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If a driver is uninsured and at fault can he make payments to the insurance company or does he have to pay the full amount?
All companys that I am aware of will accept payments.
All policies pay only for the covered circumstances, and are subject to exclusions (which are important to understand). Assuming that the policy has been kept current, payment…s have been made, and the insurance company remains in business, most forms of insurance will receive their stipulated payments.
A. Life Insurance
Auto insurance: An accident that damages your vehicle Disability insurance: An injury that causes you to lose wages Homeowners insurance: A fire in your house that damages y…our personal possessions Health insurance: An illness that involves a trip to the doctor.
Which term is defined as the payment an insured makes to the insurance company on a regular schedual?
that is the insurance premium (can be monthly, quarterly, semi-annual or annual premium).
Most often by being unoccupied for 30 days. But you should refer to your Homeowners Insurance policy as this may very by company and or by state.
When one buys an insurance policy, one of the choices that is made is the amount of the deductible. A deductible is the amount of money that the insured elects to pay toward a… covered loss. Stated otherwise, the insured is "self-insuring" for the amount of the deductible, such that the insurer's obligation to pay is not triggered until the deductible is met. One it is, the insurer pays the amount of the remaining covered loss. The insurer's actual payment may also be subject to certain exclusions (things not covered) or limitations (payment is made only to a stated amount, even if actual charges exceed that amount). In the realm of health insurance, co-payments are also common. A co-payment is the percentage of the covered charge for which the insured remains responsible. An example would be that the insurer is responsible for the payment of 80% of the charge, and the insured is responsible for the remaining 20% in addition to the deductible. In general, premiums are lower for health insurance that carries a higher deductible and co-payment, because the insurer bears proportionately less risk for a covered occurrence.
insurance companies are important sources of term loans. The premiums generated constitute advances to the insurance companies for periods varying from six months to five more… years.This gives to rise to funds held for policy holders by the insurer, funds that must be invested in some manner.
Canal's mailing address is PO Box 7, Greenville, SC 29602. The phone number for the company is 800/452-6511. You are advised to contact the company for the address to send …premium payments. Unless you have just forgotten the address, if you have not made a payment for some time, your policy probably lapsed. You should find out one way or the other. You may be able to re-apply directly through the company; alternatively, determine from the company an agent in your area and go through him/her.
Insurance policies may be categorized into 2 sectors:- Life Insurance and General Insurance. In life insurance, claims arise during maturity and death, when the Insurance Cos …are to make payment. In General insurance falls medical insurance, fire & burglary, Professional indemnity,car insurance, Householders policy,shop keepers policy and so on. In medical insurance, when a person is hospitalized for treatment of illness/disease and stay for minimum 24 hours, either he can avail cash less system or claim under reimbursement. In the rest policies, when a fire or burglary occurs or so on, the claim has to be established with proper documentation supported by surveyor's report for consideration of the claim by Insurance Company, where they are policy bound to make payment.
All insurance companies have re-insurers, to protect their assets and investments. Insurance means spreading the risk to an insurance company, so insurance companies do the sa…me thing - spread their risk to the reinsurers.
Many insurance companies offer life insurance involving inexpensive term payments. Some of these companies include Progressive, United Health Care and Child Health Plus.
Patient deductible means the expenses incurred by the patient partyare inadmissble as per policy and hence deducted from the totalclaim amount at the time of settlement of cla…im. These may includeroom rent over and above the admissible rent, service tax, ayacharges,refreshment to patients' attendants etc.
Payment of damages by the insurance company against yourHouseholders' policy is paid directly to your account throughNEFT,instead of cheque as was customary earlier.
You will need to read the policy for an accurate answer. However a deductible is usually The amount that the insured must pay out-of-pocket before the health insurer pay…s its share. The equivalent on a motor insurance policy would be the "excess".