Common exclusions found in liability policies are damage to property owned by the insured.
<h3>What are liability policies?</h3>
Liability insurance is a component of the general insurance system of risk financing that shields the buyer from the risks of liabilities brought on by lawsuits and other claims of a similar nature.
It also shields the insured in the event that the buyer is sued for claims covered by the insurance policy.
Hence, the choice of damage to property owned by the insured is correct.
