Mercantile Openstock Burglary Insurance


Definition of "Mercantile open-stock burglary insurance"

Coverage for damage or destruction of property due to a crime, and property lost due to a burglary, whether successful or attempted. An endorsement provides coverage for robbery and theft of merchandise. Coverage is provided for merchandise, equipment, fixtures, furniture left in the open on the business premises. There is a coinsurance basis of 40 to 80%. This policy has generally been replaced by current commercial crime coverage forms.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Statutory Earnings

Revenue based on conservative reserve requirements of various states. Statutory earnings do not meet ...

Pro Rata Distribution Clause

Provision in many property insurance policies that automatically distributes coverage over insured p ...

Special Assessment

Charge levied against property owners to finance an improvement made by the local government which b ...

Chattel Mortgage

Pledge of personal property, e.g., furniture, as collateral for a note. If the debt is not paid, the ...

Conflagration

Fire that spreads substantial destruction. ...

Board And Batten

Kind of siding for wood frame houses where the joints in the usually vertical siding are covered by ...

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 The APR For This ARM Loan?

This APR Calculator can be used to estimate the Annual Percentage Rate for a loan based on input par ...

Who Is A Subagent?

A subagent is an agent who works with you to purchase a house but is paid by the seller. ...

How Can I Figure Out My Debt-to-income Ratio?

To figure out where you stand on the debt-to-income ratio, you must first understand the meaning of ...

What Is Accession?

The right of a property owner to have and enjoy all of the advantages of property ownership includin ...

What Should I Do If I'm In An Accident?

1.- Stay Calm. Determine the injuries and or damage. 2.- Call the police. File an accident report ...

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

How to become a real estate agent Getting Ready to Sell? Don't make these DIY Mistakes! When to buy a house 5 U.S. Cities with the Best Public Transportation How is Square Footage Determined?

FAQ

What are prepayment penalties? How do I file an Insurance Claim? How Much Can I Afford ? What is a balloon mortgage? What do I need to know about Term Life Insurance?