Definition of "Cotton insurance"

Coverage for property damage by a covered peril to insured cotton during the time period from its weighing in at the gin until its delivery to the buyer. Written either on a specified peril basis or on an all risks basis. The purpose of cotton insurance is much the same as the purchase of insurance by a merchant to protect business inventory prior to its sale, since in many instances the primary asset is the inventory.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Coverage in the event of damage or destruction resulting from collision by a vessel or high waves. Excluded are fire, lightning, windstorm, earthquake, and explosion, since these perils are ...

Executive of Travelers Insurance Company who developed the domino theory of accident causation by studying over 75,000 industrial accidents and concluding that most accidents would be ...

Annuity payments that continue for the life of the annuitant. ...

Person who engages an agent or broker for advice and possible purchase of insurance. ...

When we are young, we usually don’t take our retirement seriously and don’t even know the definition of an Individual Retirement Account (IRA). We become more preoccupied with ...

Coverage that is renewable at the option of the insured, who is not required to take a medical examination. Regardless of physical condition, the insured must be allowed to renew the policy ...

Endorsement to the special multiperil insurance (smp) policy that provides all risks damage coverage for real property. This special form provides only minimum cover, leaving the option for ...

Tax assessed by the states as a payroll tax on employers to pay for unemployment compensation ...

Estimate of the funds necessary to maintain the life-style of a family after the death of the wage earner. ...

Popular Insurance Questions