Residential Construction Insurance
Definition of "Residential construction insurance"
Coverage in the event an insured's negligent acts and/or omissions involving the construction of a new one- or two-family residential structure result in bodily injury and/or property damage to a third party. The "insured" includes his or her employees and independent contractors. This coverage is normally part of the homeowners' insurance policy and extends coverage on an automatic basis for this exposure at no extra premium.
Popular Insurance Terms
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Single policy on the insured's property for: two or more different kinds of property in the same location; same kind of property in two or more locations; two or more different kinds of ...
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Procedure in which a home office interviewer (who may or may not have underwriting experience) interviews applicants on the telephone. The questions asked the applicant are automated and ...
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