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Can you collect from both the driver's policy and your own business policy if property damages exceed her liability limit?
Wiki User
∙ 14y ago
Only up to the limits of the claim. You cannot collect two identical awards from both policies. (e.g.: If the award was for 110 thousand dollars but one policy only covered up to 100 thousand. The second policy would pay the extra 10 thousand that the first policy didn't cover, but you could not collect 110 thousand dollars from BOTH policies for the same incident.) Also - if it turns out you were covered simultaneously under the provisions of both policies, the companies might want to 'subrogate' to see which company would pay what amount.
Wiki User
∙ 14y ago
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waiver of liability?
If you decide to sign a waiver of liability, keep in mind that you will not hold the company responsible for any damages that might incur if anything happens on your property or the business.
Why are so many new businesses choosing a limited liability company form of ownership?
All businesses which are in the form of company or corporation having limited liability. Limited liability means that if business become insolvent the creditors of business cannot claim the property of shareholders without their investment in the business to fulfill his damages.
What are the consequences of a collision?
Property, injury damages & possible liability (civil) dependent upon severity said damages.
Do you need to be bonded for a dog walking business?
Yes. If your dog walking business is bonded this just means you have liability protection in case you or someone working for you damages property while performing a service.
What does liability insurance protect against?
You can be sued for injuring someone, even unintentionally (as when someone gets hurt on your property). Then you are liable for damages. Liability insurance pays the damages if you lose a lawsuit.
What is the definition of Tenant's Legal Liability?
Provides insurance against legal liability for property damage to business premises leased or rented to the insured.
What insurance policy protects you against financial loss when your car damages the property of others?
Liability
Do you have to have liability for the other driver at fault to pay for your totaled vehicle?
If you want to collect otherwise you need a lawyer to sue for damages
Will the other insurance company pay for my damages if i don't have collision and it was not my fault?
It should if they have property damage liability.
What does limited liability insurance cover?
Limited liability insurance covers bodily injury liability like paying for medical expenses or lost wages when an accident occurs or property damage liability which takes care of damages to property and attorney and settlement when one is sued.
What types of business insurance can I get for a construction business?
You need to have liability insurance in case you're sued for damages. You also need vehicle insurance for you trucks and business insurance to protect the property of the business. Almost always your insurers will require that the owner be insured so that they can lessen their risks.
What is covered by cheap liability car insurance?
Liability insurance covers damages to the property or body of others, it does not provide any coverage for yourself of your property. Each state has a minimum coverage which depicts the cost of "cheap" liability auto coverage.
