property damage insurance

noun

1. insurance against losses arising from damage to the property of others, as in a motor-vehicle accident.

Example Sentences

CareLinx already provides professional liability, auto accident and property damage insurance for most of its roughly 160,000 caregivers.

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According to the cease-and-desist notice issued May 11, Leap failed to provide evidence that it has public liability and property damage insurance and workers’ compensation insurance.

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The company expects $225 million to $275 million on charges relating to the flooding of the company’s facilities in Thailand; it also expects to file a property damage insurance claim of at least $50 million and an additional claim for business interruption.

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The insurance usually carried by loggers covers fire and theft, although some companies also carry liability and either collision or property damage insurance.

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Factor in property damage, insurance payouts, productivity slowdowns, and shaken consumer confidence, and the estimates of what the attacks cost the U.S. economy range somewhere between $100 billion and $500 billion.

Read more on BusinessWeek