This cover is available in the event of damage to the vehicle by an insured peril wherein time taken to repair the damage or recovery will exceed 3 days. The policy will pay costs incurred for hired transport up to 10 days for normal damages and 15 days for TL/CTL losses during the policy period. The period starts from the following calendar day of the vehicle reaching the insurers authorized repairers and ends on the date of repairers intimation to take delivery. Time taken for repair to items not related to accident will not be allowed. The allowance ranges from Rs. 600 to Rs. 2,000 per day depending on the category of vehicles. Repairs to be undertaken at insurers authorized repairers. Claim solely for damage to windscreen or glass is not admissible for this cover.
Insurance Encyclopedia
Daily benefit
Maximum daily amount paid by a health insurance hospital or major medical plan for inpatient room and board charges.
Daily Hospital Cash Benefits for Health Insurance
Product is available in the form of a fixed daily allowance which could be used to cover the unexpected and incidental costs associated with hospitalization (such as travel and stay costs of an attendant). It provides the insured with a daily cash benefit ranging from Rs. 500 to Rs. 2000 for each 24 hours spent in the hospital, which can be availed as per the specific needs of the insured. Available on standalone basis and also as an optional component of some packaged health insurance policies.
Daily hospital service charge
Inpatient hospital fee every day that includes room and care, nursing, meals, linen, other services, and administrative costs.
Daily log
See: daily accounts receivable journal and day sheet .
Daily report
A condensed statement containing relevant policy information sent to the insurer, the agent, and select others. This is usually the top page of the policy.
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An abbreviated statement of pertinent policy information with copies for the insurer, the agent, and others. It is usually the top page of a policy.
Daily sickness benefit
Fixed cash benefit payable under certain health policies for each day of care (institutional or otherwise) during the insured’s temporary illness.
Damaged Value
The actual value on arrival at destination of a vessel or goods which have been damaged. For hulls it is taken as the value without any repairs being taken into account. For cargo the gross damaged value is the value of the damaged cargo after landing charges and duty have been paid. Net value is that before payment of landing charges and duty.
Damages
UK: 1. Tort. Compensation for loss. General damages are unliquidated, i.e. not pre-determined. The court assesses them under headings such as loss of amenity, pain and suffering and loss of future earnings. Special damages can be assessed with some accuracy, e.g. medical expenses, loss of earnings, damage to property. 2. Contracts. Damages compensate for losses flowing from the breach of contract but they may be liquidated, i.e. stated in the contract. 3. The measure of damage relates, as far as money can, to actual losses, but nominal damages apply when a successful claimant has suffered no pecuniary loss. Punitive damages aim to punish the defendant but they are of restricted application in the UK. See STRUCTURED SETTLEMENTS; PROVISIONAL DAMAGES.
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UK: financial compensation for loss suffered.
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Monetary compensation or indemnity, which may be recovered in the courts, by any entity who has suffered loss through the unlawful act or omission or negligence of another. A party claiming injury by a negligent act must establish that actual damages of a type recognized by law and measured as money damage did occur.
Damages (Legal Terminology)
The total monetary amount needed to compensate for a loss.