Installation Insurance
Definition of "Installation insurance"
Property coverage on a dealer's interest in equipment while it is being installed. Labor and material are protected against such perils as fire, lightning, and windstorm. For example, if an elevator was installed and it was damaged or destroyed before the buyer could take possession, the contractor would lose the cost of labor and materials if there was no installation insurance.
Popular Insurance Terms
Coverage under the Homeowners Form-4 (HO-4) for the insured's personal property and loss of use against fire and/or lightning; vandalism and/or malicious mischief; windstorm and/or hail; ...
Same as term: generally accepted accounting principles (GAAP): ...
Extension of a Workers Compensation and Employers Liability Insurance policy to cover workers who go aboard ship to perform their jobs. ...
Upper limit on the maximum possible interest rate an insurance company will pay. If the market interest rates are below that maximum, the insurance company pays the market interest rate. In ...
Software program that can be utilized for viewing pages (web sites) on the world wide web of the internet. ...
Right of a policyholder, in life insurance with cash values, to continue full coverage for a limited period, as shown in a table in the policy, with no further premiums payable. ...
Average interest earned by an insurer on its investments after investment expense, but before federal income tax. ...
Risk management tool to determine risk exposure and to help spread the risk. A risk manager considers a business firm's individual exposures separately. As the number of exposures ...
Coverage against only two perils, fire and lightning. The amount of coverage is per acre of standing timber for either merchantable trees (living trees with no decay, and minimum diameter), ...
Have a question or comment?
We're here to help.