Property Loss Claims
Learn about the types of property-loss claims and how property-damage claims are valued.
Transcript
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...
