The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

FIRST LOSS POLICY Definition & Legal Meaning

Definition & Citations:

Insurance that is partial where average rules do not apply. It covers estimated loss. It is not subject to the subject of average rule. It is used to cover loss due to theft when total loss is low.


This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.