Simple English definitions for legal terms
Read a random definition: PER CUR
A loss-of-use exclusion is a provision in some insurance policies that excludes coverage for certain events or conditions. For example, a failure-to-perform exclusion may exclude coverage for the loss of use of undamaged property resulting from the insured's delay or failure in performing an obligation.
Other examples of exclusions include:
These exclusions limit the scope of coverage provided by the insurance policy. For example, if a business has a failure-to-perform exclusion in their policy and fails to deliver a product on time, resulting in the loss of use of undamaged property, they may not be covered for the resulting damages.