Essential property insurance means insurance against direct loss to property as defined and limited in standard fire policies and extended coverage indorsements thereon, as approved by the Director of the Depart- ment of Consumer and Business Services, and insurance against the perils of vandalism and malicious mischief. “Essential property insurance” does not include automobile in- surance or insurance on such types of man- ufacturing risks as may be excluded by the director.
Essential property insurance means insurance against direct loss to property as defined and limited in the wind and hail insurance policy and forms approved by the director or his designee; and after January 1, 1995, at the request of the insured, coverage for:
Essential property insurance meansEssential property insurance. – insurance Insurance against direct loss to property as defined in the standard statutory fire policy and extended coverage, vandalism and malicious mischief endorsements thereon, or their successor forms of coverage, as approved by the Commissioner;Commissioner.
Examples of Essential property insurance in a sentence
The enabling Statute 17:37A 1-22 provides that: Essential property insurance is necessary to attract and retain private capital, supply needed goods and services, expand job opportunities, enable homeowners to obtain financing for purchase and improvement of their property, and promote orderly community development.
More Definitions of Essential property insurance
Essential property insurance means any of the following coverages
Essential property insurance means the coverage against di- rect loss to real and tangible personal property at a fixed location that is provided in the standard fire policy and extended coverage en- dorsement, and shall include also the perils of vandalism and mali- cious mischief and such additional lines of property insurance as may be designated by the commissioner. Essential property insurance spe- cifically includes insurance against direct loss to property which is being constructed or rehabilitated (builder's risk coverage). It does not include automobile insurance or insurance on farm or manufacturing risks.
Essential property insurance means insurance against direct loss to insurable property from the risk of windstorm and hail in the manner as defined and limited in the standard real property and contents insurance forms approved by the Commissioner. Essential property insurance may include coverage for either the actual cash value or replacement cost value of the structure and contents. Essential property insurance includes builders risk coverage. The extent of risk covered, the insuring language and the exclusions are all subject to approval by the Commissioner. Policies, rules and rates shall be filed with the Commissioner in the manner provided for insurance companies. The association shall consider adoption of a program whereby damaged roofs are replaced using applicable IBHS or similar standards. (§ 83-34-1(a))
Essential property insurance means insurance against direct loss to property as defined and limited in the wind and hail insurance
Essential property insurance meansEssential property insurance. –
Essential property insurance means insurance against direct loss to property