Time Element (time Policy) Coverage


Definition of "Time element (time policy) coverage"

Ruth  Littleton real estate agent
Ruth Littleton, Real Estate Agent Littleton Realty Group

Insurance that covers an indirect loss stemming from a direct loss by a covered peril to income-producing property. A building destroyed by fire represents a direct loss. Lost income resulting from the shutdown of a manufacturing facility housed in the burned building represents an indirect time element loss and would be covered by business interruption insurance, a form of time element insurance.

 

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