What are the definitions for liability insurance medical payments insurance uninsured motorist comprehensive and collision for auto insurance?

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(1) Liability insurance is a kind of third-party coverage. It pays money damages to a third-party who/that sustains damage (that can be measured monetarily) as a result of the insured's negligence (carelessness). The amount payable is limited by the policy limits, which in turn depend upon the amount of coverage that the insured purchased. (2) Medical payments coverage is also third-party coverage. It pays reasonable medical expenses incurred by a third-party, sometimes without regard to fault. Frequently, an insurer will be willing to pay medical expenses in return for avoiding a lawsuit. (3) Uninsured motorist coverage is first-party insurance maintained by the owner of a vehicle. It is intended to pay money damages to the owner, driver and/or passengers who are injured in a collision with a vehicle that does not have liability insurance (which would otherwise pay that/those damages. There is a variant of uninsured motorist coverage called "underinsured motorist coverage". It applies in situations where the at-fault party's liability insurance is insufficient to fully compensate the injured person(s) for his or her injuries. Therefore, the injured party may have a claim against the at-fault party (to the extent of his/her coverage) and their own insurer (for underinsured motorist benefits). Generally, payment takes into account the degree of fault of the insured for causing the collision (because it serves as the functional equivalent of the other party's liability coverage. (4) Comprehensive coverage is first-party insurance that covers categories of physical damage to the insured vehicle that are not caused by a collision. An example would be flooding of a vehicle during a hurricane, or a tree falling on it. (5) Collision coverage is first-party coverage that pays for the repair or pays the actual cash value of the insured vehicle if it is damaged in a collision. Payment is made without regard to fault. The net payment to or on behalf of the insured is reduced by the policy collision deductible. that the insured selected at the inception of the policy. Most states require an insurer to declare a vehicle to be a "total loss" if the cost of repair will exceed a stated percentage of its actual cash value. In that event, the insurer pays the actual cash value less the deductible. In some cases, the insured wishes to retain the salvage (the remains of the totaled vehicle). In those cases, the value of the salvage is also deducted from the payment to the insured.
Liability insurance: The coverage found on any auto policy that handles damage you cause to another person's property, either directly or indirectly with your car. Medical Payments Insurance: Can be either Medpay or PIP. PIP -- or "personal injury protection -- is required in many states, and essentially handles your medical bills in an auto accident, regardless of who is at fault. (summary:will re-attach your fingers if chopped off in a accident) Uninsured Motorist: Can be for either property damage or bodily injury, and essentially makes your carrier step in when the at-fault party is either uninsured or doesn't have enough coverage to handle all your damages. Most people have UMBI (for bodily injury), and mistakenly believe it covers property damage to their cars as well. It doesn't. (summary:will pay for your loss of income as you are an architect whos fingers were cut off and had to miss work for two months while in physical therapy) Comprehensive: A voluntary coverage that, along with collision, constitutes "full coverage" on a vehicle. This is for "non-collision" type accidents, even when you collide with an animal. Essentially, it's to protect your car when you aren't at-fault for a loss. Includes coverage for hail, flooding, etc. Collision: Another voluntary coverage, which handles collisions or overturns involving your vehicle. This is triggered whether you're at-fault or not for a loss, in that it's specific to your vehicle colliding with another object or overturning.
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What does comprehensive auto insurance cover?

Comprehensive auto insurance covers theft, fire, vandalism, weather damage, riots, and other similar acts which may cause damage to a vehicle. Comprehensive auto insurance does not usually cover acts of God, theft or vandalism by family members or employees, contents of the vehicle, or damage due to ( Full Answer )

If you have uninsured motorist insurance are in an accident and its you fault other driver has no insurance or drivers license can you get your car fixed if you only have liability insurance?

Answer . As a broker, I can tell you NO, there is no coverage if you are at fault. Now if you are only partially at fault, example, 50%, and it's proven, there may be coverage under your carrier. I'm in Canada where things are a bit different but it wouldn't hurt you to try right?

What is collision and comprehensive on an auto insurance policy?

I am a licensed insurance agent. Comp is if your vechile is stolen, or damaged by something other than a car which you will have to pay the dec. Coll is if you get into a car accident and say the person did not have insurance then your coll would kick in. But in most cases there property damage will ( Full Answer )

Who pays the medical bill if you are involved in an accident where the at fault party is uninsured and you don't have uninsured motorist coverage but you do have medical insurance?

This is a great question. My husband was hit by a car while on his motorcycle last June. He DID NOT have uninsured motorist on his bike and the woman had no insurance at all, so unfortunately we could not go after her for any money. He was in the hospital for one month, 8 surgeries and is still unab ( Full Answer )

What is Auto collision insurance?

Collision coverage pays to repair or replace your vehicle if you are determined to be 'at-fault' (you caused the accident). Typically, a deductible (amount you pay out of pocket) applies to this type of coverage. The most common deductibles are $500 to $1000, but can be lower or higher. Comprehen ( Full Answer )

What is comprehensive auto insurance?

If you are in the process of quoting auto insurance, chances are the term comprehensive coverage has come up quite often. Comprehensive auto insurance coverage is a coverage that will pay to repair or replace your vehicle in the event of a covered loss up to the fair market value of the vehicle. Cov ( Full Answer )

If you are an insured motorist and get hit by an uninsured motorist should you use your job's personal medical insurance or your auto insurance or both?

Answer . More than likely, you will begin by using your personal medical insurance. Medical expenses and lost wages can possibly be reimbursed through the uninsured motorists coverage. Uninsured/Underinsured coverage laws vary by state. Contact your insurance agent for a full explanation of h ( Full Answer )

Can a medical insurance company recop money paid by uninsured motorist?

Yes, they can. When you enrolled in the health plan and when you submitted the claim, you agreed to allow them to recoup money from any responsible party. It does not matter whether the responsible party was insured or uninsured; if they paid, the health plan has the right to recoup the money it pai ( Full Answer )

What is liability auto insurance?

Liability auto insurance protects you from judgments against you in the event that you cause damage with your vehicle. In Nebraska, it usually appears represented in this way: 100/300/100. In that representation, 100 refers to $100,000 worth of coverage per person for Bodily Injury caused by your ne ( Full Answer )

Auto insurance liability?

Most of the auto insurance packages come with liability insurance included, since it is usually required by the law. The main purpose of the liability insurance is to provide compensation in case of an accident. In order to make things clearer for you, when you, for example, are involved in a car c ( Full Answer )

What is comp and collision auto insurance?

Collision is meant to cover your car when it collides with something else. Comprehensive is also sometimes called other than collision, so it usually covers the other things that can happen such as fire or theft.

Should you get uninsured motorist insurance?

Unfortunately, yes. Although the laws require every motorist to have adequate insurance coverage in order to register their vehicles, some will do just that and once they receive their current vehicle license, drop the insurance simply because they cannot afford it and eat, too. You should also g ( Full Answer )

Why get uninsured motorist insurance?

Because there are many people who are driving without insurance coverage in our nation. Far more than you realize. It is a stupid and reckless crime but it happens all the time. If you do not have uninsured motorist coverage you will be on your own to try and collect your damages from someone who ha ( Full Answer )

What is the benefit of having uninsured motorist coverage and medical payments on your auto insurance policy?

The benefit of having uninsured/underinsured motorist coverage is that almost 20% of us drive around with no insurance. There's also a good percentage of high risk drivers with minimum coverage running around. That's quite a pool of drivers we're up against every day. You want to be able to cover yo ( Full Answer )

What is liability coverage on auto insurance?

This means that if the accident was your fault, your insurance will pay(up to an amount that is on your policy) for the other property and persons involved in the accident. Liability insurance does NOT cover your vehicle damage..

What does auto liability insurance cover?

Auto liability insurance is specifically designed to cover any damage caused to other vehicles if you have an accident. It does not cover reapirs to your own vehicle. It is by law the minimum requirement for insurance in every state.

What is uninsured motorists insurance?

Uninsured motorist coverage is a type of first-party auto insurance that compensates one if he/she is injured in a collision due to the negligence of someone else who does not have bodily injury liability coverage. Essentially, it pays the same sort of damages as the at-fault party's bodily injury l ( Full Answer )

How much medical payment auto insurance coverage is right?

This question is very tough to answer well. I know in PA medical from auto insurance is the first source used to cover a medical expense. If you have a decent health insurance plan this can provide coverage over top of the medical from your auto.. However,as the deductibles on health care are incre ( Full Answer )

What is collision auto insurance?

Collision insurance pays for damage that happens to your vehicle in an accident if it is your fault. It does not pay for the other vehicle or property involved in an accident. It is not required by law but it is highly recommend especially if you financed the vehicle and are still paying off the ( Full Answer )

What is nonowner auto liability insurance?

This is a type of auto liability coverage that can be purchased when the buyer does not own an automobile. While auto liability insurance is typically said to "follow the car", meaning that it correlates with a particular vehicle, non-owner's coverage "follows the driver". In that sense, it covers t ( Full Answer )

You have collision insurance is uninsured motorist insurance necessary?

Collision insurance will cover the damages to your vehicle- no matter who is at fault. Uninsured coverage is used if the other vehicle is at fault for the accident and you and/or anyone in your car is injured. This coverage will typically pay for related medical bills, loss wages, and general damage ( Full Answer )

What does liability auto insurance cover?

Damages to other's vehicles, property, or persons in an accidentwhere you were found at fault . In "no fault states" eachperson's policy covers the other's damages without requiringdetermination of fault.

What does auto collision insurance mean?

Auto insurance consists of both liability insurance and physical damage coverage. Collision coverage is part of the physical damage section of an insurance policy and is designed to either repair or replace your vehicle if you are involved in an accident up to the fair market value of the vehicle. C ( Full Answer )

What does uninsured motorist and under insured motorist insurance cover?

Uninsured motorist coverage pays damages for bodily injuries when the at-fault driver or owner of a vehicle has no bodily injury liability coverage. It pays an amount up to the amount purchased by the insured, and is generally not a required coverage. In those states that utilize a comparative negli ( Full Answer )

Does liability insurance cover you from an uninsured motorist?

No. Liability insurance protects you from claims by third parties if an occurrence is alleged to be your fault and the third party claims compensable damages. It indemnifies you (pays damages on your behalf), and provides a defense (hires and pays an attorney at its own expense-if it wishes to conte ( Full Answer )

What happens if you only have liability insurance and an uninsured motorist hits your car when its parked?

Liability insurance protects you only from a claim for damages by another party if you were at fault for a collision; it does not pay to repair your own car. Therefore, if the other party was not insured, you must pay for the repairs to your car yourself. Whether or not you do will depend upon whe ( Full Answer )

What are auto insurance liability limits?

This term refers to the maximum amount of money that the insurer is obliged to pay on your behalf in the event of a collision. The premium that you pay to the insurer for this protection is a function of many factors, once of which is the liability limits. Liability limits are usually expressed in ( Full Answer )

Is there a deductible on liability auto insurance?

Not with respect to personal auto insurance. However, when commercial auto insurance is involved, especially fleet coverage, there sometimes is. It is not called a deductible, but a "self-insured retention". The insured selects an amount that it is willing to pay toward the indemnity of a third part ( Full Answer )

What do you call comprehensive and collision insurance if you have both?

We used to call this "full coverage" but insurance companies do not use the term "full coverage" anymore because there are always cases where there is no coverage. Such as damage done intentionally by the insured, and certain other rare occasions. I'm sure some lawyer sued when someone burnt their o ( Full Answer )

What is the difference between full coverage auto insurance and comprehensive and collision insurance?

This is a good question. Full coverage was a term that used to be used in insurance to describe a policy that had liability, comprehensive, collision and any other endorsements that the client wanted such as rental coverage and whatever else. Due to it being the day of suing over everything we don't ( Full Answer )

Auto loan and no collision insurance?

Don't do it as you are likely breaking your contract and the auto will be repossesed or you will be charged for forced place coverage or both.

What does comprehensive general liability insurance cover?

Comprehensive general liability insurance covers businesses against many liability exposures of a business. Comprehensive general liability insurance coverage includes completed operations, elevators, independent contractors, and more.

Can blue cross be reimbursed on a settlement from an auto insurance uninsured motorist policy?

This will depend on regulations for different states as well as policies. In most cases automobile medical payments will pay before health insurance will be responsible for remaining expenses from an automobile accident. If Blue Cross was billed and paid first before finding out that their was payme ( Full Answer )

Do you need liability insurance if you have comprehensive insurance?

Generally, you can't buy comprehensive without first buyingliability coverage. Liability covers damage you do in an accidentif it is your fault. Comprehensive will not even pay for yourvehicle in an accident. It only covers fire, theft, vandalism,animal collision, etc.