What does Residence and Outside Theft Insurance mean? Read on to discover the definition & meaning of the term Residence and Outside Theft Insurance - to help you better understand the language used in insurance policies.
Residence and Outside Theft Insurance
Residence and outside theft insurance covers the financial loss incurred when property is damaged or lost due to a peril like theft or vandalism that happened outside or beyond the premises of the property that the policyholder considers their dwelling.
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 Residence and Outside Theft Insurance. 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: