Auto Insurance

A grace period for the payment of premiums would be set forth in the insurance policy itself, as it is a matter of contract. Since insurance contracts are regulated by the State, the Department of Insurance would normally have ensured that the terms of the policy complied with any governing statute on the subject.

If there is a correlation between coverage duration and frequency of payment, it, too, would be set forth in the policy. In general, though, a monthly premium would normally correlate with a month of coverage, whereas, for example, a premium that is payable quarterly would normally correlate with three month's of coverage.

Naturally, the continued existence of coverage depends upon receipt by the insurer of the specified premium when due (inclusive of the grace period). Most often, a policy is issued for a term such as six months or a year. The premium payments may be extended over the whole or some part of that term. The policy will usually be subject to cancellation if premium payments are not made as agreed.

No, they don't offer roadside service. I locked my keys in my car and they said they could reimburse me up to $75 for a locksmith by sending them the receipt, but they don't have roadside.

The backing car is at fault

If the insured vehicle had collision coverage, the most direct route by which to have the damages taken care of would be by making a "first-party" claim against your own insurer. If you did that, you would be responsible for the payment of the deductible. When the insurer pays for the repair of your car, it acquires the right to pursue the wrongdoer to get its money back; that process is called "subrogation". More often than not, the insurer also attempts to recover your deductible.

Collision coverage is not usually mandatory unless the car is financed. In that case, the lienholder probably will require it if only to protect the value of the collateral on which it has loaned money.

If you had no collision coverage, you may file a lawsuit against the owner/driver of the at-fault vehicle. If the driver was using the vehicle with the owner's express or implied permission (assuming that they are different people), both parties are potentially liable and you would be able to seek recovery from both. That is, although you could only recover your damages once, recovery could be had from the driver, the owner, or some combination (called "joint and several liability").

The suit would be to recover the cost of repair and other damages that may have been incurred (such as reasonable rental expenses, loss of use (if there was no replacement car rented), towing charges, etc). The court in which suit would be filed depends upon the amount of damages. It is always a good idea to see if the other party is willing to voluntarily settle the claim, as it never a certainly how a lawsuit will turn out, or whether, even if you win, you will be able to collect.

If you have to file a lawsuit, it would likely be based upon a legal theory called "negligence", which essentially means "carelessness". In Florida, which adheres to the theory of "comparative negligence", your damages will be reduced depending upon how much negligence is attributed to you (if any). Therefore, your realistic assessment of the degree of negligence of you and the other driver will be among the factors in determining how hard you press the claim and when or if you compromise.

Assuming that you are referring to liability insurance, the general answer, subject to the law of the jurisdiction, is "Yes". This presumes the legal, provable damages exceed the policy limits, rather than a claim made at the "I want" stage of things.

A factor that is important to remember is that a liability insurer has an obligation to resolve a claim on behalf of an insured within the policy limits if it is all possible to do so. This generally translates into a scenario where, if the claimed damages may reasonably be expected to exceed policy limits (for example, if the case goes to a jury), but the claimant is willing to accept policy limits in full settlement and release the insured from further liability, the insurer has an obligation to settle within limits. By so doing, it is protecting the insured from individual liability for an "excess" verdict, and is fulfilling its duty of "good faith".

Many States have statutes (written laws) that provide a process by which an insurer may be held liable for an excess verdict. If it is shown that the insurer did not act in good faith by settling within policy limits when it had the opportunity to do so, the insurer may be held responsible for amounts in excess of its policy limits. Those amounts may include the full amount of the verdict, damages to the insured that proximately flowed from having the excess verdict/judgment entered (such as damage to credit), attorney's fees, and depending upon the jurisdiction, other categories of damages.

No. Consider the case of roommates who each own their own car and do not drive the other person's car; there's no reason for them to be insured on the other person's policy just because they live in the same house.

The policy may technically remain in force until the expiration date.

However, many homeowners insurance policies require that the house be continuously occupied in order that some coverages remain in force. Such policies generally specify the period which a house may be vacant, but yet considered to be continuously occupied. This takes into account, for example, extended vacations, or periods of vacancy while the owner seeks a new tenant.

Therefore, if a claim arises after the owner's death, and the house has been vacant for a prolonged period time, the insurer may have a basis for denying payment of the claim.

It is illegal to drive a car that is not insured for at least third party cover (i.e. if you hit someone then they - but not you - will get paid out). Therefore if the car is not covered on an insurance policy that YOU have then to drive it you would need to be covered on someone else's insurance. Some people hold insurance policies that allow anyone (with permission from the owner) with a valid license to drive the car and in this case you would b covered on this policy - many company cars have this sort of policy.

It is you DUTY to make sure that you/the car has as covering policy before you drive it and that you can PRODUCE this policy for the police should they require you to do so.

Generally not, as motor vehicles are usually expressly excluded from the scope of coverage of a homeowner's policy.

However, the comprehensive coverage on an auto policy may very well cover broken windows, at least if it was broken due to a covered cause of loss. In fact, if it is the windshield that was broken, many States have statutes that prohibit insurers from applying the comprehensive deductible against the cost of repair or replacement.

Depending on your provider ages can range from 18-25 providing that that child still live at home or is in school. Best to call your providers general information number on the back of your insurance card and ask them or call your local agent.

It's not the owner of the vehicle's fault because if that person got in an accident there is nothing the owner could do. If this happened to you, the person borrowing should pay the bill.

The same as any other loss. Damages and repair costs are assessed and if determined a total loss the vehicle value is paid out. Lien-holders take first place on the payout.

You call them up, fax them or write them a letter and cancel your policy let them know the date you want it cancelled and don't pay beyond that date.

Yep. if they did the damage.

You can probably get her insurance to fix the problem. How you go about it depends on local law.

In this state if you have homeowners insurance, you call your own insurance company. They come out and make the adjustment. They take it up with her company.

In other states, you would take it up with her insurance company. I do not know the laws of all 50 states in the union as well as those of all nations in the British commonwealth.

Call your own insurance agent and ask how to proceed.

Auto insurance will cover the theft of your vehicle if you maintain comprehensive coverage. Comprehensive coverage is generally sold in conjunction with collision coverage. However, unless there exists a lender that requires collision/comprehensive coverage, it is usually not mandated by law as it is considered "first-party" coverage (designed to protect the owner only). Comprehensive coverage also applies to the theft of belongings in the vehicle if they were permanently affixed to the vehicle. For example, if you have an after- market stereo system and sub-woofer that is stolen from your vehicle, it is covered under comprehensive coverage. However, if you leave your purse in the car and it is stolen, it is not covered because it is not permanently affixed to the vehicle.

Yes and No. No insurance company will ever insure an un-licensed driver. However, if a non-licensed driver is in an accident, where not at fault, with another driver who is insured, that insurance may still cover the injuries of the non-licensed driver. This is very tricky, though. Some states have a type of fault where if you were partially at fault for the accident as well, you may have your damages reduced by the % you are at fault; other states will determine that if you are 50% at fault, you get nothing. So, if a state were to determine that you being un-licensed to drive was worth 50% of the fault (that is, you should never have been there for the accident to occur at all), you might not get any coverage whatsoever. So, it depends on whether or not (and to what extent) you were at fault, and what your particular state's policies are for liability.

I have a 2003 Hyundai Elantra GLS Sedan with 81,000 miles on it. Because the value of it is fairly low ($2750 KBB avg. trade-in and $2,600 NADA avg. trade-in) I am considering dropping my full coverage.

My premium is $304 every 6 months, with a $500 deductible.

I got a quote for dropping full coverage. To maintain the legal requirements for liability insurance I would still have to pay $182 every 6 months.

Progressive bases their totalled-out cars on Actual Cash Value, which I'm assuming to be similar to average trade-in for the books.

What do you think? Is it worth it to drop it?

That depends on the insurance that you and the friend have. Your insurance may cover your son in any vehicle. Same as with the friends insurance covering any driver. You just have to call and ask.

Your auto policy will state that you have to list all residents in the home as well as any regular drivers of your vehicles. The only way the insurance company may allow you to not list the driver is if you agree to sign an exclusion which is an amendment to the policy where both parties agree that if the excluded driver is operating any of the vehicles then no coverage is provided for the vehicle is any manner. I always caution my clients about signing exclusions because that means they can't drive for any reasons including emergencies, backing it up in the driveway, etc. Besides it is usually cheaper to put the teen and their vehicle on the family policy so they will get multi-car discounts and all the other discounts. If they are on the family policy they are also covered driving any of the vehicles in the house. From the insurance company standpoint since they are able to drive any vehicles with coverage they must get an exclusion signed because they aren't getting any premium just because the teen has his own policy with another company.

An insurance deductible is a way for the insurance company to share a risk with the policyholder, and to reduce the premium payment required. By buying a policy with a $500 deductible, the policyholder agrees to be responsible for the first $500 of any covered loss. The insurance company is insuring only those losses exceeding $500, so they charge less for the premium. Most claims will be less than $500, or not much over, so their risk is reduced.

You can usually buy a policy with a smaller deductible, or with no deductible at all. You will find those policies are considerably more expensive, as you're asking the insurance company to assume a greater risk. The general rule is that your deductible should be the largest amount you could cover with your own funds, should a loss occur. If you buy a collision policy for your car with a $500 deductible, and the car is destroyed, it will cost you $500 to replace it--the insurance company will pay the rest. So long as you can lay hands on $500, you know you'll have a car to drive. If you get through the policy term without the car being wrecked, you get to keep your $500, and the money you didn't pay for a higher premium with less risk.

It depends on the location. Check with your local PacLease Franchise as they each handle insurance a little bit differently. All locations have insurance that you can purchase for the duration of the rental, however the rates and deductibles can vary as well.

the excess is how much you pay, anything over that is paid by the insurance company. So for a 1000 pound billyou would pay 500 and they would pay 500

All other things being equal, if the loss comes under the comprehensive coverage of her policy, and is not otherwise excluded, the insurer would pay $650.50; she would be required to pay $100. Keep in mind that comprehensive deductibles and collision deductibles are sometimes different. Therefore, it is important to be sure of which coverage is involved.

Glass claims are usually covered under the comprehensive coverage. Many States have statutes that prohibit insurers from applying the policy deductible to the repair or replacement of a windshield if that is what is involved. Therefore, the law of the State should be consulted.