What Does Liability Insurance Cover?

[Noam]

I want to know what does liability insurance cover exactly.
Does liability insurance cover legal fees, medical bills, or property damage?
Are there common exclusions in liability insurance policies?

 

[Dylan]

Liability insurance includes expenses in case you are legally prosecuted to have hurt another individual or destroyed their property. It usually covers the medical expenses, repair expenses and your defense expenses of the third party but never your losses.

 

[Muichiro]

Liability insurance covers legal and medical costs if you’re responsible for injury to others or damage to their property, including lawsuits, settlements, and legal defense fees.

 

[tonny]

Liability insurance is insurance that includes a claim of bodily injury, damage to the property, and litigation costs in case you are responsible to the damage caused to others. It may also cover medical expenses, settlements, and defence expenses. Depending on the type of policy, the coverage is granted on businesses, homeowners, vehicles, or professionals.