Question

Under Loss of Use due to Theft, reimbursement ends upon _____.

A. Upon the date of the completion of repairs or replacement
B. Upon the date the insurer makes or tenders settlement
C. Upon either (a) or (b) above, whichever comes first
D. Upon the expiry date of the policy.

Answer 1

Under Loss of Use due to Theft, reimbursement ends upon either the date of the completion of repairs or replacement; or the date the insurer makes or tenders settlement, whichever comes first. This coverage is part of an insurance policy that pays out under certain circumstances such as damage, theft, or death.

Step-by-step explanation:

Under Loss of Use due to Theft, reimbursement ends upon either (a) the completion of repairs or replacement or (b) the date the insurer makes or tenders settlement, whichever comes first. This means that if your property, such as a car or dwelling, is damaged, stolen, or causes damage to others, the insurance policy will cover the loss of use while the property cannot be used. The coverage is designed to assist in situations until your property is repaired, replaced, or until the insurance company settles the claim. Policies may also include loss of use coverage for medical expenses when they are incurred or if the policyholder dies.