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Who gets insurance money on a total loss policy holder or vehicle owner?
Wiki User
∙ 15y ago
Lien holder is paid first, any balance goes to registered owner.
Wiki User
∙ 15y ago
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Who gets the claim money car owner or policy holder?
The car owner and the policy holder better be the same person. If not nobody will be able to get the money. You cannot insure a vehicle that you do not own. If you do the insurance company cannot pay the policy holder because they don't own the vehicle. They can't pay the vehicle owner because they don't have a contract of insurance with the insurance company.
What do you do with your auto insurance when you sell the auto?
You need to call your insurance company to remove the vehicle from your policy. If you are getting a new vehicle, you need to add that vehicle on. If you are not getting a new vehicle, the insurance company will send you a check for whatever amount of money you had left on the policy that was not earned because you did not have the policy for the full term.
Can there be more than one insurance policy on one vehicle?
You can not insure a vehicle for more than its value so more than one insurance policy would be a waste of money.
What is the amount of money that the policy holder must pay before the insurance company will reimburse an insured loss?
deductible
What happens if someone dies and has no beneficiary on his life insurance policy?
In that case, the money will be kept deposited with the insurance company as unclaimed amount. In absence of the beneficiary, the insurance company can pay the money to the legal heir of the policy holder, but that has to be sufficiently proved in the Court of Law.
I have a question about auto insurance Would the policy holder get their money back be reimbursed if they added 1 person to their insurance policy and then took them off right away?
No, the person will not be reimbursed for taking someone off their insurance immediately.
Who is policyholder in an insurance policy?
Insurance policy holder is who has entered into a contract with the insurance company providing for payment of a sum of money to the person assured, or failing him, to the person entitled to receive the same, on the happening of certain event. In the case of general insurance e.g. Medical insurance, on paying a prescribed premium, the insurance policy holder is protected against any disease/illness with its preconditions upto a pre determined sum insured amount, by the Insurance service provider.
What are some key features of Endowment Life Insurance?
An endowment life insurance policy pays the holder a lump sum either after it reaches maturity, generally within a specified time, or upon the holder's death. Endowment life insurance will either pay a set amount of money to the holder's beneficiaries in the case of the holder's death prior to maturity, or once it matures the policy is paid out to the holder. It is similar to whole life insurance except that it has a shorter maturity rate and is intended to be used as a benefit while the insured is still alive.
Does insurance company owe money to family members in 2010 if policy holder purchased policy in 1953?
If the policy was still in force and the insured has died, then yes, the insurance company would owe the death benefit. If the policy was cancelled or surrendered, the company would not owe anything.
What is the policy or frequency of Erie Insurance on checking a clients motor vehicle record for any speeding tickets?
== == They automatically check every policy holder's driving record, every year, by computer, to save money and to keep track of the bad ones, who they either cut off or charge much higher rates. After Hurricane Katrina, the insurance industry will be looking for every way possible to cut their bad drivers off, and save money.
How long before life insurance pays out after death?
Usually the payout happens within 2-4 weeks from the date of claim by the next of kin. When a policy holder dies, the nominee of the policy has to submit paper-work to the insurance company along with proof of relationship and death of the policy holder. Once everything is completed, money would reach the beneficiary in around 2 to 4 weeks.
Lien holder on your vehicle?
The lien holder is the person or firm, you borrowed the money from to purchase the car.
