What is the Definition of Farmowners-Ranchowners Insurance?

What is the Definition of Farmowners-Ranchowners Insurance?

Package policy that protects the policyholder against named perils and liabilities and usually covers homes and their contents, along with barns, stables and other structures.

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 Annuity?

What is the Definition of Farmowners-Ranchowners Insurance?

What is the Definition of Farmowners-Ranchowners Insurance?

You can find random definition and meaning of insurance terms below:


Meaning of Residual Market in Insurance Terms

Facilities, such as assigned risk plans and FAIR Plans, that exist to provide coverage for those who cannot get it in the regular market. Insurers doing business in a given state generally must participate in these pools. For this reason the residual market is also known as the shared market.


Meaning of Retrospective Rating in Insurance Terms

A method of permitting the final premium for a risk to be adjusted, subject to an agreed upon maximum and minimum limit based on actual loss experience. It is available to large commercial insurance buyers.


Meaning of Revocable Beneficiary in Insurance Terms

A life insurance policy beneficiary whose right to the policy’s proceeds can be cancelled or reduced by the policy owner at any time before the insured’s death. Contrast with Irrevocable beneficiary.


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