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
number of serious injuries per 1,000,000 employee-hours worked. ...
Written statement by an insurance company attesting to the powers it has vested in an agent. ...
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Protection against the death of an individual in the form of payment to a beneficiary usually a family member, business, or institution. In exchange for a series of premium payments or a ...
Policy similar to that of an individual universal life insurance policy except that the coverage is provided (up to a limit) without the requirement of the submission of evidence of ...
Applications for insurance coverage that have been forwarded to an insurer but not yet processed. ...
Coverage for liability exposures that result from manufacturing and/or contracting operations in process on a manufacturer's premises (all locations of ongoing operations) or, in the case ...
Amount for which financial loss for bodily injury incurred by the plaintiff must exceed before a tort liability action may be brought. ...
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