What types of damages are covered in liability insurance?

In Iowa, liability insurance covers a range of damages that may be incurred due to an individual’s negligence. Generally, liability insurance covers bodily injury and property damage incurred by another person or organization, such as medical bills, lost wages, reimbursement for lost or damaged property, and legal defense costs. The most common coverage provided by liability insurance is known as third-party liability. This type of coverage helps protect an individual from financial losses due to their negligence or that of another person. Examples of third-party liability include medical bills incurred by someone you were negligent towards, damage to another person’s property, or legal fees associated with defending a lawsuit against you. General liability insurance also covers common accidents that can occur on the property of the insured. These include property damage caused by fires, storms, and other natural disasters. Additionally, this type of insurance may also provide financial protection against libel, slander, or copyright infringement. Other types of damages that may be covered by liability insurance include personal injury protection, uninsured/underinsured motorist protection, and product liability coverage. Personal injury protection helps cover medical bills, lost wages, and other related costs when an individual is injured on another’s property. Uninsured/underinsured motorist protection helps pay for medical bills and other damages when the at-fault driver is not insured or does not have adequate coverage. Lastly, product liability coverage helps protect an individual from financial losses due to flaws or damages caused by a product they produced or sold.

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What types of damages are covered in liability insurance?

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