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If one of your vehicles is leased and requires full coverage then do your other vehicles require the same amount of coverage?
There are 3 types of coverage on all car insurance policies. 1. Liability that pays for the damage you cause to others. 2. Med pay/PIP/Uninsured motorists that cover injuries in your vehicle. 3. Comprehensive/Collision that pays for your vehicle to be repaired. Coverages 1 and 2 are generally considered policy level and have to be the same on all your cars. Coverage type 3 is a vehicle level policy and can be different from car to car. You will be able to find insurance companies that will allow you to do different coverages on all your cars but don't look too long this isn't that important. Many lease agreements require higher liability limits of 100k/person 300k/accident for injuries and 50k/accident for prperty damage. The reason why the lease agreement requires higher liability, and a finance agreement does not, is because technically you are just borrowing a leased vehicle and if you cause an accident the leasor can be sued for the damage you cause. The way the protect themselves from that happening is by aking you to carry high liability limits to minimize that possibility. Regardless if you are leasing or not you should considering liability limits this high because the cost to do so compared to the extra protection is usually a very good value. EX, if you are paying $200/6 months for liability coverage of 25k/person 50k/accident you are essentially paying $4/$1,000 of coverage. Going up to the 100k/300k coverage will likely cost $250/6 months or $0.83/$1,000 of coverage. Keep in mind regardless of how much liability coverage you carry, if you cause more damage than what you have insurance for, you then become responsible for the rest. For category 3 you'll be expected to carry nothing higher than a $500 deductible.
What else can I help you with?
Auto Insurance Coverage?
Knowing how much auto insurance coverage is needed can save drivers on auto insurance fees in the long-run. Different states require different coverage amounts in areas such as medical expenses. Most insurance providers will automatically default to amounts at or above these minimums when providing insurance quotes. Whether or not drivers own or make payments on their vehicles also makes a difference on the amount of coverage required. Vehicles owned outright have more insurance options available for their drivers than vehicles still owned by the bank. Drivers can begin with the minimum coverage required and add on to that minimum as they deem necessary.
Do you have to have full coverage for gap to pay?
Yes, you do. GAP coverage covers the difference between the value of the car and the amount owed. That means that you are making payments on the car, which is financed, which requires full coverage, insurance wise.
Why is Auto Insurance Necessary?
Frequently, State law requires the maintence of certain types of auto insurance, such as certain levels of liability coverage. In other contexts, contracts require that coverage be maintained. An example of this is when money is loaned and the car serves as collateral, the lender will usually require physical damage coverage so as protect the value of the collateral.Car insurance provides financial protection in case you are involved in an auto accident. If an accident occurs, an auto insurance policy provides financial coverage to pay resulting vehicle damages, property damages, and/or medical costs. The amount of money the policy provides versus the amount of money you pay as premium will depend on the type of coverage purchased, the policy limits of each coverage, and the deductible (in the case of non-liability coverage, this is the amount that you pay out of pocket before the insurer's duty to pay is triggered).
Do you need liability insurance if you have a party in a school building?
Absolutely. And if the school system has anyone with intelligence they will require you to provide them with proof of such coverage in the same amount equal to their liability coverage amount. If this is a one time thing you can purchase a liability policy called special event coverage.
What does one get for donating vehicles to charity?
Donating a vehicle to charity usually results in a tax deduction. This requires proper documentation; the amount of paperwork increases as the value of the vehicle increases. Donations worth more than $500 require an IRS form 8283.
What amount of comprehensive insurance does the state of Texas require?
The law requires that people who drive to pay for the accidents they cause.
How much land does a horse require in Montana?
About the same amount of land as a horse requires anywhere else in the world.
Do homeowner insurance policies typically include flood coverage?
There is no requirement, but your mortgage company may require a certain amount of coverage that both policies will have to match.
What do different rates cover?
Each state has a requirement for "minimum coverage," which amount to liability: coverage for damage and injury caused by your vehicle. This coverage also protects you. Minimum coverage is only available for vehicles that are owned outright by the owner (and not financed). This site details the requirements of each state, of which insurance companies are aware. http://personalinsure.about.com
Does Ford have a breakdown assistance program?
"Yes, Ford Motors offers Roadside Assistance Coverage depending on the type of vehicle and the amount of miles (usually maxing out at 50,000 miles for vehicles older than 2006 and 70,000 miles for vehicles newer than 2007). They also have an Extended Service Plan if your current coverage has expired."
What are the condo insurance requirements for mortgage approval?
Condo insurance requirements for mortgage approval typically include coverage for the interior of the unit, liability protection, and coverage for common areas. Lenders may also require a certain amount of coverage to protect their investment in the property.
What does C4 plants require less of to produce the same amount of carbonhydrates?
It requires less water than c3 plants.
