DEFINITION of 'Broad Form Property Damage Endorsement'

An addition to a general liability policy. A broad form property damage endorsement eliminates the exclusion of property under the care of the insured. A higher premium is most often paid for this additional insurance.

BREAKING DOWN 'Broad Form Property Damage Endorsement'

General liability insurance is insurance where a person is liable to be sued for damage caused by negligence. It is commonly applied to people who provide services, homeowners and drivers to name a few.

RELATED TERMS
  1. Care, Custody, Or Control (CCC)

    An exclusion found in liability insurance policies that removes ...
  2. Property Insurance

    A policy that provides financial reimbursement to the owner or ...
  3. Blanket Additional Insured Endorsement

    An insurance policy endorsement that automatically provides coverage ...
  4. Casualty Insurance

    A broad category of coverage against loss of property, damage ...
  5. Hazard Insurance

    Insurance that protects a property owner against damage caused ...
  6. Vandalism Endorsement

    An optional type of coverage that can be added to a basic hazard ...
Related Articles
  1. Insurance

    Do You Need Casualty Insurance?

    Find out how different types of coverages can protect you and which policy is right for you.
  2. Insurance

    The Importance Of Property Insurance

    Property insurance is important, but there's a lot you need to learn in order to get the proper coverage.
  3. Insurance

    Cover Your Company With Liability Insurance

    Every business is susceptible to legal action. Find out how to protect yours.
  4. Personal Finance

    Understanding Endorsements

    In financial terminology, endorsement has a couple of different meanings.
  5. Insurance

    Insurance Coverage: A Business Necessity

    Don't go to work without this policy in place - especially if your work is in your home.
  6. Insurance

    What Is And Isn't Covered By Homeowners Insurance

    Understanding what your insurance covers can be confusing. Learn what almost all insurance policies have in common.
  7. Insurance

    An Advisor's Guide to Prof. Liability Insurance

    A guide to what financial advisors need to know about professional liability insurance.
  8. Insurance

    Explaining Insurance

    Insurance is a form of contract between an individual and an insurance company that spreads risk in exchange for premium payments.
  9. Insurance

    Insurance Tips For Homeowners

    Use these simple ideas to save money and get better coverage for your house.
  10. Insurance

    Do You Need Umbrella Insurance For Household Help?

    Homeowners insurance may not be enough – say, if your nanny sues for damages after an accident. That's where umbrella coverage comes in.
RELATED FAQS
  1. What is the average return on total revenue for the insurance sector?

    Learn about the three main segments of the insurance industry, and find out what the average return on revenues is for the ... Read Answer >>
  2. Does renters insurance cover water damage?

    Learn how renters insurance provides personal property coverage for items damaged by water only if the water is the result ... Read Answer >>
  3. What are some examples of industries that practice price discrimination?

    Understand the various types of insurance coverage offered in the insurance marketplace, and learn why each policy should ... Read Answer >>
  4. What's the difference between renter's insurance and homeowner's insurance?

    Renters insurance and homeowners insurance offer similar benefits for occupants and homeowners, but in different ways and ... Read Answer >>
  5. When does it make sense to buy personal liability insurance?

    Protecting yourself from lawsuits is important to the financial well-being of you and your family. Is personal liability ... Read Answer >>
  6. Can your insurance company cancel your policy without notice?

    Learn about your rights as an insured when it comes to your insurance policy being canceled, including how to access your ... Read Answer >>
Hot Definitions
  1. Magna Cum Laude

    An academic level of distinction used by educational institutions to signify an academic degree which was received "with ...
  2. Cover Letter

    A written document submitted with a job application explaining the applicant's credentials and interest in the open position. ...
  3. 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt organizations and certain ministers. Generally, retirement ...
  4. Master Of Business Administration - MBA

    A graduate degree achieved at a university or college that provides theoretical and practical training to help graduates ...
  5. Liquidity Event

    An event that allows initial investors in a company to cash out some or all of their ownership shares and is considered an ...
  6. Job Market

    A market in which employers search for employees and employees search for jobs. The job market is not a physical place as ...
Trading Center