What does Seasonal Risk mean? Read on to discover the definition & meaning of the term Seasonal Risk - to help you better understand the language used in insurance policies.
A seasonal risk is a risk of loss that only applies during certain times of the year. It generally only affects businesses that only operate during certain times of the year, such as haunted houses, or ones that have peak times of production or income, such as toy manufacturers.
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 Seasonal Risk. 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: