Phase of Insurance contract that provides for lower Insurance rates and premiums on properties protected by a watchman than those not so protected.

A provision often found in a burglary or fire policy providing for a reduced premium if there is a watchman on duty.

A clause that provides a reduced rate for a burglary or fire insurance policy due to a watchman being on duty.

An employee charged with taking care of an insured premises and the property within.

Water or moisture penetration into a package or condensation of water vapor within the package could lead to corrosion of contents. All metals with the exception of gold or platinum are susceptible to corrosion in the presence of oxygen deposits of carbonate, red deposits of oxides or black deposits of sulphide on copper, greying of tin, blackening of silver, darkening of nickel, powder formation on aluminum, all are different types of corrosion.

A clause that provides for coverage of water damage cause by certain causes.

Type of business Insurance coverage protecting against loss due to specified damage caused by water. Contractual protection against damage of loss that results from accidental presence of water where wet is not supposed to be. It is not flood Insurance.

Coverage for an insured who suffers a water damage loss which also damages the property of others on the floor below or in adjoining premises.

Insurance that covers losses to the property of the insured’s neighbors caused by water damage. This kind of coverage usually only applies to the people who live underneath the insured or next door.