Home > Glossary > Wear And Tear Exclusion
Meaning / Definition of
Wear And Tear Exclusion
Categories: Finance,
A provision of an insurance contract that states that the normal, expected deterioration of the insured object will not be covered by the policy. wear and tear is excluded from insurance policy coverage because it is inevitable. Insurance is designed to protect only against unforeseen losses. If insurance covered predictable losses, insurers would have to raise premiums dramatically to cover these expenses.
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