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.
BREAKING DOWN '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.