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One needs a 3rd party insurance coverage to cover for damage for vehicle or property. This kind of insurance covers injury of others, including passengers in the car.
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∙ 10y ago
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Why would any small business need health insurance coverage?
A small business would need health insurance coverage to offer peace of mind to the owner and workers as it means if something happens they are covered and do not need to worry about expensive hospital bills.
What insurance company would sell liability insurance for net metering?
Contact an agent in your area, if they do not sell this type of coverage they will be able to direct you to an agent that does.
Does my son need Work men's Compensation Insurance coverage in my sole proprietorship business in California?
Forget he is your son. You must treat him like any other employee you would hire in respect to insurance coverage requirements. <><><> California law requires any business with even ONE employee have Worker's Comp insurance. If your son is an employee of the business, then yes, you need it.
Can another party purchase a contract from a Life Insurance Company on you without your knowledge?
Likely not, as they would have to show a reason for insurance on you. Otherwise, you could buy insurance on all your neighbors, and just collect as they pass on. The party would have to show a financial need to collect money upon your death (spouse, business partner, and the like).
No homeowners insurance on property occupied 13 years what company will issue you a policy now?
It depends greatly on the condition of the property. Any carrier will have an inspection conducted to determine the risk factors associated with extending insurance coverage. So take the stand point of an insurance company and decide if you would insure the property in question. If you would there is a good chance you can find coverage. Please note coverages for an unoccupied dwelling are often less comprehensive.
What is the third party carrier?
when an insurance company(x) does not have particular coverage(ex:Earthquake coverage) then they would cover those coverages with the help of another insurance company(Y) by paying a certain percentage of premium to that company(third party carrier) and provides that coverage to their customers. Here Y becomes a third party carrier
When applying for insurance what does two-party mean?
You may have misconstrued the words. With respect to property and casualty insurance, there are the concepts of first-party coverage and third-party coverage. First-party coverage is that which you obtain to protect your pwn property. An example of this would be the collision coverage on your car, which pays to repair the car irrespective of whether you or another person damages it. Conversely, an example of third-party coverage woukd be liability coverage. This pays for the damages of a third party (property damage or bodily injury) if you are found legally liable for the damages. All of that said, if what you really mean is that someone used the term "two-party" to you in applying for insurance, my best assessment would be that you and another person are insured under the same policy. Since you posped this question in the health insurance category, it may mean that you and a spouse are insured under the same policy, which would not be uncommon. If you can provide further facts, I'd be pleased to further clarify.
How does full coverage insurance work for hit and run with no secondary party?
you would have to claim it on your own insurance.
Does liability insurance cover you from an uninsured motorist?
No. Liability insurance protects you from claims by third parties if an occurrence is alleged to be your fault and the third party claims compensable damages. It indemnifies you (pays damages on your behalf), and provides a defense (hires and pays an attorney at its own expense-if it wishes to contest liability or damages). A liability insurance policy is triggered only if the allegations made against you arise from a type of risk contemplated by the policy--for example, an auto liability policy will not apply to a trip-and-fall claim made in a store that you operate. Uninsured motorist coverage is a different coverage. It pays to you the same kind of damages, based upon an assessment of relative fault and seriousness of damages, that the at-fault party's liability insurance would have paid if that person had liability insurance. It generally applies to only bodily injury damages-not property damage. A useful paradigm by which to think about it is that liability coverage is "third-party" coverage (pays to injured third parties based upon your fault), whereas uninsured motorist coverage is "first party" coverage which you maintain as a source of compensation for yourself if the at-fault has no bodily injury liability coverage.
What is third party only Insurance cover on a vehicle?
Third party insurance, is also called liability insurance. This type of insurance does not cover you per say, but it covers others. When you are involved in an auto accident for which you are at fault, your liability or third party insurance will cover injuries and damages you cause to others, up to your liability limit. For example if you run a stop sign and hit another car, your third party insurance would cover the injuries, medical expenses, and property damage of the car you hit. You have a limit of third party insurance which is outlined by your policy and determines how much you pay for insurance. Each state and province has their own laws, but most require that you have a minimum amount of liability insurance. This is to protect all drivers because if the damages of an accident exceed your liability amount, you will be required to pay the difference, which can end up being several thousand dollars. Therefore it is recommended that you increase your third party liability above the state minimums. If you want your vehicle covered, you need to get comprehensive or collision coverage.
What if your car is stolen and you have third party only cover?
I think you are not covered. Third party insurance only covers you for damage to other peoples cars. If you have third party, fire and theft then you would be covered.
Can an insurance carrier subrogate against a third party that caused damage to their insured's vehicle if the third party already paid the vehicle owner's damages?
No. That would mean the third party tortfeasor would pay twice, which would amount to unjust enrichment.
Is a third party involved in public transport covered by the owners liability insurance?
An injured claimant is often a third party to the insuring contract, So the answer would be yes.
What would result from under-coverage?
If you didn't have enough coverage then the insurance company would just pay out the policy limits and generally the other party would ask you to pay the difference.
What happens if a guilty party cancel their car insurance after a claim has been submitted?
It would make no difference as long as they had coverage on the date and time of the accident. They can cancel the policy after the accident and coverage would still be provided.
Does your liaility insurance cover you if your car catches on fire?
No. Liability Insurance or commonly known as Third-party Insurance does not cover damages against fire for your own car. If you want coverage against fire for your own car, you should opt for a Comprehensive Car Insurance Policy as this policy offers all-round protection to you and your car.
How do you write about anything as a third party?
I would be first party, you would be second party, he or she would be third party.
