The concept of a "primary policy" can best be understood when there exist two or more insurance policies that arguably provide coverage for the same occurrence. The "primary insurance" is the policy that is first responsible for the payment of claims.
A good example might be when a state requires that the owner of a motor vehicle to maintain what of often called "personal injury protection coverage" (a/k/a "no fault coverage"). That type of insurance pays a percentage of the injured insured's medical expenses and/or lost wages regardless of fault for the collision. If the injured insured also has major medical or hospitalization insurance, a primary/secondary insurance scenario develops. State statutory law or interpretative case law will dictate which is primary and which is secondary, but typically, the coverage specific to the occurrence (e.g. the auto-related insurance) will be primary until benefits are exhausted.
Primary/secondary insurance situations may also develop when insurance is required to be maintained by the terms of a contract between two or more parties. Often, the contract specifies which (or whose) insurance will be primary.
Yes
An excess insurance policy is one, the coverage of which, sits "atop" the primary policy. That is, the excess policy provides additional indemnity benefits if or when the primary policy limits are exhausted. In general, the primary insurer has a duty to settle a claim within its policy limits if it is possible to do so so as not to subject the excess policy to exposure. Normally, the excess insurer will track the underlying litigation to ensure that this is done. It may have a cause of action against the primary insurer if the primary insurer does not do this and the excess insurer is called upon to pay the claimant.
Medicare
Depends on the rules and the policy provisions. Do you have proof you asked the broker to cancel the policy?
president
Price stability
primary and secondary
Primary and Secondary
The individual policy is always primary.
The policy with the broadest scope of coverage is primary. The other policy with less coverage would be considered secondary and does not invoke until or unless the coverage from the primary policy is exhausted.
Your premiums could be affected, Talk to your insurer and find out because every insurer is different on situations like this.
Is he really the primary driver? Who's name is the policy under? Generally being the holder of a policy makes YOU the primary. Check with your company.