Meaning Of The Word First-loss policy

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First-loss policy Meaning

First-loss policy Definition
First-loss policy Definition

What's The Definition Of First-loss policy?

first-loss policy in British English
noun: 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.
noun: an insurance policy for goods in which a total loss is extremely unlikely and the insurer agrees to provide cover for a sum less than the total value of the property

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