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
Same as term CEDE: to transfer a risk from an insurance company to a reinsurance company. ...
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Total premiums received by a property and liability insurance company without any adjustments for the ceding of any portion of these premiums to the reinsurer. ...
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