Consequential Loss


Definition of "Consequential loss"

Floyd Turner real estate agent
Floyd Turner, Real Estate Agent Keller Williams Real Estate

Value of loss resulting from loss of use of property. For example, a fire damages the structure of business premises and the business loses customer income until it can reopen. The loss in income the consequential loss can be covered under business interruption insurance. Basic property insurance policies, such as the fire policy, do not cover the consequential or indirect loss.

 

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