owner's liability insurance

owner’s liability insurance

Insurance which protects the owner against claims arising from his ownership of property and which may be extended to cover claims which may arise from operations of others under the construction contract.
McGraw-Hill Dictionary of Architecture and Construction. Copyright © 2003 by McGraw-Hill Companies, Inc.
References in periodicals archive ?
First, by mandating that every resident have renters' insurance, property managers can reduce the owner's liability insurance payments because they have lowered the risk at the property, which in turn can lower the insurance premium assigned to the community.