Owned-Property Exclusion Law and Legal Definition

Owned property exclusion is a provision in a comprehensive general liability insurance policy that allows only third parties who are injured on or by the insured's property to make liability claims against the insurer. Generally, the provision excludes coverage for property owned, rented, occupied, sold, given away, or abandoned by the insured; personal property in the care, custody, or control of the insured; and property located where the insured and its employees work.