Difference In Conditions Insurance
Definition of "Difference in conditions insurance"
Coverage for a physical structure, machinery, inventory, and merchandise within the structure in the event of earthquakes, flood collapses, and subsidence strikes. Even though coverage is on an all risks basis, important perils are excluded such as fire, vandalism, sprinkler leakage, employee dishonesty, boiler and machinery losses, and mysterious disappearance, since it is assumed that the insured business already has coverage for these perils under a business property insurance policy.
Popular Insurance Terms
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Total earned premiums minus total expenses and losses paid of the insurance company. ...
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