property insurance

property insurance
Insurance in which the risk is that of the loss of property, as from fire, flood, windstorm, etc A contract of insurance whereby the insurer becomes bound, for a consideration in the form of a premium or premiums, to indemnify the insured for actual loss, in whole or in part, not exceeding title to real property, to wander in a labyrinth policy as insured. 29 Am J Rev ed Ins § 4.

Ballentine's law dictionary. . 1998.

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