any 30-day period is established when the policy is written. (PR)

(Source: InsWeb)

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Definition and meaning of Livestock Insurance :

Livestock Insurance: A named perils contract that provides a prescribed lump sum payment to an insured upon the death of any animal covered by the policy. (PR)

(Source: InsWeb)

Also see these pages: Livestock Insurance , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - L

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Definition and meaning of Household Personal Property :

Household Personal Property: The term given to household goods, furniture and personal belongings of residents of a farm dwelling. The Farm Property Coverage Form uses the term "household" to distinguish it from the separate coverage for "farm" property. Contrast with Farm Personal Property. (PR)

(Source: InsWeb)

Also see these pages: Household Personal Property , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - H

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Definition and meaning of Schedule :

Schedule: A list of individual items covered under one policy, such as various buildings and contents. (PR)

(Source: InsWeb)

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Definition and meaning of Stock :

Stock: Merchandise for sale or materials in the process of manufacture, as distinguished from furniture, fixtures, or equipment. (PR)

(Source: InsWeb)

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Definition and meaning of Crop Insurance :

Crop Insurance: Provides protection against damage to growing crops by such perils as hail, windstorm, and fire. Traditionally, crop-hail coverage was the most common coverage sold. In recent years premiums for broad multi-peril crop insurance (MPCI) have exceeded those for the crop-hail business. (PR)

(Source: InsWeb)

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Definition and meaning of Rain Insurance :

Rain Insurance: A type of coverage which protects an insured against losses caused by cancellation of an outdoor event due to rain. The policy usually covers loss of income. The rain, hail, snow or sleet usually must exceed a certain amount and must occur during a stated period of time, either before or during the event. (PR)

(Source: InsWeb)

Also see these pages: Rain Insurance , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - R

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Definition and meaning of Subsidence :

Subsidence: Movement of the land on which property is situated. A structure built on a hillside may slide down the hill due to earth movement caused by heavy rains. This is different from earthquake damage. (PR)

(Source: InsWeb)

Also see these pages: Subsidence , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - S

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Definition and meaning of Livestock Mortality Insurance :

Livestock Mortality Insurance: The equivalent of Life Insurance for livestock. (PR)

(Source: InsWeb)

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Definition and meaning of Machinery Breakdown Insurance :

Machinery Breakdown Insurance: See Boiler and Machinery Insurance. (PR)

(Source: InsWeb)

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Definition and meaning of Property Insurance Loss Register, PILR :

Property Insurance Loss Register (PILR): A computerized record of all fire losses over $500 established by the American Insurance Association (AIA). The PILR enables companies to determine undisclosed duplicate insurance coverage and patterns of losses on submitted risks. (PR)

(Source: InsWeb)

Also see these pages: Property Insurance Loss Register, PILR , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - P

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Definition and meaning of Farm Property Coverage Form :

Farm Property Coverage Form: A farm coverage form which may be used to cover residential dwellings, other private structures, household personal property, farm personal property, and other farm structures. (PR)

(Source: InsWeb)

Also see these pages: Farm Property Coverage Form , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - F

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Definition and meaning of Profits and Commissions Insurance :

Profits and Commissions Insurance: A kind of insurance with which a salesman or a sales agent whose income is tied to profits or commissions on certain property can insure against loss of income due to the destruction of the property. (PR)

(Source: InsWeb)

Also see these pages: Profits and Commissions Insurance , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - P

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Definition and meaning of Risk :

Risk: The physical units of property insured or the physical units of property at risk. Contrast with Peril and Hazard. (PR)

(Source: InsWeb)

Also see these pages: Risk , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - R

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Definition and meaning of Business Interruption Insurance :

Business Interruption Insurance: A time element coverage that pays for loss of earnings when operations are curtailed or suspended because of property loss due to an insured peril. Now referred to as business income insurance. See Business Income Coverage Form. (PR)

(Source: InsWeb)

Also see these pages: Business Interruption Insurance , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - B

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Definition and meaning of Object :

Object: In Boiler and Machinery Insurance, the name of the vessel insured; the object of insurance. (PR)

(Source: InsWeb)

Also see these pages: Object , Property Insurance, Property Insurance Sitemap,  Insurance, Insurance Sitemap, Insurance Dictionary - O

For more dictionary entries, see » Property Insurance Dictionary