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Its the replacement cost value (RCV), which means that there will be no depreciation for older property/ items as replaced.
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What does dropping your claim mean when taking about health insurance?
Printing the claim to paper
What is each and every claim mean in an insurance policy?
each and every claim = all claims
If someone has made a claim off your car insurance does that mean you have made a claim?
This means that a claim has been made AGAINST you. Your insurance company, in most instances, will not pay the third party until they have discussed the claim with you and verified what happened.
If you have dual insurance can you submit claims on both?
What do you mean by dual insurance? You cannot have two auto insurance policys on one car. If you mean can you claim damages (let's say) from the 'at fault' party and then also claim them under your collison coverage, no you cannot.
What does it mean to provide evidence of a claim?
Whenever a claim arises be it in life or general insurance sector, it has to be substantiated by eye witness or material evidence to the satisfaction of the insurance company.
What does medical claim mean?
A medical claim is the application for compensation against a health insurance policy or against another's liability insurance policy for the covered portion of a covered event.
What does closed without any indemnity mean?
It means you had an insurance claim of some sort for which the insurance company did not pay anything.
What does the word payer mean in terms of health insurance?
The primary /secondary payer is usually the insurance plan covering the claim
Can you purchase liability insurance only when you need it?
By "only when you need it" do you mean only when you are aware of a claim or potential claim? If so, the answer is "NO". You cannot buy insurance on a burning house, so to speak.
What does Excess applies each and every claim mean in an insurance policy?
Excess applies
What does each occurrence mean in liability insurance?
An occurrence is a loss, or a claim filed on the policy.
What does 'a medical deductible' mean?
That is insurance terminology. It is a portion of a covered claim that the insurance company will not pay and that you have to pay to the doctor or hospital yourself.
