On a building project, a type of insurance policy stipulating that in the event of loss, the insured is liable for a specified initial amount and the insurance company is liable for the amount above that figure, up to the insured amount.
On a building project, a type of insurance policy stipulating that in the event of loss, the insured is liable for a specified initial amount and the insurance company is liable for the amount above that figure, up to the insured amount.