Physical Damage Insurance | Real Estate Glossary

Definition of "Physical damage insurance"

Beth Christo

RE/MAX Realty Unlimited

Insurance coverage for any risk that can cause physical damage to the insured item.

Same as term Annual Statement: report that an insurance company must file annually with the State In ...

Conditions and terms agreed to in a contract. ...

Analytical procedure to predict the failure rate of a system still in the design stage. ...

A knowledgeable person authorized to aid in the underwriting of property and casualty insurance. ...

An on-site examination of a structure to ensure all building codes are met, and that it is in satisf ...

Compensation for loss. In a property and casualty contract, the objective is to restore an insured t ...

The insurance company will replace it with a model as close to it as possible in the current retail ...

A proprietary lease is lease used for co-ops that give the shareowners the right to live in a partic ...

A gift letter is when an individual gives you money for a down payment as a gift, that person must w ...

A negative amortization is a type of loan situation that occurs when the monthly payments do not cov ...

Mortgage companies use ratios to analyze your mortgage payment. The housing payment ratio (or front ...

A seller disclosure is a form required by most states; the seller uses this form to disclose any kno ...

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