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.
(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.
Comprehensive insurance covers theft. Liability & Collision do not.
Liability insurance only covers someone else in the case that you are responsible for damages caused in a collision. Comprehensive coverage will cover a driver that you hit, as well as cover yourself for any damages inflicted during a collision.
definition of comprehensive & liability insurance
Auto insurance includes: liability, collision, comprehensive.Liability covers what you do to someone else's property and body.Collision covers your car when you are at fault in a collision.Comprehensive covers uninsured motorists, theft, vandalism. natural disasters and the like.the answer is liability coverage
Comprehensive motor insurance usually covers bodily harm or damage caused by an accident. The comprehensive insurance also cover the liability of the car damages in regards to collision coverage. When deciding on collision coverage, it is important to consider the age of the vehicle to determine if comprehensive or full coverage is needed on the vehicle or if collision insurance would be the appropriate choice.
Basic liability insurance. This covers the person you hit. Comprehensive and collision covers your car.
Elephant Insurance offers free instant quotes for automobile insurance. You can find out information on liability insurance and full coverage with comprehensive and collision.
Erie Insurance auto insurance plans include coverage for bodily injury liability, medical payments, property damage liability, collision, comprehensive, and uninsured/underinsured motorists.
Generally, you can't buy comprehensive without first buying liability coverage. Liability covers damage you do in an accident if it is your fault. Comprehensive will not even pay for your vehicle in an accident. It only covers fire, theft, vandalism, animal collision, etc.
Liabilty will not cover damage from a collision with a deer no matter what insurance company you have. Animal collisions are covered under "Comprehensive" or "Other Than Collision" coverage. Liability only covers damage you do when you are at fault.
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.
No. Liability insurance covers damage you do to someone else's property. Theft would be covered by comprehensive insurance. In most jurisdictions, liability insurance is required but comprehensive is not.
Seven types of insurance should get for a new car as like: Liability Insurance Collision Insurance Comprehensive Insurance Motorist Protection Personal-Injury Protection No-Fault Insurance Gap Insurance
Comprehensive coverage will usually cover you if you hit a deer. Coverage may be optionally covered under comprehensive or collision in some states. If you do not actually hit the deer and have a collision, it would only be covered under collision insurance.
Options available with auto insurance are Liability, Medical coverage, Collision and comprehensive coverage, and Uninsured motorist coverage.SK(APEX)
That all depends on which bank gives you the loan. Most banks require that you carry comprehensive and collision coverage and don't even care if you have liability. Others want both. Very rarely you will get a bank that wont' mind if you don't have comprehensive and collision.
No, liability insurance is when there are injuries involved. If you are injured in an accident when someone else is driving your car, your liability insurance would cover your medical costs. Comprehensive and collision insurance on the car you were driving should pay for damages to the vehicle.
Direct Auto Insurance providision includes cover for bodily injury liability, property damage liability, collision and comprehensive coverage. They also provide motorcycle insurance, roadside assistance, life insurance, and emergency protection.
There are seven types of car insurance available. There is liability, collision, comprehensive, uninsured motorist protection, medical/personal injury protection, no fault, and gap insurance.
Normal car insurance Liability, Collision, & Comprehensive will not pay off the loan. You would need to get the proper insurance for this purpose. Either life insurance or insurance for the purpose of loan payment.
Term insurance refers to life insurance. ( for people not objects) If you are looking for comprehensive ,collision, or liability coverage for your helicopter, check with your auto insurance agent to see if such a coverage exists.
Both insurance companies will pay for their own, depending on your policy coverage.
This is a question that has no real answer. It's like asking whether apples or oranges are better. It depends on your situation. Liability only covers the person you hit and their damage if its your fault. It is usually required by state law in most states. Comprehensive and Collision are coverages that cover physical damage to your vehicle and are additions that are added to a liability policy. You can buy liability without Comp and Collision but not Comp and Collision without liability under most circumstances.
Your liability portion of your auto insurance pays for injury and damages for which you are liable to others. Your Comprehensive and Collision portion of your auto policy will cover your own vehicle. One can not be liable to ones self. If you have "liability only" coverage, then their is no coverage for your own vehicle if you were at fault.