Broad Form Insurance


DEFINITION of 'Broad Form Insurance'

Insurance coverage that extends beyond the basics to include rare events that may be of serious risk to the insured. This type of insurance usually requires that a higher premium, and often a deductible, be paid. Broad form insurance can be applied to nearly all forms of insurance including investments, assets, etc.

BREAKING DOWN 'Broad Form Insurance'

An example of this type of insurance can be found in automobile insurance. A customer may require glass insurance as the driver is frequently on the highway and obtains a lot of chips in the front window. Glass insurance is not offered under the basic plan and therefore must be specifically requested and a premium must be paid.

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  3. Deductible

    1. The amount you have to pay out-of-pocket for expenses before ...
  4. Premium

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  5. Extraordinary Item

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  6. Insurance

    A contract (policy) in which an individual or entity receives ...
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    First things first, it's only partially correct to think that a portion of your bank deposits is protected. The Federal Deposit ... Read Full Answer >>
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    No. Whenever you invest in a stock, bond or mutual fund, there is no insurance against the possible loss of your initial ... Read Full Answer >>
  3. Does dental insurance cover crowns?

    Dental insurance coverage may vary according to the type of plan and the level of benefits that you have elected. Most dental ... Read Full Answer >>
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    he When you make a down payment from 3 to 20% of the value of your home and take out a Federal Housing Administration (FHA) ... Read Full Answer >>
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    An all-perils renters insurance policy does cover water damage, less the deductible, to personal property if the damage is ... Read Full Answer >>
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