Territorial Limits
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 territories, and Canada; international water or air space (except for when the injured person is traveling to another country); and injuries sustained anywhere in the world if a product is produced in the U.S. and the suit is brought in the U.S.
Popular Insurance Terms
Provision found in current assumption whole life insurance policies under which the insurance company retains the contractual right to recalculate the premium (after a minimum period of ...
Since a mobile home can literally be both mobile and a house, it obviously requires its own kind of insurance. A mobile home insurance policy is sort of a hybrid between auto insurance and ...
Coverage for property damage or destruction of an insured's property and liability exposure of an insured for damage or destruction of someone else's property under his or her care, ...
Request for life insurance coverage by an individual, not through an agent or broker. It is given extra scrutiny by an insurance company because of the possibility of self-selection, which ...
Optional provision in a disability income policy that allows the policyowner to increase the monthly income sum at an approximate rate of 6%. ...
Use of a home, and the land and buildings surrounding that home, free from the claim of creditors. This right gives rise to an insurable interest. ...
Death benefit option in which a beneficiary of a life insurance policy receives the death benefit as a single sum payment instead of installments. ...
Set of standard safety guidelines adopted by many states to help provide uniformity in building construction and guard against fire hazards and other unsafe conditions in buildings. ...
All insured losses paid in full. ...
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