0
What else can I help you with?
What term is defined as the amount you are responsible for paying to repair your car after the accident?
The term is "deductible". It is payable as to collision and comprehensive claims. The deductible is chosen by the insured when the insurance is initially purchased.
Is it worth it to get home warranty insurance?
Home warranty insurance will assist in the repair of your home for a limited time. Depending on the condition of the real estate you purchased, you need to weigh the cost of the warranty to the cost of the repair.
How are home and auto insurance prices created?
Home and auto insurance prices are created by the insurance broker doing research on the probability of them having to make a claim, and the amount it would cost to repair or replace such insured article.
Is a car insured when it is the repair shop?
Standard auto insurance covers what happens while you are driving unless you add on other protections (and pay more money.)If something happens to it in the repair shop, the shop should be responsible. Make sure they have insurance to cover you.
You had a rental property that went into foreclosure and you could no longer keep the property insured the property burned down and the city is sueing for the demolition mortgage co insured?
the mortgage co purchased insurance on the property in the amount of $65,000.00 the amount owed on the loan was $55,000.00 The house was set on fire and burned beyond repair now the city is sueing me for the demolition. Do I have any rights in regards to this matter?
What does collision coverage What does collision coverage?
In automobile insurance, collision coverage provides for repairing a vehicle when it is damaged due to the fault of the insured. Liability insurance provides for cost of repair of the OTHER vehicle if you damaged it.
CU put insurance on your car you were in an accident the insur. co is saying that it is totaled but the fee they said they will give the CU is what repair shops have quote to fix can we fight?
Single Interest Insurance is insurance that the lienholder, finance company, or lender will purchase to protect the lenders interest when the buyer/borrower fails to meet the obligation of the finance contract requiring the buyer to maintain insurance on the property being purchased until the note is paid. Single Interest Insurance cover the Lender, Not the Borrower If the CU had to purchase insurance on your vehicle, then this means that you were in default on your finance note by failing to provide the insurance coverage you agreed to when you financed the vehicle. You gave them no choice but to protect their interest in the vehicle. Single interest is going to cover only them. The CU is Insured, You are Not Insured. They are covered, You are Not. This means you have no claim and you have nothing to fight because you are not an insured. If you were at fault in the accident mentioned, then you also have no coverage on the lenders Single interest Policy to cover any damage you caused in the accident. The CU does have a claim because they purchased insurance to cover their interest in the vehicle. Single interest insurance covers them, Not you. Remember, you were supposed to be insured and you were not. of course you can 'fight' anything.....please give me more info...such as year/make/model/mileage......cost of repair, (amount they are giving the cu)....what they say the actual cash value of your vehicle is etc........
What is the meaning of monetary loss in insurance?
In the context of property insurance, "monetary loss" refers to the destruction or the reduction in value of the object insured. It can also refer, for example, in the context of collision or comprehensive coverage in an auto policy, to the cost of repair. In the context of health insurance, it can refer to the cost incurred in providing medical care (for which the insured would otherwise be liable-this, incurring a monetary loss). In the context of life insurance, it refers to the loss of the financial interest that a beneficiary has in the continued life of an insured.
What is Bailees Coverage?
Inland marine coverage on property entrusted to the insured for storage, repair, or servicing. It is typically purchased by businesses such as mini storage owners, jewelers, repairers, etc.
Can an insurance company claim damages from a person who was involved in an accident with the insured after his vehicle is repaired by the insurance company?
Yes; the process is called subrogation. The insurer that paid for the repair of its's insured's vehicle succeeds to the right of action against the at-fault party for the purpose of collecting that which it paid. The subrogating insurer has no greater rights than its insured did, such that if its insured is found to have been, for example, 30% at fault for the collision (in those states that adhere to comparative negligence), the insurer can recover only 70% of its damages.
If you only have liability insurance and you cause an accident does your insurance cover fixing the other party's vehicle?
Here in Canada we have NO-Fault where each insurer is responsible for their own insured. In that case, the other party's carrier would repair the vehicle, and then subrogate on your company.
What does Annual Premium mean?
This is the amount paid the policyholder on an annual basis to cover the cost of the insurance policy being purchased. In effect, it is the primary cost to the policyholder of transferring the risk to the insurer. Important to keep in mind, though, is that this will not be the only cost incurred to maintain the insurance. Depending upon the type of coverage involved, there may be deductibles and copayments, which are forms of cost-sharing between the insured and the insurer. A deductible is the amount that the insured must pay toward a covered claim before the insurer's obligation to pay is triggered. For example, if one maintains a $250 auto collision deductible, the insured is responsible for the first $250 in repair costs for a covered claim. A copayment is a type of cost sharing frequently found in health insurance policies, although deductibles also exist there. A copayment is the percentage of a covered claim for which the insured is responsible once the deductlble has been met.
