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Insurance Definition: THIRD-PARTY COVERAGE

By Compuquotes Team on March 27th, 2008

THIRD-PARTY COVERAGE:

Definition:

  • Liability coverage purchased by the policyholder as a protection against possible lawsuits filed by a third party. The insured and the insurer are the first and second parties to the insurance contract. (See First-party coverage)

Information provided by Insurance Information Institute

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