Equipment Dealers Insurance
Definition of "Equipment dealers insurance"
Coverage on all risks basis for such items as binders, reapers, harvesters, plows, tractors, pneumatic tools and compressors, bulldozers, and road scrapers. Excluded from coverage are wear and tear, loss due to delay, loss of market, consequential loss such as loss of income because of damage to the equipment, and mechanical breakdown. Property excluded includes aircraft, water craft, motor vehicles, and property sold on an installment contract basis after it has left the care, custody, and control of the insured dealer.
Popular Insurance Terms
Plan whereby adjustments are made in the premium, as the premium increases to reflect the non proportionate increases in expenses. Generally, the expenses of acquisition costs, ...
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in property and casualty insurance, termination of a policy because of failure to pay a renewal premium. in life insurance, termination of a policy because of failure to pay a premium and ...
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