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What is the maxium amount an insurer will pay for total loss of property?
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What does an insurance company do with salvaged personal property?
If an insurer pays for the total loss of personal property, including a car, it usually becomes the owner of the property as part of the resolution of the claim. The property is then sold so that the insurer may recoup some of its loss. There are some entities, such as scrap metal companies that deal in that kind of property. Under some circumstances, the insured wishes to keep the property. That can usually be negotiated, but the payment to the insured on the claim may be adjusted accordingly.
What do you call a persons total amount of money?
i think its "property"
Auto insurer refuses to pay full amount of at fault accident?
There could be a couple of reasons why the Auto Insurer is refusing to pay full amount of at fault accident: a) There would be a deductible condition in the policy - which would mean that you will have to bear or pay the deductible amount out of your pocket. b) If this is the claim amount for the vehicle - it would be a part applied to depreciations of the vehicle. c) If the claim is above the total coverage (limit of Liability) the insurer might have paid his share up to this limit and so you would be responsible for the amount which is above this. Remember that the insurer would not refuse to pay you once he has admitted liability unless it is not payable as per the policy condition. Please go through the policy conditions and asked the insurer for his reasons of non-payment.
What is the total amount of tax due on a property with an assessed value of 315200?
$16,926.40
What is the total amount of property that Mukesh Dhirubhai Ambani holds?
59000 caror
What is the total amount of tax due on a property with an assessed value of 315.200 when the property tax rate is 53.7 mills?
$16,926.24
What is the Concept of a Retention Limit?
The maximum amount of insurance an insurer can retain before ceding business to a reinsurer. The maximum amount may depend on the insured's age, health, coverage in force, as well as the insurance company's financial condition. An insurer cannot retain a risk exceeding 10% of its surplus to policyholders. However, it may write insurance on a risk exceeding this amount if it enters into a reinsurance agreement or treaty with another insurer who agrees to insure the portion of the risk exceeding the retention limit. In the event of a total loss, the insurer would pay the portion of the claim up to its limit and the reinsurer would pay the rest.
What is the lowest amount of individual property insurance coverage that I can have when I own a home?
The lowest amount of individual property insurance that you can have on your home is the amount outstanding on your mortgage. Your mortgage lender will require that insurance be in force for the amount you owe them or more. That way in case of a total loss, the lender recoups its losses.
What is the total numberof electrons that canoccupy the third energy level?
the maxium number of electrons that the third energy level can occupy is 18
Are you legally required to accept a salvage title for a car that insurer says is total loss?
No you don't
What are the problems associated with the issuance and renewal of insurance policies?
Problems in claiming on your insurance policyYour insurer will not pay out the full amountYour insurer may agree to pay your claim, but not the full amount. This may be because:- you have under-estimated the total value of your possessions when you took out a household contents insurance policy and do not have enough insurance to cover your lossesyour insurer thinks that you have put an unrealistic value on the contents of your house, and will only pay you part of the claimunless you have a 'new for old' policy, the item for which you are claiming was old, and your insurer will pay you less than the cost of replacing it with a new item. This is because you have already had some use from it.
Should an exgratia paymwent be recovered by the insurer if the insured has received any other form of compensation?
if the compensation amounts to the total loss suffered, it can be recovered. Can amount to unjustified enrichment. Insured is to be placed in same position as before the loss and not in a better position.
