What does Victim Compensation mean? Read on to discover the definition & meaning of the term Victim Compensation - to help you better understand the language used in insurance policies.
Victim compensation is a government initiative that makes reparations or payments to victims of violent crimes, such as rape, assault, and homicide, to help compensate them for out-of-pocket expenses. This also includes reimbursing their families. Each state has its own program and specific coverage and eligibility requirements. In terms of insurance, victim compensation will not pay for any expenses that policies like Workers compensation may already cover.
We hope the you have a better understanding of the meaning of Victim Compensation.