What Does Credit Personal Property Insurance Mean?

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What does Credit Personal Property Insurance mean? Read on to discover the definition & meaning of the term Credit Personal Property Insurance - to help you better understand the language used in insurance policies.

Credit Personal Property Insurance

Credit Personal Property Insurance

insurance written in connection with a credit transaction where the collateral is not a motor vehicle, mobile home or real estate and that covers perils to the goods purchased through a credit transaction or used as collateral for a credit transaction and that concerns a creditor's interest in the purchased goods or pledged collateral, either in whole or in part; or covers perils to goods purchased in connection with an open-end transaction.

We hope the you have a better understanding of the meaning of Credit Personal Property Insurance.

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