Definition of "Contents"
- in PERSONAL PROPERTY insurance, coverage is for personal property items that are movable, that is, not attached to the building's structure (the home), such as television sets, radios, clothes, householdgoods. Not included under the coverage are animals, automobiles, and boats.
- in COMMERCIAL PROPERTY insurance, coverage is for the business's personal property items that are movable, that is, not attached to the building's structure such as inventory, machinery, equipment, furniture, and fixtures. Not included under the coverage are animals, automobiles, boats, and crops.
Popular Insurance Terms
Futures contracts (legally binding contract that stipulates that delivery of an asset will be taken or delivery of an asset will be made at a future time at an agreed upon price at the ...
Procedure in which investment income is paired with each life insurance policy according to the time frame in which the premiums for that particular policy are received. ...
provision in a CASH VALUE INSURANCE policy that an insured will receive the equity in some form even if the insurance is canceled. vested benefit to a retirement plan participant. It is ...
Insurance policy underwritten and issued by a syndicate listing each risk insured by each syndicate member. ...
Coverage in a separate policy or as an endorsement to the commercial general liability (CGL) form, for insureds responsible for aircraft they do not own. If an aircraft is leased from ...
Limited special purposes policy that provides liability and physical damage insurance for owners and operators of trucks while engaged in business. This insurance is often purchased by a ...
Most generally, twisting in insurance is regarded as an unfair trade policy or practice. Twisting means a life insurance policy holder’s misrepresentation on behalf of an insurance ...
Exchange, in insurance, of an adequate consideration (premium paid by an insured) for the promise of an insurance company to pay benefits in the event the insured incurs a loss. ...
part of the Model Uniform Life and Health Insurance Policy Provisions Law giving an insurer a time limit on contesting coverage for preexisting conditions or misrepresentation. This law, ...
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