Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

owned-property exclusion

Read a random definition: real wages

A quick definition of owned-property exclusion:

Owned-property exclusion is a term used in insurance policies that means only third parties who are injured on or by the insured's property can make liability claims against the insurer. This provision usually excludes coverage for property owned, rented, occupied, sold, given away, or abandoned by the insured, personal property in the care, custody, or control of the insured, and property located where the insured and its employees work. In simpler terms, if you own something and it gets damaged or causes damage, your insurance policy may not cover it.

A more thorough explanation:

Definition: Owned-property exclusion is a provision in a comprehensive general liability insurance policy that allows only third parties who are injured on or by the insured's property to make liability claims against the insurer. This provision usually excludes coverage for property owned, rented, occupied, sold, given away, or abandoned by the insured, personal property in the care, custody, or control of the insured, and property located where the insured and its employees work.

Example: Let's say that John owns a small business and has a comprehensive general liability insurance policy. One day, a customer slips and falls on a wet floor in John's store and gets injured. The customer can make a liability claim against John's insurance policy because the injury happened on John's property. However, if John's own property, such as his car or his personal belongings, gets damaged, he cannot make a liability claim against his own insurance policy because of the owned-property exclusion.

Explanation: The owned-property exclusion limits the liability coverage of an insurance policy to third-party claims only. This means that the insured cannot make a liability claim against their own policy for damages to their own property. The purpose of this exclusion is to prevent the insured from intentionally causing damage to their own property and then making a claim against their own policy to receive compensation.

owling | owners' association

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
LSD+ is ad-free, with DMs, discounts, case briefs & more.