What types of damages are covered in liability insurance?

Liability insurance is a type of insurance purchased by individuals and businesses to provide protection against possible financial losses caused by their actions. In New Jersey, liability insurance can cover a range of damages, including both financial and non-financial. Financial damages covered by liability insurance can include medical expenses, lost wages, and costs associated with repairing or replacing property. Non-financial damages, such as those related to pain and suffering, are also covered by liability insurance. Other types of damages that may be covered include punitive damages, which are awarded to punish a defendant for their behavior, and legal fees associated with defending a lawsuit. As a result, liability insurance can be a valuable tool in helping individuals and businesses protect themselves from the potential financial burden of a lawsuit.

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What types of damages are covered in liability insurance?

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