Vandalism And Malicious Mischief Insurance
Coverage usually written as an endorsement to property policies such as the Standard Fire Policy. A loss must be by the intentional acts of vandals. This peril is of particular importance to owners of structures that are not occupied during particular periods during the day, such as schools and churches. Vandals have little risk of being caught during these periods, when they are most likely to strike. Because of high frequency, a high deductible is usually required when insuring churches and schools.
Popular Insurance Terms
Coverage for business risks including goods in transit, fire, burglary, and theft. A common example is the COMMERCIAL PACKAGE POLICY (CPP). ...
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Phrase used to describe a method of annuity payout that guarantees a specified number of years, regardless of whether an annuitant remains alive. ...
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Extent of the loss caused by accidents. Used in predicting the dollar amount of losses upon which the premiums are based. ...
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Bond that provides additional security for a loan. ...
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