Business, Legal & Accounting Glossary
In a property insurance contract, this clause allows the insured to be reimbursed for expenses associated with the cleanup of debris created by an insured loss.
Debris removal is the removal of various kinds of debris from a property. The expense of debris removal is frequently covered by property insurance plans in the context of insurance. However, this cost is normally only reimbursed if the debris is caused by a covered risk.
Debris can build up on a property for a variety of reasons. A house, for example, could burn down, resulting in the accumulation of charred wood waste, or a tree could fall on a property, or a hurricane could knock portions of a house off, and so on. Insurance companies understand that removing debris can be costly, not to mention the cost of repairing the property. As a result, debris cleanup is frequently covered by property insurance policies for covered dangers.
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This glossary post was last updated: 7th January, 2022 | 0 Views.