The property is insured
An object or objects that belong to someone:
The club does not accept responsibility for loss of or damage to club members' personal property. Both books have "Government property" stamped inside them. Children need to be taught to have respect for other people's property. a building or area of land, or both together: He owns some properties on the south coast. The notice said, "Private property - keep off!" Yes, I've bought my own house - I'm now a man/woman of property[Cambridge Dictionary]. Anything that can be owned. A distinction is made between real property (land including incorporeal hereditaments ) and personal property (all other kinds of property) and between the tangible property (that which has a physical existence, e.g., chattels and land) and intangible property (chosen in action, including intellectual property, and incorporeal hereditaments). For the law of theft, the property includes all real, personal, and intangible property, although land can only be stolen under certain conditions. Something capable of being owned ( see personal property; real property ). It may be tangible, such as a building or work of art, or intangible, such as a right of way or intellectual property. A macroscopic, observable, physical quantity that characterizes the state or behaviour of a substance or system. Examples include pressure, temperature, mass, volume, elastic moduli, Poisson’s ratio, and coefficients of thermal expansion. Many thermodynamic material properties, such as density and enthalpy, are defined in terms of other properties and depend upon temperature and pressure. Property Islamic law considers property rights as God-given and regulated. The owner of personal property is vested with the exclusive right of its use, enjoyment, and disposal, except when legally restricted[Oxford Reference]. Insured a person or company covered by an insurance policy. In some policies that cover death, the alternative word assured may be used for the person who receives the payment in the event of the assured's death. The payment of an additional premium to return the sum insured to its full level after a claim has reduced it. Insurance policies are, in effect, promised to pay money if a particular event occurs. If a claim is paid, the insurance is reduced by the claim amount (or if a total loss is paid, the policy is exhausted). If the policyholder wishes to return the cover to its full value, a premium representing the cover used by the claim must be paid[Oxford Reference]. The person, group of people or organization is insured in a separate agreement. Having insurance: insured to do sth While the owner might be insured to drive his car, friends, and relatives are not.
insured against sth You are insured against flood, irrespective of the cause.
insured for sth The painting was insured for $2 million[Cambridge Dictionary].
Insured.(2023)Cambridge dictionary. Retrieved from: https://dictionary.cambridge.org/dictionary/english/insured
Insured. Oxford Reference. Retrieved from: https://www.oxfordreference.com/search?q=insured&searchBtn=Search&isQuickSearch=true
Property. Oxford Reference. Retrieved from: https://www.oxfordreference.com/search?q=property&searchBtn=Search&isQuickSearch=true
Property.(2023)Cambridge dictionary. Retrieved from: https://dictionary.cambridge.org/dictionary/english/property