What does Loss of Use mean? Read on to discover the definition & meaning of the term Loss of Use - to help you better understand the language used in insurance policies.
Loss of Use
Loss of Use coverage pays for extra expenses an insured incurs from either an accident or damage to his/her vehicle. If a loss occurs over 50 miles from home, such coverage pays for extra expenses to return the repaired car to its home or destination. In the case of total theft, this coverage pays an extra amount per day in excess of the amount provided on a standard policy.
We hope the you have a better understanding of the meaning of Loss of Use.