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No. Liability pays for damage to other party's property when you are At Fault.

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โˆ™ 2005-11-29 06:25:17
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Nutrition

23 cards

If you were laid off and apply for insurance coverage on your wife's group policy do you have to answer a medical questionnaire

How many grams of cholesterol should you eat each day to maintain a healthy diet

What would cause a fluttering inside the ear canal

Why is beef fat a solid at room temperature

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Related questions

What the meaning of liability?

The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law., That which one is under obligation to pay, or for which one is liable., the sum of one's pecuniary obligations; -- opposed to assets.


Does insurance pay for your car if it burns you?

Kind of an odd question. If you get burned from something on your car, that isn't caused by a mechanical fire , I doubt if your insurance company would pay you anything. Their liability is for accidents and damages done to other cars in traffic accidents. You need to provide more info for a better answer.


Who is at fault for insurance purposes if the driver you hit has no license and is charged with hit and run for leaving the scene?

If you caused the accident, you owe for the legal liability, the other matters are civil & not involving the liability portion of the insurance. They still have a duty to pay.


What insurance is the most important for small businesses?

The most important insurance that a small business can have is public liability insurance as accidents can happen and this is the most common accident that will happen that will result in a pay out.


Does medicare pay for accidents?

No, Medicare is not accident insurance. However if you are a qualified medicare recipient then it will cover the cost of health care in treating those injuries that resulted from an accident. It will not pay though for financial loss or liability damages resulting from an accident.


What do you mean by internal and external liability of the company?

internal liability mean that company will pay salary, so salary is internal liability, and the company will pay interest to bank it is external liability.


Is interest due during a tax dispute?

It depends upon the result of the dispute. if the liability to pay tax is confirmed on an appeal, interest accurues even during the period when the liability is in dispute. Because the liability to pay is there before the dispute and after the dispute. If the liability is deleted on an appeal, there is no liability to pay tax before the appeal and after the appeal. When there is no liability there is no interest there upon.


If you accidentally hit your wife's car with your car and both vehicles are insured on the same policy will you have to pay two deductibles or will it be treated as a single accident?

You need to check with your agent. In some cases, accidents involving relatives are not covered.


You scraped up and dented one of your car doors on a utility pole in the parking lot Purely a matter of appearance but you will have car for a long time Do you pay out of pocket or use insurance?

In this situation, it depends on whether your insurance covers accidents not involving a motor vehicle. If it doesn't, you will have to pay out of pocket.


Is accounts payables a part of an asset or a liability?

When company purchases supplies from vendors they are require to pay them at the same time but instead of paying them out immediately they got the time to pay in future so it is the liability of the company to pay them that;s why accounts payable is liability and not the asset.


What can you do if you have liability who was hit by someone with liability insurance?

If you have liability for an accident, you will need to contact your insurance company. If you do not have liability insurance, you may need to pay for the accident out of pocket.


Will your insurance pay if the accident is your fault and you only have uninsured motorist insurance?

If all you have is uninsured motorists then no it will not pay. you need liability insurance to pay for damaged caused to another. Liability is what your supposed to have.


Is accrued vacation pay belong to current liability?

No, it belongs to non-current liability


Can liability insurance cover fines and penalties?

If your asking will your auto liability insurance pay for a traffic citation, No. They don't pay for the illegal acts of the insured. Your auto liability insurance is accident insurance.


What is the difference between liability and medical coverage under homeowners?

Liability = Legal Obligation to Pay. Medical Expenses = Moral Obligation to pay.


What is financial liability?

If you have financial liability, they you have to pay money if something goes wrong. Liability means you can be held responsible and financial means money.


Will homeowners liability pay for accidents involving pets?

Some Will and Some will not, depending on the type of damage claim. You should review the terms of your policy or contact your agent for clarification. Many insurers are now excluding coverage for personal injury as well as property damage caused by pets as one can reasonably presume pet damage to be "Normal Wear and Tear". and expectedly incidental to pet ownership. Normal Wear and Tear is also excluded from almost all property insurance policies.


Does auto insurance pay for accidents that were due to illegal activity?

No they do not pay for such claims.


Decrease an asset account and decrease a liability account?

if you have a asset and you sale it and then money which you get pay as a liability so decreas in asset and decreas in liability occurs.


How do you use liability in a sentence?

The injury made him a liability to the squad. Liability insurance will normally pay claims by other drivers if you have an accident.


Is vacation pay an estimated liability?

Yes, Vacation pay is an estimated liability, You do not know when the employee will take vacation or if the employee may have received a raise between now and then. You do know however that the employee will take vacation and that in itself is a liability expense.


Is a dividend an asset or liability?

If you receive a dividend from your investment, it is an asset. If you pay a dividend to those who invested with you, it is a liability.


Does liability pay for injuries?

It should to others, but if you have liability only, you may have only the minimal coverage req'd.


Should I pay for my kid's insurance?

No, you should make your teenager pay his or her own insurance if they get into quite a few accidents. Making them pay it on their own will hopefully make them learn to be more responsible and also drive better once they realize how high the insurance can be from getting into so many accidents even if the accidents aren't their fault.


Why creditors are laibility?

Any money you owe to someone else is a liability to you and an asset for them. You have to pay (liability) and they get to receive (asset).