direct damage coverage
Property insurance that pays the value of property that has been damaged
by a covered cause of loss or the cost of its repair or replacement. This is
in contrast to time element property insurance, which pays for loss of income
or increase in expenses that result from the unavailability of the damaged property
while it is being repaired or replaced.
See also: commercial
property coverage forms,
commercial property policy,
difference-in-conditions
insurance, direct damage,
first-party insurance,
property insurance,
time element insurance.