Provides financial protection against loss or damage to the insured's property caused by such perils as fire, windstorm, hail, explosion, aircraft, motor vehicles, vandalism, malicious mischief, riot and civil commotion and smoke
Insurance that provides a benefit payable if a specified property belonging to the insured is damaged, destroyed, or lost as the result of the occurrence of a specified risk, such as fire, theft, accident, or other cause described in the policy
Insurance that indemnifies a person with an interest in physical property for its loss or the loss of its income producing abilities This definition encompasses all lines of insurance written by Property and Inland Marine insurers and can also include certain kinds of insurance written by Casualty insurers, e g , Burglary and Plate Glass coverages
Line of Insurance that includes many types of coverages designed to handle the risk that a person will suffer financial loss because something he or she owns is damaged or destroyed
This coverage is applicable to your real property and personal property on your premises The coverage form is termed "all risk", i e a "named exclusion contract This form of coverage is customer friendly because it will provide coverage unless an event or circumstance is specifically excluded Other coverages that are within this format include "loss of income" and "extra expense" Loss of income provides income dollars lost due to an insured event while extra expense provides cash to fund the additional dollars required to remain in business after the insured event
Covers the risk of damage or loss to property Property includes building, equipment and stock or contents It also includes related and contingent losses such as business interruption
- Property Insurance indemnifies an insured whose property is stolen, damaged, or destroyed by a covered peril The term property insurance includes direct or indirect property losses covered in several lines of insurance
Property Insurance that indemnifies a person with an interest in physical property for its loss or the loss of its income producing abilities This definition encompasses all lines of insurance written by Property and Inland Marine Insurers and can also include certain kinds of insurance written by Casualty insurers, e g , Burglary and Plate Glass coverages
A type of insurance that provides a benefit if insured items are damaged or lost because of fire, theft, accident, or other cause described in the policy
Insurance written to cover the loss, by damage or theft, to specified objects of value owned, possessed, or held by the insured Sometimes called physical damage in case of automobile insurance
Provides financial protection against physical loss or damage caused by fire, windstorm, vandalism or other covered incidents to many kinds of business property that you own Covered business property can include your building, equipment, tools, supplies, furniture, fixtures and improvements