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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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38% - Moderately

Vandalism and Malicious Mischief Coverage


Synonyms:gangster insurance
Filed Under: insurance
Tags: insurance
 

Definition of vandalism and malicious mischief coverage

vandalism and malicious mischief coverage
1. A type of insurance coverage included in some property insurance policies that provides protection from losses due to the acts of vandals. Vandalism and malicious mischief insurance is important for property that is not occupied for long periods of time, such as vacation homes, churches, or schools. Also known as "vandalism and malicious damage coverage" or as a "vandalism endorsement."


Related Terms and Acronyms:

  • business crime insurance   Insurance that covers losses due to criminal acts perpetrated by customers or employees.
  • business insurance   An umbrella term for insurance that covers various losses that may arise due to the operation of a business.
  • commercial blanket bond   Insurance that covers losses to businesses due to different forms employee fraud, such as embezzlement and forgery.
  • homeowners insurance   A policy that includes hazard coverage, covering loss or damage to property and/or assets located within, as well as coverage for personal liability and theft.
  • property insurance   Insurance that provides coverage for damages to property from a number of perils.
  • valuable papers insurance   Insurance that covers damages to valuable papers such as property deeds or wills.

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