What does Drop Down Coverage mean? Read on to discover the definition & meaning of the term Drop Down Coverage - to help you better understand the language used in insurance policies.
Drop Down Coverage
Drop down coverage is an insurance policy that takes the place of another and covers the same risk. It comes into effect when the latter policy has been exhausted and cannot provide enough funds to cover a loss or damage.
We hope the you have a better understanding of the meaning of Drop Down Coverage.