Loss Of Use
A provision in homeowners and renters insurance policies that reimburses policyholders for any extra living expenses due to having to live elsewhere while their home is being restored following a disaster.
"Loss Of Use" In Context
"Now US car-rental franchises appear to be scaring customers into buying duplicate damage-waiver insurance by threatening to charge for loss of use or "off road" days. The Insurance4carhire policy you purchased does include cover for off-road days." This Insurance Word is available for Sponsorship Sponsor this Definition Today.