Leasehold Insurance
Definition of "Leasehold insurance"
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 fire) strikes, the lessee is indemnified for the loss incurred. The premise is that the lessee will have to forgo earnings derived from having an advantageous lease, and should be indemnified for this incurred loss.
Popular Insurance Terms
Insurance company representative who sells debit life insurance (industrial life insurance). This agent is usually more of a collector of small premium payments on a weekly, biweekly, or ...
Use of the threat of violence or actual violence in taking property from someone else's possession. This peril is covered on a personal basis through the purchase of a homeowners insurance ...
State-sponsored insurance fund that was intended to guarantee deposits at state-chartered savings institutions. A handful of these funds existed in the early 1980s, but after a string of ...
Right to insurable interest in property such as the right of a secured creditor in the property pledged as security. ...
Funds paid by an insurance company associated with the normal costs of doing business other than the costs of claims payments. ...
Common element in property insurance that excludes electrical damage or destruction of an appliance unless the damage is caused by a resultant fire. ...
Extremely aggressive behavior by an insurance agent to convince a prospect to purchase the insurance product without due regard for the prospect's ability to pay the premiums and/or needs ...
Coverage on more than one person that pays a benefit after all of the insureds die. This type of joint life policy is significantly cheaper than a regular policy. Survivorship life ...
Insurance coverages for businesses, commercial institutions, and professional organizations, as contrasted with personal insurance. ...
Have a question or comment?
We're here to help.