What are some examples of physical damage?
Physical injuries include those caused by mechanical trauma, heat and cold, electrical discharges, changes in pressure, and radiation. Mechanical trauma is an injury to any portion of the body from a blow, crush, cut, or penetrating wound.
What are the two types of physical damage?
Comprehensive and collision are separate coverage types, but they are often sold together. Investopedia says that combined physical damage insurance combines comprehensive and collision coverage into one policy.
What is physical damage loss?
Physical Loss or Damage to shall mean any form of sudden and unforeseen loss or damage not specifically excluded.
What is the difference between physical damage and property damage?
Property damage means damage to property belonging to a third party and is covered under commercial auto liability coverage. Physical damage generally means damage to a vehicle owned by the policyholder. Physical damage is insured under comprehensive and collision coverages.
What is physical damage to property?
Physical Damage means any tangible injury to a Property, whether caused by accident, natural occurrence, or any other reason, including damage caused by defects in construction, land subsidence, earth movement or slippage, fire, flood, earthquake, riot, vandalism or any Environmental Condition.
What is physical damage coverage?
Physical Damage means any tangible injury to a Property or any Environmental Condition, whether caused by accident, natural occurrence, or any other reason. Coverage is subject to all terms and conditions of the policy including Physical Damage Coverage, except as specifically changed by this endorsement.
What constitutes'physical loss or damage'?
The change does not necessarily have to be permanent or irreparable to constitute 'damage', but mere temporary loss of use is probably insufficient. If the insured property merely loses value, that is not sufficient on its own to constitute 'physical loss or damage'. The physical loss or damage must be fortuitous to be recoverable.