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
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Irrevocable trust into which the grantor places assets and receives in turn a fixed amount of income from a fixed annuity (amount of income stipulated at the time the trust is established) ...
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