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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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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