What is the Definition of Commercial Automobile Insurance?
Provides coverage for vehicles that are used primarily in connection with commercial establishments or business activities. While the major coverages are the same, commercial auto policies differs from a personal auto policy in a number of technical respects. (See Auto Insurance Policy).
Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/
Label: Insurance
Theme: Dictionary of Insurance Terms
Other Questions: What is the definition of Insurance?
What is the Definition of Commercial Automobile Insurance?
Check out other definition of insurance terms below:
What is the Meaning of DECREASING TERM LIFE INSURANCE In Insurance Terms?
Term life insurance that provides a death benefit that decreases in amount over the policy term. Contrast with Increasing term life insurance.
What is the Meaning of DEDUCTIBLE In Insurance Terms?
The amount of loss paid by the policyholder. Either a specified dollar amount, a percentage of the claim amount, or a specified amount of time that must elapse before benefits are paid. The bigger the deductible, the lower the premium charged for the same coverage.
What is the Meaning of DEFERRED ANNUITY In Insurance Terms?
An annuity contract, also referred to as an investment annuity, that is purchased either with a single tax-deferred premium or with periodic tax-deferred premiums over time. Payments begin at a predetermined point in time, such as retirement. Money contributed to such an annuity is intended primarily to grow tax-deferred for future use.
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