Bridge Insurance

AAA

DEFINITION of 'Bridge Insurance'

Insurance coverage for bridges. This type of insurance covers damage and destruction to the bridge in the event of fire, flood, explosion, etc. It does not however, cover damage due to war, built-in defects, or natural wear and tear.

INVESTOPEDIA EXPLAINS 'Bridge Insurance'

Government bodies located close to the bridge itself are who actually take out the insurance policy. It is a preventative measure to ensure that if something happens to the bridge, it will not be necessary to use a very significant amount of taxpayers money all at once on repairs.

RELATED TERMS
  1. Self-insure

    A method of managing risk by setting aside a pool of money to ...
  2. Adequacy Of Coverage

    The adequacy of coverage concerns how well your insurance policies ...
  3. Umbrella Insurance Policy

    Extra liability insurance coverage that goes beyond the limits ...
  4. Taxes

    An involuntary fee levied on corporations or individuals that ...
  5. Premium

    1. The total cost of an option. 2. The difference between the ...
  6. Portfolio Insurance

    1. A method of hedging a portfolio of stocks against the market ...
Related Articles
  1. 15 Insurance Policies You Don't Need
    Insurance

    15 Insurance Policies You Don't Need

  2. Exploring Advanced Insurance Contract ...
    Home & Auto

    Exploring Advanced Insurance Contract ...

  3. Will Filing An Insurance Claim Raise ...
    Insurance

    Will Filing An Insurance Claim Raise ...

  4. Understanding Your Insurance Contract
    Insurance

    Understanding Your Insurance Contract

comments powered by Disqus
Hot Definitions
  1. Odious Debt

    Money borrowed by one country from another country and then misappropriated by national rulers. A nation's debt becomes odious ...
  2. Takeover

    A corporate action where an acquiring company makes a bid for an acquiree. If the target company is publicly traded, the ...
  3. Harvest Strategy

    A strategy in which investment in a particular line of business is reduced or eliminated because the revenue brought in by ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
  6. Pareto Principle

    A principle, named after economist Vilfredo Pareto, that specifies an unequal relationship between inputs and outputs. The ...
Trading Center