What Does Vendors Dual Interest Coverage Mean?

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What does Vendors Dual Interest Coverage mean? Read on to discover the definition & meaning of the term Vendors Dual Interest Coverage - to help you better understand the language used in insurance policies.

Vendors Dual Interest Coverage

Vendors Dual Interest Coverage

Insurance purchased by financial institutions that covers physical damage to property (collateral) on which loans have been made. The premium is usually assessed against the borrower. Vendors dual interest coverage contrasts with vendors single interest coverage, in that it protects the interests of both the lender and the borrower in the covered property.

We hope the you have a better understanding of the meaning of Vendors Dual Interest Coverage.

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