Installation Insurance


Definition of "Installation insurance"

Anthony Piotrowski
  White Sands Realty & Assoc of NWF

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.


Search Real Estate Glossary

 

Related Real Estate Glossary terms

Loss Carryback

Ruling that, under current tax law, if an insurance company is to use a loss carryforward accounting ...

Subpoena Duces Tecum

Legal order for a person to present at a deposition or trial documents in his possession, such as re ...

Top-heavy Plan

Pension or other employee benefit plan that favors highly compensated employees or top executives or ...

No-fault Automobile Insurance

Type of coverage in which an insured's own policy provides indemnity for bodily injury and/or proper ...

Interest Deduction

Interest deductible for taxes paid by the taxpayer. It is an itemized deduction on Form (individuals ...

Developer

Individual who creates property improvements by making homes, shopping centers, and other commercial ...

Related Real Estate FAQ

What Is Earnest Money?

Earnest money is a deposit you make when you make an offer on a house. ...

What Is An Amortization?

The process of paying off a loan balance. As you make payments, a certain amount is applied to the p ...

What Are Comparables Or Comps?

Recently sold properties that are similar in size, location, and amenities to the home for sale. The ...

What Is An Adjustable-rate Mortgage (ARM)?

A type of mortgage in which the interest rate is keyed to a certain economic index and is adjusted a ...

What Is A VA Loan?

A VA loan is a type of loan available to veterans and guaranteed by the Department of Veterans\' Aff ...

What Is A Mortgage Banker?

A mortgage banker is a company that originates mortgages and sells them to a secondary market. ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

7 Tips for a First Time Homebuyer Rent or Buy - the pros and cons How To Choose A Realtor Why Right Now is a Good Time for Millennials to Buy a Home Home Prices - The Extra Costs

FAQ

What do I need to know about Group Health Insurance? What is earnest money? What are my coverage options? What are basis points? What is a home warranty?