Which term is used to describe a financial loss from damage to someone's property due to an insured's negligence?

The term used to describe a financial loss from damage to someone's property due to an insured's negligence is Property Damage Liability. This coverage is a key component of liability insurance and protects the insured from costs associated with damages they unintentionally cause to another person's property.

In the context of personal lines insurance, Property Damage Liability is crucial because it ensures that if the insured is found responsible for causing property damage, the insurance will cover the legal expenses and restitution, allowing them to avoid significant out-of-pocket costs.

Other options, while important in their own right, do not specifically address the scenario described in the question. General Liability refers to a broader category of insurance that includes various types of liability coverage. Professional Liability pertains to claims arising from services and advice provided by professionals, such as doctors or lawyers, rather than physical property damage. A Business Owners Policy is a package insurance product that generally combines property and liability coverage for small businesses, which again does not align specifically with personal liability for property damage caused by negligence.