casualty gain
- A financial benefit received by the insured party when the payout from an insurance policy for a property loss due to an accident or theft exceeds the adjusted value of the insured property
- After the flood, the homeowner realized a casualty gain as the insurance payout was greater than the adjusted value of the house.
- The owner of the jewelry store experienced a casualty gain when the insurance company's compensation for a burglary exceeded the adjusted value of the stolen goods.
- When the insurance payout for the damaged car was more than the car's adjusted value, the owner ended up with a casualty gain.
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