What does Delayed Completion Coverage mean? Read on to discover the definition & meaning of the term Delayed Completion Coverage - to help you better understand the language used in insurance policies.
Delayed Completion Coverage
Typically written as part of a builders risk or marine cargo policy, delayed completion coverage insures against income loss or specified additional expenses (such as additional interest charges and advertising expenses) that result from a delay in the completion of a construction project beyond the expected completion date as a result of covered property damage. Delayed completion coverage is sometimes referred to as delay in start-up (DSU), delayed opening, soft costs, or advance loss of profits (ALOP) coverage.
We hope the you have a better understanding of the meaning of Delayed Completion Coverage.