What does Disaster Loss mean? Read on to discover the definition & meaning of the term Disaster Loss - to help you better understand the language used in insurance policies.
Damage, injury, or loss sustained in an officially designated disaster area. Some jurisdictions allow a disaster loss to be claimed against the last year's income, thus providing immediate tax benefits to the disaster victims. See also casualty loss.
We hope the you have a better understanding of the meaning of Disaster Loss.