Definitions for "Package Policy"
Related Terms:
Umbrella policy, Assured, Other insurance, General insurance, Other insurance clause, Monoline policy, Multi-peril policy, Blanket policy, Blanket insurance policy, Homeowners policy, Additional insured, Insurance coverage, Insured, Businessowners policy, Umbrella coverage, Owner, Blanket insurance, Named perils policy, Life insurance policy, Declaration page, Umbrella liability policy, Named peril policy, Cover, Subscription policy, Continuously insured, Insurance policy, Policyholder, Declaration, Claims-made policy, Primary insurance, Conditions, First party insurance, Umbrella , Insuring agreement, Declarations page, Insurer, Declination, Insurance premium, Personal lines, Declarations, Under-insurance, Liberalization clause, Uninsurable, Limited policy, Floating policy, Incontestability clause, Insuring clause, Underinsurance, Insurer
An insurance contract that provides coverage for several perils including property and casualty perils (a.k.a., multi peril insurance). An example of a package policy would be homeowners' insurance, which combines property liability and theft coverage into one policy.
policy that includes more than one line of insurance coverage. (See also, Multi-Line Policy.)
A combination of two or more individual polices or coverages into a single policy. A homeowners policy, for example, is a package combining property, liability and theft coverages for the homeowner.
A policy containing at least two different coverages, typically both property and liability coverages.
As the name suggests, you get a package deal under one policy. For example, with the package Personal Lines policy, you can be covered for a multiplicity of things pertaining to yourself and your personal belongings, such as home buildings and contents, jewellery, liability, personal accident, motor car and others, making it easier for you to insure all in one go.
Any combination of insuring agreements that combines property and casualty coverages. Homeowners, businessowners, and garage policies are examples.
An insurance policy combining several different coverages within a single policy.
A single insurance policy that combines several cov-erage available separately. For example, homeowners insurance is a package policy, combining property, liability and theft coverage.
insurance policy that combines several standard coverages, such as liability, burglary and vehicle, in one package
a bit more complex, covering both personal property damage and any legal responsibility for injuries and property damage which a homeowner or a member of the homeowner's family causes to another person
an insurance contract that protects the insured for both commercial property and liability exposures
A single insurance policy that includes property and liability coverage's, and possibly others.
Policy that includes more than one type of insurance coverage. Also called a multi-line policy.
Several basic property and/or liability policies combined to form a single policy. Contains a common declarations page, common policy conditions, and two or more agreement "coverage parts," such as dwelling coverage, other buildings, personal property, etc.
An insurance policy that includes several kinds of coverages. For example, a homeowners HO-3 policy includes living expenses, personal liability and medical payments.
An insurance policy for businesses in which more than one kind of coverage is provided under a single contract. Also known as a Special Multi-Peril Policy (SMP), the contract typically includes Property Insurance, General Liability Insurance, and other coverages, at a discounted premium reflecting the economies of one underwriting unit at the insurance company issuing multiple coverages.
a single policy covering two or more separate risks for the same insured, with common effective dates and one overall premium.
A contract that includes two or more types of coverage.
A combination of property-liability coverages of two or more separate policies in one contract with one premium. The development of package policies is a move toward economy and efficiency in giving the policyholder one document instead of several.
Multiple lines or types of insurance under one policy.
Multiples lines of types of insurance under one policy.
Two or more types of insurance combined into a single policy. A homeowner's policy package might include coverage for property and liability.
A policy that covers a number of different perils, e.g., a householder's policy.
A single insurance policy that combines several coyerages available separately. For example, homeowners insurance is a package policy, combining property, liability and theft coverages.
a policy into which several different types of insurance have been combined.
Any combination of two or more lines of coverage's into a single policy.
A policy that provides two or more coverages in one contract for one price. For example, many mobile home policies provide coverage for your home, unattached structures, personal property and personal liability.
A policy providing several different coverages combined into one policy. Refers to a policy providing both general liability insurance and property insurance.
A single insurance policy that combines several coverages previously sold separately. Examples include homeowners insurance and commercial multiple peril insurance.
Any insurance policy including two or more lines or types of coverages in the same contract. Personal and commercial package policies are very common today. In fact, most policies sold are package policies.
Any insurance policy which covers two or more lines or types of insurance in the same policy.