Which of the following best describes a direct loss?

A direct loss refers to the immediate and tangible result that occurs as a direct consequence of a covered peril. This means that if a specific event, such as a fire or theft, causes damage to property, the loss incurred from that damage is considered a direct loss. This type of loss is straightforward, as it directly correlates with an event that the insurance policy covers.

In contrast, the other options describe different types of financial impacts or situations. For instance, a loss that affects future income deals with potential earnings that might be impacted due to damage or destruction, which is not a direct result of a peril but rather an indirect consequence. An unexpected increase in property value refers to a positive change rather than a loss, and a gradual depreciation of assets pertains to a decline in value over time, typically due to wear-and-tear rather than an event covered by insurance. Thus, the option describing a direct loss provides the clearest and most accurate definition based on the context of insurance coverage.