property damage


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property damage

n. injury to real or personal property through another's negligence, willful destruction, or by some act of nature. In lawsuits for damages caused by negligence or a willful act, property damage is distinguished from personal injury. Property damage may include harm to an automobile, a fence, a tree, a home, or any other possession. The amount of recovery for property damage may be established by evidence of replacement value, cost of repairs, loss of use until repaired or replaced, or, in the case of heirlooms or very personal items (e.g. wedding pictures) by subjective testimony as to sentimental value. (See: property, damages)

References in periodicals archive ?
Related: Here's why fighting crime causes uninsured property damage
In this property damage loss transfer arbitration, Geico contended that the amounts sought by Nationwide exceeded Geico's policy limits.
Main Street and Interstate 495, motor vehicle accident with property damage.
If you have economic loss or property damage because of the Deepwater Horizon oil spill, you could get money from a class action settlement with BP Exploration & Production Inc.
Even if the hurricane is only a Category 1 storm, it could cause area residents total property damage of over $2.
Alienated premises exclusion--An exclusion applying to property damage to premises that the named insured sells, gives away, or abandons.
The firm reported an income of USD12m related to claims under its property damage and business interruption insurance policies, including USD6m from the company's business interruption policy and USD5.
Property damage resulting from the state's construction project was compensable only to the extent it was foreseeable by the state, according to the Supreme Court of Ohio.
Thus, crashes lead to property damage, injury and possibly death, but near-crashes do not, even though they have similar properties.
These exclusions come into play when an insured performs work on a customers property and that work is then judged to be faulty, causing the customer to make a claim for property damage against the insured.
Crime-related property damage has negatively impacted the maintenance and repair budgets of many property management companies.
CBI coverage may be available as an additional source of recovery for businesses directly impacted by a hurricane, or it may be available as a primary source of recovery for businesses fortunate enough to avoid direct impact but suffer financial loss anyway due to property damage incurred by others.

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