third-party insurance

[ thurd-pahr-tee ]
/ ˈθɜrdˈpɑr ti /

noun

insurance that compensates for a loss to a party other than the insured for which the insured is liable.

Origin of third-party insurance

First recorded in 1900–05

Related forms

third-party insurer, noun
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019