Definition: Insurance 7s is a type of insurance policy that provides protection against certain types of financial loss, such as damage to an asset due to natural disasters or accidents. It typically includes coverage for loss of income, property damage, and other losses that are not covered by standard homeowners or automobile insurance policies. The term "insurance 7s" comes from the fact that it is specifically designed to provide protection for specific types of losses, rather than covering all possible risks. This makes it a more specialized type of insurance policy compared to general liability coverage which typically covers all possible risks in an event. The definition of "insurance 7s" can vary depending on the specific insurance company or policy offered by the customer. However, generally speaking, "insurance 7s" refers to a policy that specifically protects against damage caused by natural disasters, accidents, theft, or other types of losses not covered by standard liability insurance policies.
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