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
Section of the insurance policy that lists all of the provisions that are applicable to the insurance coverage provided under that section. This section is attached to the policy jacket ...
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Section of an insurance company that evaluates claims for their subsequent payment. ...
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Demand without foundation, such as a claim submitted to an insurance company by an insured who caused a loss, or for a loss that never occurred. ...
Coverage that provides for replacement of damaged or destroyed property on a new replacement cost basis without any deduction for depreciation. This is equivalent to replacement cost ...
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