In marine insurance, the deliberate casting away or destruction of property to prevent greater loss. General Average sacrifice is for the common good and saved interests make good the sacrifice in proportion to the saving enjoyed-Safe (a) A metal container that protects items of value. (b) Secure from danger.
Safe Burglary Insurance
Generally, insures loss of property from safe or vault, coincidental damage to premises and property and felonious removal of a safe from the premises.
Safe Deposit Box
A metal container in a bank in which a customer keeps valuable items. Generally, two keys are necessary to open the box, one is kept by the bank and he other by the customer.
Safe Driver Rating Plan
Merit rating plan for drivers of private passenger vehicles which assesses points for various traffic violators and accidents, the number of which are then used to assess amount of premium to be paid.
Safety Deposit Box Insurance
Insures against loss of specified property contained within a safety deposit box.
Salary
A fixed compensation paid regularly, usually on an annual or monthly basis, contrasted with wages that are normally paid on an hourly basis.
Salesmen’s Sample Floater
Insures samples of merchandise in the charge or control of the insured’s travelling representative.