Sentences with first-loss policy
- With large warehouses and stores where the value of stocks is considerable and of bulky nature rendering a full loss very unlikely, a first-loss policy may be given.A first-loss policy is used when it is inconceivable that all property would be lost in a single claim.A first-loss policy is an insurance policy for goods in which a total loss is unlikely and the insurer provides cover for a sum less than the total value of the goods.