Allied Lines
Property insurance closely associated with fire insurance and usually purchased in conjunction with a Standard Fire Policy. Allied lines include data processing insurance, demolition INSURANCE, EARTHQUAKE INSURANCE, INCREASED COST OF CONSTRUCTION CLAUSE, RADIOACTIVE CONTAMINATION INSURANCE, SPRINKLER LEAKAGE INSURANCE, STANDING TIMBER INSURANCE, VANDALISM AND MALICIOUS MISCHIEF INSURANCE, WATER DAMAGE INSURANCE.
Popular Insurance Terms
Same as term Convertible Term Life Insurance: coverage that can be converted into permanent insurance regardless of an insured's physical condition and without a medical examination. The ...
Compensation payable to the owner of a ship detained for reasons beyond his or her control who incurs a loss of earnings because of the delay. Detainment can be caused by a delay in the ...
Amount expressed as a liability on the insurance company's balance sheet for benefits owed to policy owners. These reserves must be maintained according to strict actuarial formulas as they ...
Rule that prohibits the introduction into a court of law of any oral or written agreement that contradicts the final written agreement. For example, an insurance contract containing clauses ...
Means of selling and servicing property and casualty insurance through agents who represent different companies. The agents own the records of the policies they sell. ...
Agreement by an insurance company to pay a predetermined amount, as indicated in an insurance policy, should a loss occur. ...
Coverage for legal liability resulting from damage or destruction of the bailor's property while under the bailee's temporary care, custody, and control. Includes property on or in transit ...
Provisions added to an original insurance policy that alter or modify benefits and coverages of the contract. For example, a homeowners insurance policy can be endorsed to cover a ...
Break in commercial activities due to the occurrence of a peril. Coverage against business interruption by various named perils can be obtained through insurance. ...
Comments for Allied Lines
Is allied lines insurance sold mostly to businesses or individuals?
Nov 01, 2018 10:39:32Hey, Jerry
It can be sold to both, but commercial real estate buys it more due to the value of the personal property within the real estate. For instance: documents and products in the inventory can get to million dollars worth of damage, while furniture would typically be in the thousands.
Thanks for reaching out!
Nov 02, 2018 14:50:15Have a question or comment?
We're here to help.