flood insurance

flood insurance definition - business

flood insurance

Coverage for property damage from flooding caused by an excess of water on land that is normally dry. Homeowner, renter, and business owner insurance policies do not cover losses from flood damage, and a separate flood insurance policy is needed to obtain this coverage.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.