BizTerm Definition
Property Insurance
Full Definition

(1) Insurance providing financial protection against the loss of, or damage to, real and personal property caused by such perils as fire, theft, windstorm, hail, explosion, riot, aircraft, motor vehicles, vandalism, malicious mischief, riot and civil commotion, and smoke. (2) Provides financial protection against loss or damage to the insured's property caused by such perils as fire, windstorm, hail, etc.


Previous Biz Term Next Biz Term