Mercantile Safe Burglary Insurance

Definition of "Mercantile safe burglary insurance"

Coverage in the event a safe of a business is forceably entered, either on or off the premises, and property is stolen from the safe. Also covered is damage to the premises during actual or attempted burglary. Premium rates can be reduced through precautions such as burglar alarms, guards, and other protective measures. There is no coinsurance or deductible requirement This policy has generally been replaced by current commercial crime coverage forms.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Liability insurance coverage, primarily for shipyards for ocean marine risks, provided in much the same manner as umbrella liability insurance for nonmarine risks. Coverages may be provided ...

Type of excess of loss reinsurance in which the insurance company (cedent) is reinsured in the event there is a casualty loss resulting in at least two insureds generating losses from the ...

Condition in which an applicant has met an insurance company's standards. Requirements include a loss that is definable; fortuitous; one of a large number of homogeneous exposures; and ...

Premium payment made by the policy owner under a universal life insurance policy, usually on an automatic monthly preauthorized bank draft basis. The amount of the payment is established ...

Assets that are not readily convertible into cash 'without a significant loss of principle, such as an automobile, a house, television set, a radio, etc. ...

Written form which has precisely the same terms as the other property insurance policies covering a particular property. ...

Limited special purposes policy that provides liability and physical damage insurance for owners and operators of trucks while engaged in business. This insurance is often purchased by a ...

High severity loss that does not lend itself to accurate prediction and thus should be transferred by the individual or business to an insurance company. ...

Coverage in health insurance by two or more policies for the same insured loss. In such a circumstance, each policy pays its proportionate share of the loss, or one policy becomes primary ...

Popular Insurance Questions