What is SMP in real estate?

What does SMP mean in real estate?

Rather than buying both property insurance for property damage or loss and liability insurance for legal and monetary obligations to third parties, a person or an organization can buy a special multi-peril policy (SMP).

What does the abbreviation SMP mean?

SMP

Acronym Definition
SMP Statutory Maternity Pay
SMP Scalp Micropigmentation (hair loss)
SMP Survival Multi-Player (video game)
SMP Significant Market Power (European telecommunications market)

What is a SMP insurance policy?

Special Multi-Peril (SMP) insurance is a type of commercial insurance that includes coverage under one policy that otherwise would be covered by multiple different insurance policies. … Special Multi-Peril insurance is a type of bundling of coverages that would otherwise be included in separate insurance policies.

What does SMP stand for in engineering?

Structural Mechanical Piping (SMP)

What is a monoline insurance policy?

A monoline policy is a policy that covers one type of insurance; for example, workers compensation or commercial auto are often written as single, or monoline, coverage. A package policy includes two or more lines of insurance coverage.

What is commercial multi peril non liability?

Commercial Multiple Peril:The policy packages two or more insurance coverages protecting an enterprise from various property and liability risk exposures.Frequently includes fire,allied lines,various other coverages(e.g.,difference in conditions)and liability coverage.Such coverages would be included in other annual …

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What does multi peril mean in insurance?

Multiple-peril insurance coverage is a kind of insurance that bundles together multiple coverages that typically would be needed with each other. Typically the package may include coverage for business crime, business automobile, boiler and machinery, marine, or farm.