Glossary

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Liability Insurance: insurance for what the policyholder is legally obligated to pay because of bodily injury or property damage caused to another person

Limits: maximum amount of insurance that can be paid for a covered loss

Liquor Liability Insurance: provides a business coverage for bodily injury or property damage if they are held legally liable because of:

• causing or contributing to the intoxication of any person
• furnishing alcoholic beverages to a person under the legal drinking age or under the influence of alcohol
• violating any statute, ordinance, or regulation relating to the sale, gift, distribution, or use of alcoholic beverages

Loss of Use: provision in homeowners and renters insurance policies that reimburses policyholders for any extra living expenses due to having to live elsewhere while their home is being restored following a disaster

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