Definition of "Use and occupancy insurance"
Robert Carlton, Real Estate Agent
Coldwell Banker Sea Coast Advantage
Streamline Realty Team
Streamline Realty Team
Type of business interruption insurance that provides indirect loss coverage by endorsement to boiler and machinery insurance. The latter, sometimes called power plant insurance, provides for both direct and indirect loss coverage. Direct loss would indemnify an insured for damage to property. Use and occupancy insurance covers an insured for loss of use of the equipment due to damage from a named peril.
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