Cannot be answered here - that information should appear in the contract language of the policy.
Generally, however, the insurance agent will take a deposit premium for the anticipated first month's premium at the time that the application for coverage is taken.
The application is essentially an offer to purchase insurance. The insurance company than analyzes the answers given on the application application in accordance with its underwriting guidelines. Those guidelines lay out the types of risks that the insurer is willing to accept and for what price (premium).
If a policy is issued (because the insurer is willing to accept the risk as identified in the application), a policy will be issued. The front page of the policy is called the Declarations, and will show a summary of the coverage, as well as the due date and amount of subsequent premium payments.
If the insurer decides not to issue a policy for a reason that is not prohibited by law, the deposit premium will be returned.
No, only when you are required to have full coverage insurance and you dont, and the obvious that you do not make a payment.
Payment of insurance is nothing but the premium paid towards the insurance policy. The premium amount includes the charge of coverage per unit (for example, the charge of coverage for $1000 might be $10. So, to have an insurance coverage for $10,000 the charge of coverage would be $100) plus the expenses incurred by the insurance company for the policy.
Yes, you can. It's called Single Premium Life Insurance. With single premium life insurance coverage one premium payment is made and the life insurance policy is fully paid up with no further premiums required.
It depends on the type of insurance and the state. Health insurance coverage is required in Massachusetts, for example. Meanwhile, auto insurance is required in many states, but not in New Hampshire. It varies.
30 Days
Liability insurance
Yes, full coverage auto insurance is required for auto financing. This rule protects the bank if you have an accident.
The minimum amount of liability insurance coverage required (in California) is: 15/30/5. 15/30/5
If a motorist is injured by an uninsured motorist and the driver has uninsured motorist coverage the insurance carrier will provide coverage, if certain information is obtained on the uninsured driver. If a driver has Medical payment coverage or PIP coverage he or she and any passengers will be covered by the drivers auto policy Medical payment coverage.
Liability insurance is the minimum coverage you can get and is required in every state.
You have insurance coverage if you paid the premium required for that policy. The coverage will pay appropriate types of claims during the period of time of that policy.
If you put medical insurance on the policy when the policy was purchased.