Here is a breakdown of how each of the terms affects property insurance coverage:

1. First Loss Policy: This type of policy is used when the full value of the property insured is not
covered. The insured value is less than the actual value, meaning only a partial amount of the
property is covered for claims. This policy is ideal for items that may not be fully lost in one
event, but it limits the claim payout to the specified first loss amount.

2. Floating Policy: A floating policy covers property that is located in multiple locations or is moved
between different places. It's common for businesses with stock or equipment spread across
various locations or warehouses. The insurance will cover the property irrespective of its
location, as long as it is within the terms specified in the policy.

3. Blanket Insurance: This covers multiple properties or locations under a single sum insured. It
simplifies coverage for businesses with many items, such as goods or buildings, because it
provides a total coverage limit, which can be allocated across different locations or assets as
needed.

4. Capital Additions: These refer to any improvements, extensions, or increases in the value of
property during the policy period. Capital additions may require an adjustment in the insurance
coverage to ensure that the property is adequately insured. Often, policies will automatically
cover capital additions up to a certain limit, but if this limit is exceeded, the coverage must be
updated.

5. Day One Basis: Under this policy, the insurance coverage is based on the value of the property at
the time the policy is first taken out (Day One) rather than at the time of the loss. It ensures that,
in the event of a claim, the payout will reflect the value of the property as of the inception date
of the insurance.

6. Index Linking: This is a mechanism where the insured sum is automatically adjusted in line with
changes in certain indices (e.g., construction costs, inflation). This ensures that the value of the
policy keeps up with inflation or market changes, preventing underinsurance due to the
changing value of property.

7. Reinstatement: This provision ensures that the property is restored to its original condition after
a loss, rather than just paying the market value of the damaged property. It covers the cost of
repairing or replacing the damaged property with new or equivalent items, regardless of
depreciation.

8. Debris Removal Costs: In the event of damage to insured property, this clause ensures that the
cost of removing debris from the site is also covered by the insurance policy. This is crucial as
debris removal can be an additional cost following a loss.

9. All Other Contents: This term refers to coverage for contents within the property that aren't
specifically named or described in the policy. It covers things like furniture, equipment, or stock,
which are included in the general coverage but may not have a separate specified sum.

10. Contract Price Basis of Settlement of Stock Claims: When settling claims for stock, the insurance
payout is calculated based on the contract price, i.e., the price the insured entity agreed to pay
 for the goods, rather than the market price. This ensures that the policyholder receives the
agreed-upon value in the event of a loss.

11. Change of Occupancy: If the insured property changes in its use or occupation (e.g., from a
residential property to a commercial property), the insurance coverage might be affected. The
insurer may require notice of the change, and adjustments to the coverage may be necessary to
ensure continued adequate protection.

12. Customers’ Goods: This term refers to coverage for goods that belong to customers or third
parties that are stored on the insured premises. It ensures that if the goods are damaged or lost
while under the care of the insured, they are covered under the property insurance.

13. Construction, Heating, and Occupation of the Buildings: Property insurance may include terms
related to how buildings are constructed (materials used), whether they are heated (e.g., central
heating), and how they are occupied (residential, commercial, etc.). Changes in these aspects
can affect risk levels and premiums, and insurers may impose conditions based on these factors.

14. Appreciation in Value (Escalator): This provision adjusts the insured value of the property to
account for its increased market value over time. As the property appreciates, the coverage can
increase to reflect this higher value, ensuring that the property is not underinsured in case of a
loss.

15. Stock Declaration: This refers to a type of policy where the insured periodically declares the
value of their stock to the insurer. The insurance coverage adjusts based on the declared value,
ensuring that any fluctuation in stock value is adequately covered.

16. Temporary Removal: This covers property that is temporarily removed from the insured
premises, such as items being sent for repair, storage, or transit. The insurance will continue to
cover the property while it is away, under the terms and conditions of the policy.

Each of these terms plays a significant role in determining the scope of coverage under a property
insurance policy, ensuring that the policyholder's assets are protected according to their needs and the
risks involved.