Which of the following describes a Partial Loss?

A Partial Loss refers specifically to a loss that only partially destroys or damages the property. This definition is crucial in insurance terms because it affects how claims are processed and how much compensation the insured can receive. In the context of property insurance, when a claim is classified as a Partial Loss, the insurer is required to assess the extent of the damage, which allows for repairs or replacements rather than a total loss settlement.

To give context to the other options: a complete destruction of property would fall under a total loss scenario, not a partial loss. A loss that exceeds insurance limits relates to coverage amounts and is not indicative of the extent of damage but rather the financial aspect of coverage availability. Lastly, a situation where no loss occurs clearly does not relate to the concept of partial loss at all, since it implies that there is no damage or destruction to assess. Each of these distinctions is important in understanding how insurance policies work and the definitions of loss types.