Covered Property
/ˈkʌvərd ˈprɑːpərti/
Definitions
- (n.) Any real or personal property identified and designated in a legal instrument as subject to coverage under an insurance policy, mortgage, or security agreement.
The insurance policy lists the building as the covered property.
Forms
- covered property
Related terms
See also
Commentary
The term specifically denotes assets legally designated for protection or claim under an agreement; clarity in identification is essential for enforcement and coverage purposes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.