Under Loss of Use due to Theft, reimbursement ends upon which event?

Under Loss of Use due to Theft, reimbursement ends upon which event?

• 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: (C)

Loss of Use coverage ends at the earliest event that returns you to normal use or finalizes the claim. Specifically, reimbursement stops when either repairs or replacement are completed, or when the insurer makes or tenders settlement—whichever comes first. The idea is that you’re only covered for the period you’re unable to use the property due to the theft, so once you’ve completed the repairs (or replacement) or the claim is settled, there’s no further loss of use to reimburse. The policy’s expiry date isn’t the trigger here; it’s the first of those two events.

Loss of Use coverage ends at the earliest event that returns you to normal use or finalizes the claim. Specifically, reimbursement stops when either repairs or replacement are completed, or when the insurer makes or tenders settlement—whichever comes first. The idea is that you’re only covered for the period you’re unable to use the property due to the theft, so once you’ve completed the repairs (or replacement) or the claim is settled, there’s no further loss of use to reimburse. The policy’s expiry date isn’t the trigger here; it’s the first of those two events.