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
Insurance in force previous to the present insurance policy. ...
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Type of excess of loss reinsurance in which the insurance company (cedent) cedes its risk of loss on incurred but not reported losses (IBNR) and previously reported losses. ...
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