What does Loss of Use Insurance mean? Read on to discover the definition & meaning of the term Loss of Use Insurance - to help you better understand the language used in insurance policies.
Loss of Use Insurance
Loss of use insurance is a type of policy that covers expenses incurred when the insured cannot temporarily use their property due to damages that render it uninhabitable or an order to evacuate from lawful authorities, such as police or disaster relief teams. Not all property insurance policies include this coverage, but policyholders might be able to add it for an extra premium.
We hope the you have a better understanding of the meaning of Loss of Use Insurance.