A formal writing style is not necessarily âbetterâ than an informal style, rather each style serves a different purpose and care should be taken in choosing which style to use in each case.
insured contract. A term used to specify the limit of contractual liability coverage. This term can refer to lease agreements, easement agreements, and any other agreement that relates to the insured's business.
2. coverage by contract in which one party agrees to indemnify or reimburse another for loss that occurs under the terms of the contract. 3. the contract itself, set forth in a written agreement or policy. 4. the amount for which anything is insured. 5. a premium paid for insurance. 6. any means of guaranteeing against loss or harm: to take vitamin C as insurance against colds.