What does SMP mean? Read on to discover the definition & meaning of the term SMP - to help you better understand the language used in insurance policies.
Special multi-peril policy or SMP refers to a commercial insurance that covers both loss of property and liability. The extent of the coverage varies depending on the SMP the insured has bought or the specifications made during the purchase from the insurer.
We hope the you have a better understanding of the meaning of SMP.