google bot detected Perpetual Insurance | Insurance Glossary | Realestateagent.com

Perpetual Insurance


Definition of "Perpetual insurance"

Coverage on real property written to have no time limit. A single deposit premium pays for insurance for the life of the risk. The insurer earns enough investment income on the deposit to cover losses and costs. Upon cancellation, the insured is entitled to return of the initial deposit premium. Perpetual insurance, first issued in the U.S. in Philadelphia in 1752, is still used for fire and home owner's insurance.



Related Real Estate Glossary terms

Related Real Estate FAQ