Definition of Bridge insurance:
Many government entities take out bridge insurance policies, as do the contracting companies that build the bridges. Bridge building is a high-risk endeavor with many lives and massive amounts of property at stake during construction and after the bridge is finished.
Insurance that covers a structural bridge in the event of damage or destruction.
Bridge insurance covers damage and destruction to a bridge in the event of fire, flood, explosion, etc. It does not typically cover damage due to war, built-in defects, or natural wear and tear.
How to use Bridge insurance in a sentence?
- Some of the largest construction projects ever have been bridge building projects.
- For large projects, a group of insurers and reinsurers most often band together to spread the risk around.
- Many government entities take out bridge insurance policies, as do contractors who build the bridges.
- With structures as expensive and complex as bridges, it's not simply a case of buying a policy and starting work—bridge insurers work closely with construction and maintenance firms on various issues.
- Bridge insurance covers damage to a bridge due to fire, flood, and explosions.
Meaning of Bridge insurance & Bridge insurance Definition