time element insurance
Time element insurance is a property insurance term referring to coverage for loss resulting from the inability to put damaged property to its normal use.
time element insurance
Time element insurance is a property insurance term referring to coverage for loss resulting from the inability to put damaged property to its normal use.
Additional Information
This type of coverage is called "time element" insurance because the amount of loss depends on how long it takes to repair or replace the damaged property. The best-known types of time element insurance are business interruption and extra expense coverage.
