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In forming an insurance contract when does acceptance usually occur?
Wiki User
∙ 6y ago
When the insurer accepts the prepaid application.
Marta Bins
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What does date of acceptance mean on a real estate contract?
The date when the signed contract has been delivered to the agent or the seller/buyer. This may now include e-mail as well as faxed copies. This date usually starts the clock on deadlines in the contract, which are often expressed as "within 14 days of acceptance...." etc.
Can auto insurance be in a minors name as long as the guardian is a signy?
Most insurance companies will not allow insurance to be in a minors name. The reason for this is that an insurance policy is a legally binding contract and a minor cannot usually sign such a contract. It is usually also not a goo idea to have a vehicle titled to a minor and the policy should be in the name of the person who owns the vehicle.
What is contract liability insurance and indemnity insurance?
In many cases when you enter into a contract, whether it is a contract for work, a lease agreement or any other type of contract, there will be clauses covering insurance and indemnification, which is a fancy word for covering someone else's financial loss. Liability insurance provides money to cover losses to others due to negligence on the part of the insured. In this case, the insurance company is indemnifying the insured. If there is an indemnification clause in the contract then the contractor must indemnify the contractee as specified. This is most usually done by adding the contractee as either an additional insured (in the case of liability insurance) or as a loss payee (in the case of property insurance) to their existing policy. If the person entering the contract does not have insurance or does not have sufficient insurance, then those policies can usually be purchased. However, having the insurance or having the contractee named on your policy does not alleviate the indemnification.
Can a minor enter into a contract for car insurance in South Carolina?
Usually the answer to this question is no. Rarely an insurance company will let a 17 year old take out a policy on their own if they legally own the vehicle as well. Because an insurance policy is a legal contract that usually means that you must be 18 in order to sign the policy application.
Can your insurance carrier raise your deductible without your knowledge?
No, they must inform you of changes to the insurance contract. However, if they sent notice, they will usually have file information on when and where sent.
Can a car only get repossessed for no insurance?
Absolutely. When you purchase and finance a vehicle you sign a legally binding contract. Perhaps you should read what you sign. The contract states that you agree to carry insurance that includes comprehensive and collision with a maximum deductible of usually $500. If you let your insurance cancel then you have broken the contract and therefore the finance company can reposses the vehicle.
Can a 16 year old girl get car insurance without having her parents on the insurance company?
A minor can not legally enter into most binding contracts As a result a parent or guardian is usually required to approve or authorize a contract by signature. So Although, Yes,, they can obtain Auto Insurance Without the parents listed as named insureds on the insurance contract, However, A parents signature will still be required on the insurance application authorizing the minor to enter into the contract.
Can an insurance agency have financial interest in mortgage company?
Usually yes because an insurance agency does not issue the insurance, it sells or brokers an insurance contract that is issued by an insurance. However some insurances do not like it when there is a controlling interest in a mortgage company. It all depends.
Do you get cash from your mother's life insurance policy when she dies or does your father get it all?
The named beneficiary on the life insurance policy gets it. It is a contract and specifies who gets paid, usually it will be the spouse.
How long before i get employment insurance?
Employment insurnance will usually start afer your probation is over. It should say in your contract how long you will be on probabtion for it is usually 3 months.
Which part of the life insurance policy sections states the amount and frequency of premium payments?
Usually the "face" or first page of the contract.
What is short term car insurance?
Short term car insurance is car insurance that you can buy from month to month rather than sign a long term contract that usually runs over the course of a year or so.
