Damages - Law Dictionary Search Results
casualty
accident [conversion of property…arising from fire, storm, shipwreck, or other "Internal Revenue Code"] 2 : something lost, stolen, damaged, or destroyed see also casualty gain at gain casualty loss at loss
abandonment
an intention never to resume use d : the act of an insured in surrendering all rights to damaged or lost property to an insurer as a total loss compare salvage e : relinquishment by a trustee
actual cash value
actual cash value 1 : the cost of replacing or repairing damaged property less any applicable depreciation 2 : fair market value
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allied line
allied line : insurance (as for earthquake or water damage) provided by policies separate from a fire policy
appraisal
for the purpose of taxation, sale, or securing a mortgage c : the estimation of the value of damage done to property for the purpose of adjusting an insurance claim
bailee
under a bailment NOTE: Carriers and warehouses are two examples of bailees. A bailee's liability for loss or damage to property is determined by the terms of the bailment or the law of the jurisdiction.
bodily injury
bodily injury : any damage to a person's physical condition including pain or illness called also bodily harm compare emotional distress, serious bodily
bodily injury liability
those injured individuals and pays your legal defense costs as well. Such coverage can be combined with property damage liability, as it often is, and be called "liability insurance."
but-for
: of or relating to the necessary cause (as a negligent act) without which a particular result (as damage) would not have occurred [a but-for test of causation] compare substantial factor
casualty protection
casualty protection property insurance that covers any damage to the home and personal property either inside or outside the home. Source: U.S. Department of Housing and
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