Burglary/Theft Insurance
Definition of "Burglary/Theft Insurance"
Same as term Burglary Insurance: coverage against loss as the result of a burglary. Found as part of the commercial package policy that has generally replaced the special multiperil insurance (SMP) policy and the MERCANTILE OPEN STOCK BURGLARY INSURANCE policy. Covers loss of merchandise, furniture, equipment, fixtures due to force and violence to the exterior of a business's premises in order to gain entry, and damage to the premises of the business as the result of the burglary. There is a coinsurance requirement that ranges from 40 to 80%.
Popular Insurance Terms
Coverage through an endorsement to the personal automobile policy (pap) to extend its protection against accidents within a 25 mile radius of the U.S. border. This coverage is excess over ...
Amount paid by the attorney of the plaintiff in a liability suit. Usually the attorney receives as a fee from 30 to 50% of the case settlement or reward. ...
Reinstatement of an insurance policy or bond to its original face amount (face of policy) after the payment by the insurer of a loss. The purpose of this type of coverage is to indemnify ...
Curve that results when yields on short-term treasury issues exceed those on long-term government debt. A widely accepted theory holds that when short-term and intermediate term issues are ...
Premiums paid with funds that are not borrowed from life insurance. It is important to ascertain the finance charges and the costs/benefits of such a transaction. ...
Combination life insurance policy composed Of TERM LIFE INSURANCE and an INSTALLMENT REFUND ANNUITY. ...
Risk-creating device as compared with insurance, which is a risk-reducing or -eliminating device. This is a form of speculative risk. ...
Coverage for loss in the gross earnings of the business (minus expenses that cease while the business is inoperative) as the result of the interruption of normal business activities caused ...
Bonds that are sold at discount from their maturity value with the interest compounding and paid at the bond's maturity date. Even though these bonds do not pay interest until maturity, the ...
Have a question or comment?
We're here to help.