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Property Loss Claims

Learn about the types of property-loss claims and how property-damage claims are valued.


Property insurance is an umbrella term for first-party insurance that protects against a loss to the policyholder’s interest in specific property. In other lessons, we went over a property-insurance policy’s typical parts. In this lesson, we’ll look at property-insurance claims.

I. What’s Considered a Loss

Property insurance covers only losses to the insured property itself, not claims arising from that property. For instance, imagine a customer got caught in a store’s automatic door. The door...