Partial loss

{
  "id": "MLC-T-INS-002493",
  "term": "Partial loss",
  "field": "Insurance and risk management",
  "definition": "A loss that does not completely destroy or render worthless the insured property, but rather causes damage that can be repaired or replaced for less than the property's total value. In a partial loss, the insurer pays for the cost of repair or the decrease in value, up to the policy limits. This contrasts with a total loss, where the property is completely destroyed or damaged beyond economic repair.",
  "url": "https://mlchart.com/terminology/insurance/partial-loss/"
}