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Direct Physical Loss
Damage or loss of property directly resulting from an identifiable event or cause, without intervening factors.
Property Damage
Physical damage to, or destruction of, tangible property, often resulting in financial loss.
Antilapse Clause
In an insurance policy, a clause which states that the insured has a grace period in which to make an overdue payment.
Appraisal
An expert estimation of the value of property, typically real estate, art, or jewelry, often for the purpose of taxation, sale, or insurance.
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