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What is Carve back in insurance terms?

In insurance, a "carve-back" refers to the reinstatement of coverage for certain risks or liabilities that were previously excluded from a policy. This can occur when an insurer agrees to provide coverage for specific events or conditions that were initially omitted, often in exchange for higher premiums or additional terms. Carve-backs are typically negotiated to address unique client needs while still managing the overall risk for the insurer.


Can you get your deductible back when your auto insurance is subrogating?

Yes. In many cases your insurance company may waive your deductible if the third party's insurance company accepts liability.


What does the finance company do when a car is totaled and there is no collision insurance?

If the driver was uninsured or only had liability insurance, they would be liable to still pay the finance company back or face a lawsuit.


What does Excess Liability insurance cover me for?

Excess liability coverage is designed to cover drivers who may have been involved in an auto accident and the injuries or bills exceed the insurance policy. It's kind of like your back up amount and can give you a little extra cushion and coverage.


Can car insurance company sue you for not enough property damge insurance in louisiana?

The question is not altogether clear, but it seems to relate to the insurance concept of "subrogation". This is an equitable process by which. when an insurance company pays the claim of its own insured, it "inherits" the right to pursue the wrongdoer (presumably, you) to collect back what it paid. If the wrongdoer had some liability insurance, but not enough to cover 100% of the other insurer's claim, it still has the obligation to try to settle the claim "within policy limits" (meaning, to compromise the claim), if it is possible to do so so that you are not exposed to personal liability for the excess. Keep in mind that if you deny fault for the occurrence, your liability insurer normally still has the right to pay and to settle the claim as the insurance policy notmally gives the insurer the right to "control the defense".


Does liability insurance cover fires?

Liability insurance covers the insured against the claims of others. For example, your neighborhood kid wanders in your back yard, falls into the unguarded/unfenced pool and drowns. Or your mailman gets severely bitten by your "sweet dog" that hurt a fly! Fires are covered by property insurance, such as a dwelling's fire or hazard policy.


How old does your car need to be to qualify for liability insurance?

How old the car is has nothing to do with it. The only time a car is REQUIRED to have FULL COVERAGE is when a car is being financed. In other words, a bank gives you a loan. Why? Because liability only fixes the other persons car, and if you get in a wreck, the bank will never get their money back from the car. I have owned ~5 cars in my life, financed one, and had full coverage insurance on it. Every other car has been liability only. So again, the age of a car has nothing to do with qualifying for liability insurance. If its being paid for with a bank loan, you need full coverage, if the car is paid off, you can get liability.


What did people carve on obelisks?

Egyptians back then carved hieroglyphics on obelisks.


Do you have to insure a car if you dont drive it on the public streets?

If the vehicle has a leinholder, regardless where you drive it, it has to have full coverage insurance (or able to show financial responsibility). This is due to anything can happen and the leinholder wants their property covered. Whether a tree falls on it, it slips out of gear, etc. With vehicles that do not have leinholders, it is not a requirement to hold full coverage, but it is law to have liability insurance. Liability insurance is not insurance on the vehcile but on the individual, in case the individual causes harm or damage to another. Alot of people misuderstand, that concept. you can back up and bump someone damage their car or hurt them, that is what liability insurance is for. It is required by law, anytime you operate a vehicle whether on a public street or not.


Can you claim poor workmanship on home owners insurance?

No. You can't claim poor workmanship on any kind of insurance, even the contractor's liability insurance. Poor workmanship is remedied by having the contractor come back out and re-do what was messed up in the first place. A contractors work product is specifically excluded from insurance if you read the exclusions.


What is the average cost of liabilty insurance?

Business Liability Insurance costs vary from State to State. Your costs will depend on what type of business your in and the size of your business and a number of other factors. Contact a local independent insurance agent for a quote. If in NJ contact William J Zester, VP - MPPI, Inc. bzester@mppi.com


What if you purchased a car but didnt have insurance at the time and they gave you thirty days to get insurance but after the thirty days you still didn't have insurance can they take the car back?

Your car is not going to be repossesed because of your lack of insurance. However if you do not purchase insurance and provide a copy of your insurance to your lienholder, they will purchase it for you and send you a bill for it when you fianally pay off the loan. Keep in mind though, the insurance bought by the lienholder only protects the car from damage, it does not provide any medical coverage for you or your passengers, and does not provide and liability coverage if you are at-fault in an accident. Assuming you don't live in WI or NH you are required to purchase liability coverage to satisfy the state financial responsibility laws.