Hazard Increase Resulting In Suspension Or Exclusion Of Coverage
Definition of "Hazard increase resulting in suspension or exclusion of coverage"
Provision commonly found in fire insurance contracts. If the insured knows that a hazard is increased, most property contracts permit the insurance company to suspend or terminate coverage. For example, manufacture of drugs in the home would give the insurance company the right to invoke this clause if it could show that the manufacturing process increases the probability of fire.
Popular Insurance Terms
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Coverage for a tenant with a favorable lease (enabling the lessee to rent premises for less than the market value). If the lease is canceled by the lessor because an insured peril (such as ...
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