Water Damage Legal Liability Insurance
Definition of "Water damage legal liability insurance"
Coverage for an insured's liability for damage to another's property from leakage or overflow of water. Some liability policies specifically exclude water damage, including that caused by rain or snow. Therefore, a special policy was necessary to cover this exposure. However, most liability policies today have dropped this exclusion, and coverage for water damage liability is part of the regular liability policy.
Popular Insurance Terms
Same as term Mortality Table: chart showing rate of death at each age in terms of number of deaths per thousand. ...
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Surcharge, in retrospective rating of property and liability insurance, added to the basic premium rate charged to reflect fixed cost of adjusting or settling losses. ...
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Party covered by an insurance policy. In life insurance policies there is one designated insured, the person so named; or a policy can be issued to numerous insureds on a group basis. The ...
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