property damage insurance

American  

noun

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

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Example Sentences

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.

From BusinessWeek • Sep. 8, 2011

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

From Motor Truck Logging Methods Engineering Experiment Station Series, Bulletin No. 12 by Knapp, Frederick Malcolm