Occupancy And Fire Rates
Direct relationship between the use to which a building is put and the likelihood that it will catch on fire. Occupancy is one of the most important factors in setting fire insurance rates. For example, a building that houses an explosives manufacturer is at much greater risk than one occupied by a jewelry boutique. Other factors that influence the risk of fire are geographical location, construction, nature of the neighborhood, and the adequacy of protective devices.
Popular Insurance Terms
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Condition for inland marine liability insurance coverage that states a loss or claim must occur in the policy territory. Policy territory for a liability policy includes the U.S., its ...
Form that covers exposures associated with efforts to operate a business that is damaged by a peril such as fire. For example, a special electrical generator may have to be purchased in the ...
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Provision in insurance policies that states the deductible. ...
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tort against another person's property, designed to detain or dispose of it in a wrongful manner. For example, wrongful selling of another person's automobile without permission would ...
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