google bot detected Total Loss Only Tlo Insurance | Insurance Glossary |

Total Loss Only Tlo Insurance

Definition of "Total loss only (tlo) insurance"

Ocean marine policy that pays an insured only if a ship or cargo is a total loss. Because total loss is rare, these policies are much less expensive than regular hull insurance. Therefore, it is used by shipowners who cannot afford more complete coverage or who cannot get it for some other reason.

Related Real Estate Glossary terms

Related Real Estate FAQ