Covered Damages refers to the losses, costs or expenses that are covered by an insurance policy. It is an important term in insurance terminology and may refer to the losses or costs that are covered by a particular insurance policy or contract. These losses, costs or expenses may include property damage, bodily injury, and medical expenses.
Covered Damages in More Detail
The definition of Covered Damages will depend on the type of insurance policy or contract in question. Generally speaking, some common types of Covered Damages include property loss or damage resulting from a covered peril, such as a fire, windstorm, or theft; medical expenses resulting from injury or illness; and costs related to legal defense in the event of a lawsuit.
Covered Damages typically exclude losses that are caused by the insured’s intentional acts, as well as losses that are caused by events that are not covered by the policy. In addition, some policies may have exclusions or limitations that limit the amount of coverage available for certain types of losses or expenses.
In order to determine whether or not a particular loss is covered, it is important to carefully review the terms and conditions of the policy. In some cases, policyholders may need to contact their insurance company if they have questions about what is and what is not covered.
