Hazard insurance is a form of insurance that protects property owners against damages inflicted by certain risks, such as fires, storms, and other natural disasters.
In manufacturing, an indirect cost refers to expenses that cannot be directly attributed to specific products. Examples include electricity, hazard insurance on the factory building, and real estate taxes.
Insurance coverage refers to the total amount and type of insurance a policyholder possesses. It encompasses various forms covering different risks, safeguarding individuals and businesses against potential losses.
Operating expenses refer to the amount paid to maintain a property or run a business, including costs such as property taxes, utilities, and hazard insurance. It excludes financing expenses, depreciation, and income taxes.
