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DOL, or Date of Loss, indicates the calender date of an accident or the date that the loss occurred.
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What do car ISO symbols mean in auto insurance?
the ISO Symbols assigned to vehicles in auto insurance underwriting are representative of the historical risk and loss factors associated with that specific vehicle make an submodel. They are crucial in accessing the overall risk for the insurer.
What do they mean when they ask are you insured?
Do you have any insurance. If driving, they ask for your proof of auto insurance.
What does ALAE mean on a Professional Liability Insurance Loss Run?
Allocated Loss Adjustment Expense
What exactly does free auto insurance quote mean?
customer buy insurance policy to keep themselves safe against loss, policies could be acquired for harm to a car,to a home,for medical expenses,or for loss of life, Insurance provider provide insurance coverage quotes for you to potential customers to disclose the costs and terms of getting insurance coverage from their respective business, In many cases,the higher the chances of damage,the higher expenses of the insurance coverage
What is a good source for finding information on common auto insurance terms?
One can find out what common auto insurance terms mean by asking and auto insurance salesman or by looking them up in a dictionary. One would have better success by asking the salesman.
What does it mean loss history on insurance policy?
Loss history refers to the claims you have had in the past wether on that property or another.
Do you pay taxes on hazard insurance pay out?
You mean a casualty insurance payout? The amount that is for the loss of property is not taxable - as long as you didn't (and don't) claim a casualty loss on it for tax. (The payment means you have no tax loss).
What does effective policy date mean?
The Policy effective date is the date that your insurance coverage started under that policy.
What does comprehension mean in auto insurance?
It is other than collision insurance. It covers hail, stolen vehicle, hitting an animal, and vandalism.
What does each occurrence mean in liability insurance?
An occurrence is a loss, or a claim filed on the policy.
What does loss payee mean on a auto insurance policy?
The loss payee is any entity that has financial interest in the vehicle (usually a financial institution) that notifies the insurance company and the policy holder of that interest in writing. Any entity can be a loss payee, including your father, if he can show financial interest. The loss payee is usually the finance company that holds title to your vehicle. In the event of significant damage to the vehicle the loss payee needs to sign off on the check from the insurance company for the damage. This usually happens after the damage has been repaired. In the event of a total loss the loss payee will be sent a check for the amount of the loan and anything left over will you to the insured. Hopefully you won't owe more than the car is worth in the event of a total loss.
What does the term title insurance mean?
The term title insurance means insurance that covers the loss of an interest in a property due to legal defects and that is required if the property is under mortgage. Most title insurance is lender's title insurance.
