What does General Damages mean? Read on to discover the definition & meaning of the term General Damages - to help you better understand the language used in insurance policies.
General damages are damages (financial compensation) awarded for injuries or losses that do not have have a specified dollar amount. In other words, general damages provide financial compensation for intangible things such as pain and suffering or certain breaches of contract. In the context of insurance, liability insurance coverage can prevent parties from having to shoulder the full cost of paying general damages.
We hope the you have a better understanding of the meaning of General Damages.