Keyword Analysis & Research: losses sustained

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What does it mean actual loss sustained?

Actual loss sustained is a form of business interruption insurance where no sum insured is specified but you are covered for the total amount of the loss you have as a result of the claim. This is a Gross Earnings-type form that does not have a specific sum stated.

What is an actual loss?

Definition of actual loss. A real loss of money, not one that is calculated or estimated, nor a paper loss where there is no actual cash loss, for example when an asset falls in value but is not sold.

What is actual loss in insurance?

Actual loss is a term that your insurance representative or claims adjuster may use when they refer to how much money has been paid out by the insurance company on behalf of the damage caused to your property by insured perils in a claim, it does not necessarily represent the amount the insured him or herself received directly.

What is an actual total loss?

Actual total loss is a loss that occurs when the insured property is totally destroyed or damaged in such a way that it can be neither recovered nor repaired for further use, or the insured is irretrievably deprived of it.

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