What is the Definition of Burglary And Theft Insurance?
Insurance for the loss of property due to burglary, robbery or larceny. It is provided in a standard homeowners policy and in a business multiple peril 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 Burglary And Theft Insurance?
Check out other definition of insurance terms below:
What is the Meaning of GUARANTEED LIVING BENEFIT In Insurance Terms?
A guarantee in a variable annuity that a certain level of annuity payment will be maintained. Serves as a protection against investment risks. Several types exists.
What is the Meaning of GUARANTEED RENEWABLE POLICY In Insurance Terms?
An individual health insurance policy that requires the insurer to renew the policy—as long as premium payments are made—at least until the insured attains a specified age. The insurer can change premium rates for broad classes of insureds but not for an individual insured. Contrast with Noncancellable and Guaranteed renewable policy.
What is the Meaning of GUARANTEED REPLACEMENT COST COVERAGE In Insurance Terms?
Homeowners policy that pays the full cost of replacing or repairing a damaged or destroyed home, even if it is above the policy limit. (See Extended replacement cost coverage)
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