The policy's insuring agreement provided coverage for «all risks of direct physical loss of or damage to the property insured» subject to exclusions in the policy. (theallgrouponlinejournal.com)
In scenario 2, you simply saw a digital representation of your money decrease by $ 500, but you felt no actual physical loss of that money. (learntotradethemarket.com)
In some cases, the property owner may require you to insure the property against physical loss or damage. (thebalance.com)