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Do you have the right to drive your car if it is is insured by someone else with you on the policy?
Wiki User
∙ 13y ago
Yes
Wiki User
∙ 13y ago
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What type of insurance would cover expenses for someone injured on your property?
Public Liability Insurance is the ideal insurance that will cover someone injured on your property.This type of policy covers the insured's liability to members of the public. Such liabilities may arise as a result of the insured's business operation. The business being operated by the insured in his/her premises may at times lead to death, injury or accident to third parties, or damage to third party's property. Insured means policy holder.A bit more:Your homeowner's insurance policy will also include liability insurance if you have the right type of policy. Check with your homeowner's insurance company to see if you have that type of coverage.
Is the owner of the insurance policythe insured?
Not necessarily. The insured is the person whose life, health or property is insured under the policy. While the insured may also be the owner, it may also be someone or something (if an entity) different. Typically, the owner pays the premiums, has the right to change beneficiaries, and possesses other indicia of ownership. Usually the owner of the policy designated on the application for insurance. It is important for the insurer to know the identity of the owner from the standpoint of knowing from whom to take direction as to policy changes as discussed above.
When someone has a life insurance policy on you does this mean when you die they get the money?
If there is a policy on your life the person currently listed as the beneficiary will be paid upon your death. The person listed as the owner of the policy is the only one who has the right to change the beneficiary. Usually the owner and insured are the same person but not always. You may wish to check on this and change the beneficiary if your situation has changed.
Legally does the life insurance carrier have to notify someone who is named as an executor of a life insurance policy if they are different than the beneficiary or spouse?
Although there is no legal requirement in some states, an insurance company will answer questions from the executor of an estate, owner of the policy, or whoever had power of attorney over the policy at the time of the insured's death. The beneficiary has no right to any information on a policy until a claim is to be paid to them.
Can you deny the benefits of an insurance policy if you are the owner so the beneficiary can collect the proceeds of the policy tax free after the insured is deceased?
I assume you are talking about life insurance. As the policy owner, you have no right to benefits so there is nothing for you to do. Benefits are only payable to the beneficiary unless all beneficiaries are deceased prior to the insured then it would be paid to the estate of the beneficiary. The owner of the policy basically has control of the policy before the insured dies. They are the only one who can change address, payment method, beneficiary, etc. If the owner is not the insured then the owner is the only person who can make policy changes. The insured person has no control over the policy if a different person is the owner but after death the owner has no more rights. Also, all life insurance is tax free as long as you never deducted the premiums for tax purposes.
Does it cost more to get a right hand drive car insured in the US?
I doubt it would make any difference, but you could contact a good agent, or the policy services dept of the company you have insurance with (on any other vehicles), they would be able to tell you for sure.
Must a tenant pay the insurance company of the landlord for negligence in Ohio?
The answer dependent upon a few factors. If the tenant is an additional insured (sometimes called an additional named insured) on the policy, the insurer's right of subrogation (recovery from the at-fault party) usually does not apply. This is because upon the facts stated, the tenant is also an insured under the policy, so the insurer would in effect be subrogating against its own insured. If the tenant is not an additional insured or an additional named insured, the analysis would depend upon the terms of the lease. Some leases allow this kind of recovery, and others hold the tenant harmless.
How do you find out what company insured a house?
Just look at the policy, it will have the name of the insurance company or ask your insurance agent. If you mean who insured it for a previous owner you can't. Insurance records are protected under state and federal privacy statutes. If you were not an insured party to that insurance contract then you would have no right to access the records. The Insurance companies obligations would have been to the previous insured owner and all said obligations would cease when the policy ended or once the property changed hands.
What is the difference between a named insured and an additional insured on a general liability policy?
Attorneys will often say there is no difference, when it comes to extending coverage for legal liability. However, depending the specific additional form used there might be substanial differences in the portion of the general liabilty policy that is extended to the named insured versus the additional insured. For instance, older additional insured forms (CG 2010 11/85) extended coverage to the additional insured for "Products/Completed Operations". New forms use wording such as "ongoing operations of the named insured" that limit coverage to the additional insured to the "Premise/Operations" portion of the CGL form. In addition, an additional insured generally has no right to: * Request policy endorsements or cancellation * Receive copies of the policy contract, other than the a/i form and a certificate of insurance The purpose of an additional insured is to protect the rights of another party that might become legally liable for the actions of the named insured. For instance, a landlord might become entangled in a lawsuit caused by the actions of his tenant. By naming the landlord as additional insured, the named insured extends coverage, especially defense costs, to the landlord. The tenant's insurance company would have to defend both the named insured and the additional insured. Additional insured's are a common and increasingly important part of liability insurance. It is important you make sure your agent is aware of the specific nature of the relationship you have with the additional insured, to ensure the proper additonal insured form is provided. I generally like to review my clients contracts - including leases - to make sure the policy and a/i form are compliant.
What does failure to yield mean?
Means that you blocked the road for someone who had the right to drive right by.
If two children are named as beneficiaries of an insurance policy what do the children do if the surviving parent claims ownership of the policy?
There are 2 primary aspects to the answer to this question: (1) who is/are the beneficiary(ies), and (2) who owns the policy. Each question is significant. 1. When an insurance policy is purchased, the insured generally gets to pick the persons(s) who will be the beneficiary(ies). The beneficiary is the person or entity who or that gets the policy proceeds when the insured dies, assuming that the policy is then in force. The insured, during his/her lifetime usually has the power to change the identity of the beneficiary at any time until death. There is a circumstance called an "irrevocable beneficiary" that may alter this general rule, but it is fairly unusual and will not be discussed here. In a nutshell, it limits the insured's right to change the beneficiary(ies). When the insured dies and the insurer gets notice of death, a death certificate, and a proof of claim, it ordinarily pays the beneficiary(ies) shown on its records as being designated for payment. Assuming here that the two children are the named beneficiaries, the insured may have designated a 50-50 split, or some other division. The insurer usually complies with that designation without question and checks are issued. A third party, such as the surviving parent in this case, could claim entitlement to a share of the policy proceeds. It would be speculation to guess as to the grounds of that claim, but it is possible. If the survivot notifies the insurer of his/her claim, the insurer would conduct its own investigation to determine if the claim had any merit. Normally, barring very unusual circumstances, the named beneficiaries end of being paid, but sometimes not without a fight. 2. When an insurance policy is taken out by an insured, he/she is asked to designate someone as its "owner". Normally, the person who is insured under the policy is also the policy owner, but that is not always the case. Examples include, if someone else is responsible for paying the premiums, or the policy is taken out to protect a third-party's financial interest, such as the repayment of a loan. In those cases, someone other than the named insured may "own" the policy. Part of the significance of being the "owner" of the policy is that the owner has the power to designate or to change beneficiaries. Irrespective of who owns the policy, if the children are designated as beneficiaries as of the time of the insured's death, they should be entitled to the death proceeds. All of that said, undertand that insurance disputes can be extremely complex. Generally, the law of the state in which the policy was issued governs. Therefore, the ultimate result of a dispute over insurance may differ from one state to another.
What is the name of documents setting out terms of the contract of insurance?
Broadly, it is called an insurance policy. The constituent parts of the policy include: 1. The Declarations: this names the party/parties insured and summarizes the nature and amounts of coverage. It also identifies endorsements (usually by form number) which are additions or deletions to the coverage provided by the main policy contract. 2. The coverage parts: This is the main portion of the policy which sets forth that which is covered, together with conditions, exclusions, exceptions to coverage, limitations and conditions. 3. Endorsements: These are generally additions to the coverage under the main coverage parts. 4. The application: While the application is essentially the insured's offer to buy insurance that initiates the process that can lead to the issuance of a policy, the application is attached to the policy once it is issued. The representations made by the insured in the application become a part of the policy because the insurer has a right to rely upon them. Its reliance dictates whether it issues a policy and at what premium. Therefore, if the insured misrepresented a material fact, incorporating the application into the policy may give the insurer a basis to seek to void the policy after issuance.
