What does Direct Damage Coverage mean? Read on to discover the definition & meaning of the term Direct Damage Coverage - to help you better understand the language used in insurance policies.
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.
We hope the you have a better understanding of the meaning of Direct Damage Coverage.