Broad Form Insurance
Definition
- A type of insurance that covers something, normally a rare event, that is not covered by an existing policy but may or may not be of a higher risk for the insured individual. Premiums can be high for broad form insurance and deductibles are common due to the increased possibility of risk.
Synonyms
coverage for numerous perils, above-the-norm, above average coverage
Related Terms and Acronyms
- Blanket Insurance — Definition,
- A form of insurance that covers multiple different classes of property with one policy. Homeowner's insurance, for instance, not only covers damages to the insured home, but also the contents of the home.
- Comprehensive Insurance — Definition,
- Auto insurance that covers damages not resulting from a collision, and for vehicle theft.
- Floater Insurance — Definition,
- Insurance that covers assets not commonly covered by an existing policy such as electronics or jewelry.
- High Risk Auto Insurance — Definition,
- Auto insurance for drivers with an increased risk of collisions.
- Insurance (insur) — Abbreviation,
- An arrangement where one party provides financial protection to another party for specific damages or losses.
- Travel Insurance — Definition, Very Important,
- Insurance that covers a number of events that can occur when an individual is travelling out of the province or country.
- Umbrella Insurance — Definition,
- Insurance used to cover different types of property in a single policy.
