Damage to another person’s property. The purpose of liability insurance is to cover property damage to a third party resulting from the negligent or intentional acts of an insured.
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UK: In an insurance policy it means physical damage to tangible property as opposed to financial loss, even if flowing from the damage, or bodily injury. It does not refer to ‘property’ in the sense of a right of ownership.
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Refers to physical damage to tangible property and to loss of use of tangible property, whether or not physically damaged.