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Insurance Definition: FIRST-PARTY COVERAGE

By Compuquotes Team on March 27th, 2008

FIRST-PARTY COVERAGE:

Definition:

  • Coverage for the policyholder's own property or person. In no-fault auto insurance it pays for the cost of injuries. In no-fault states with the broadest coverage, the personal injury protection (PIP) part of the policy pays for medical care, lost income, funeral expenses and, where the injured person is not able to provide services such as child care, for substitute services. (See No-fault; Third-party coverage)

Information provided by Insurance Information Institute

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