Time-Element Coverage

Time-Element Coverage

Time-element coverage is a type of insurance coverage included in some property insurance policies. It pays for the ongoing financial consequences of insured property damage. It covers losses that accumulate during the period needed to repair, rebuild, or replace the damaged property. Examples include business interruption, extra expense, and rental value coverage. Unlike property damage coverage, it covers loss of income and additional expenses resulting from property damage, rather than the property damage itself. See also: Actual Loss Sustained.