What is AUTOMATIC COVER?

Insurance that extends a policy for a period of time for a certain amount. It helps to cover the changes in market value or a new asset.

More On This Topic
  1. Important 2018 Law Changes You Should Know
  2. Marijuana: Recreational, Grow, & Medical Laws By State 2020
  3. Is It A Monopoly? Everything You Ever Wanted To Know
  4. It’s Election Time in the US: 5 Options for Americans Planning Immigration to Canada
  5. What Are the Different Types of Insurance?
  6. What is FED MED/EE Tax?
  7. Can You Borrow Against a Term Life Insurance Policy?
  8. What Does Fed OASDI/EE Mean on a Paycheck?
  9. Four Important Factors to Consider Before Renouncing Dual Citizenship
  10. Does Homeowner’s Insurance Cover the Cost of Car Damages That Occur in an Attached Garage?

Related Legal Terms
AUTOMATIC PREMIUM LOAN CLAUSE, RETROSPECTIVE AGGREGATE LOSS COVER, AUTOMATIC TRANSFER OF FUNDS, AUTOMATIC FISCAL STABILIZERS, AUTOMATIC INCREASE IN BENEFIT PROVISION, DIVIDED COVER, AUTOMATIC COVERAGE, AUTOMATIC REINSTATEMENT CLAUSE, DEFECTIVE DESIGN COVER, FULL THEFT COVER


Link to This Definition
Did you find this definition of AUTOMATIC COVER helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary