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
Person who transfers rights under an insurance or mortgage contract. ...
services provided in an employee benefit plan such as a pension plan. An employer provides the clerical staff to operate the plan, in effect acting as custodian. The trustee provides ...
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Study of an organization's operations, and real and personal property to discover existing and potential hazard and the actions needed to render these hazards harmless. ...
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Forced entry into premises. Coverage is provided under various property insurance contracts such as homeowners and special multiperil insurance (SMP). ...
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