What does Rental Reimbursement Coverage Endorsement mean? Read on to discover the definition & meaning of the term Rental Reimbursement Coverage Endorsement - to help you better understand the language used in insurance policies.
Rental Reimbursement Coverage Endorsement
An optional commercial auto coverage endorsement (CA 99 23) that adds coverage for an additional amount incurred for the cost of renting an auto in the event of covered damage to the covered auto. Coverage under this endorsement is in addition to any other physical damage coverage available and is not subject to any deductible.
More Insurance Terms And Definitions
The Merriam-Webster Dictionary defines insurance as:
b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.
c: The sum for which something is insured.
We hope the you have a better understanding of the meaning of Rental Reimbursement Coverage Endorsement. If you are looking for the meanings of other important insurance terms and their definitions, just click on the letter below to find the words & concepts you are looking for: