Direct damage coverage is property insurance that pays the value of property, or the cost to repair...
direct damage
Direct damage is physical damage to property, as distinguished from time element loss, such as business interruption or extra expense, that results from the inability to use the damaged property.
Related Terms
Commercial property (CP) coverage forms are Insurance Services Office, Inc. (ISO), CP insurance...
A commercial property policy is an insurance policy for businesses and other organizations that...
Difference-in-conditions (DIC) insurance is a policy that provides additional limits of coverage...
First-party insurance is insurance that applies to the insured's own property or person.
Property insurance is first-party insurance that indemnifies the owner or user of property for its...
Time element loss results from an inability to use a property.
