Partial Loss

10 months ago

Insurance Glossary Team

1 minute

Plain English Definition: A partial loss occurs when an insured asset sustains damage but is not completely destroyed.

What Partial Loss really means for someone with an insurance policy

A partial loss means that the insurance company will compensate for the damage done to the asset, but only up to the extent of the loss incurred, not for a total replacement.

Partial Loss Real World Examples

Your car is damaged in a minor accident and needs repair.
A fire damages part of your home but leaves the rest intact.
Your smartphone screen cracks, but the phone still works.