Water Damage Insurance
Definition of "Water damage insurance"
Protection in the event of accidental discharge, leakage, or overflow of water from plumbing systems, heating, air conditioning, and refrigerating systems, and rain or snow through broken doors, open doors, windows, and skylights resulting in damage or destruction of the property scheduled in the policy. This type of water damage coverage can also be acquired through an endorsement of a standard property insurance policy.
Popular Insurance Terms
System whereby benefits in an employee benefit insurance plan vary according to the employee's earnings. ...
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Arrangement by which an employee can retire and receive full benefits without reduction, or reduced benefits subject to a penalty. These ages can be classified in the following manner: ...
largest amount of reinsurance available from a company or from the general market; large amounts of reinsurance on one risk; or maximum premium volume that can be written by a reinsurer. ...
Alleged torts or breaches of contract, but not crimes. Action is brought by one individual against another at the litigant's own expense, within the statute of limitations. The losing party ...
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Time period in health insurance that must elapse between a previous illness and a current one, if the current one is to be considered a separate illness eligible for a new set of benefits. ...
Factors influencing the amount of life insurance to purchase, such as marketable skills of spouse, age of children, savings, investments, number of future working years' expectancy, amount ...
Process of discovering sources of loss concerning the property risk faced by individuals and business firms. The first step is to analyze possible perils that can damage or destroy both ...
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