Your own liability insurance will never pay for the damage to your property or for your medical expenses. Your collision insurance pays for damage to your property, if it is your fault. Your Uninsured Motorist Insurance or Underinsured Motorist Insurance pays for damage to your property if caused by someone else who is uninsured or under-insured.
Your liability insurance will pay for the damage to someone else's property or for someone else's medical expenses, if it is your fault.
Someone else's liability insurance will pay for the damage to your property or for your medical expenses, if it is their fault.
As long as you have the title that he signed off of it and you signed on and you have insurance on the vehicle it will be covered.
It does not pay for your vehicle. You would have to have collision insurance. In a one vehicle accident, liability only would come into affect if you caused damage to another person's property.
In California it is normally necessary for you to currently have comprehensive and collision coverage in place at the time of the accident for your gap insurance to take effect.
Not unless you have the new option in insurance of the new car replacement. If your car is totaled, you will be paid the Blue Book price for your vehicle. This sum is the amount your vehicle is worth at this time. Any amount over this sum that is still owed to a car loan is still due.
Absolutely. Even if you pay cash for the vehicle you will need to prove that you have liability insurance in order to legally drive off the lot. If you are financing the vehicle you will have to show that you have liability and physical damage coverage before driving off the lot. The dealer will contact your insurance agent to verify that the coverage is in force and will add the vehicle to your policy with the coverage that they require and that you want.
You are required to have at least Liability Coverage for the vehicle before ytou drive it off the lot!
Your insurance will only pay off what the blue book value of the car is, whether that's enought to pay off the vehicle is unknown to me. If you owe $7k and insurance says the car is worth $5k you owe the $2k difference.
Yes, if your insurance company will not pay it all.
Usually workers comp is less than the Liability Insurance. The Liability is based off of the gross receipts where as the workers comp is the number of employees and their hourly rate.
I assume you are talking about a vehicle that was totaled. Depending on your state's laws, you may be able to get something like a salvage title or similar. Basically it is a title that allows you to register the vehicle but you cannot pass it off to a buyer as a clean title vehicle. This can be fine for a project car or a personal vehicle but will decrease its value for resale.
If the object came off the other vehicle there liability coverage will pay for the damage. If it came off the road and was just kicked up by their vehicle then they are not liable for the damage. In that case it is called road hazard and would not be covered by the other parties insurance. Your insurance will pay for it if you have physical damage coverage on your vehicle.
In California, anyway, you need full insurance coverage on a car the whole time it is financed. After its paid off, you can drop a bunch of the coverage and just carry liability.
Liability, certainly. Comprehensive and Collision might not be worth what you would need to pay since they would only give you a fraction of the value of the vehicle if you were in another collision and the vehicle were to be written off again.
Only if you carried GAP insurance will it pay off what you owe to the Lienholder. If not then they will only pay what they valued your car to be worth which may or may not be enough to pay off the loan.
There are seven types of car insurance. Liability insurance covers the cost of repairing any property damaged in a crash, as well as medical bills. Collision insurance makes it so then insurer pays for repairs. Comprehensive insurance handles any situation, including theft. Uninsured motorist protection is a policy that covers damage by an uninsured motorist. Medical/Personal-injury Protection covers costs of injury. No-fault insurance covers property damage and injuries no matter who is at fault. Gap Insurance is for driver's who still owe money on the cars and need to pay off the vehicle if it is totaled in an accident.
If the car is paid off, then only liability insurance is needed. If it is not, then you will need a full insurance coverage plan.
No, That's what Auto Insurance is for.
a dealer should have a bond. The coverage on the vehicle is like having a liability policy. If the dealer was driving the car and had an at fault accident, he will have to pay for repairs on his vehicle and the bond will cover the other persons car. Once you buy a car from a dealer, you are responsible for purchasing insurance for the vehicle, the dealer is no longer liable. In fact, the dealer should require that you have insurance before you drive the vehicle off the lot.
No, simply because there is nothing to be insured any more, your car is gone.
Yes. Off road vehicles do not require insurance.
Without liability insurance, should there be any accident on the property, the association will be liable to pay for defending the claim, and potentially the claim for damages.Often the trade-off between liability insurance premiums and the hourly rate for defense attorneys indicate the it's less expensive to pay the liability insurance premiums.Your governing documents will help you define your requirement as an association insofar as carrying liability insurance is concerned. Usually, carrying it is mandatory.
That depends on what insurance coverage you have. If you bought only the state-required liability, NO. If you have full coverage you will get the book value of the car minus your deductible. If you have a loan on the car, this will probably not pay it off and you will still owe the remainder unless you also purchased "gap" insurance. Gap insurance will cover the remainder of the loan except for the deductible.
If you accept payment for the vehicle then the insurance company will own the wrecked car, rims and all. It's worth inquiring though, they may make some allowance in the offer they make if you keep the rims.
It depends. if you have GAP insurance, the insurance company will pay the payoff amount. If you do not have GAP insurance, it is the holder of loan's responsibility to pay off the complete open loan regardless of the amount paid by the insurance company.
In state of Michigan, you can only have liability coverage if your car is paid off. Otherwise, you will have to purchase a full coverage policy.