Liability insurance only covers someone else in the case that you are responsible for damages caused in a collision. Comprehensive coverage will cover a driver that you hit, as well as cover yourself for any damages inflicted during a collision.
What are the definitions for liability insurance medical payments insurance uninsured motorist comprehensive and collision for auto insurance?
Liability insurance: The coverage found on any auto policy that treats harm you cause to another person’s property, either directly or indirectly with your car..
Medical Payments Insurance: Can be either Medpay or PIP. PIP — or “individual injury protection — is required in many states, and essentially treats your medical bills in an auto accident, regardless of who is at fault. (summary:will re-attach your fingers if chopped off in a accident).
Uninsured Motorist: Can be for either property harm or bodily injury, and essentially makes your carrier step in when the at-fault party is either uninsured or doesn’t have enough coverage to treat all your damages. Most people have UMBI (for bodily injury), and mistakenly believe it covers property harm to their cars as well. It doesn’t. (summary:will pay for your loss of income as you are an architect whos fingers were cut off and had to miss work for two months while in physical therapy).
Comprehensive: A voluntary coverage that, along with collision, constitutes “total coverage” on a vehicle. This is for “non-collision” type accidents, even when you collide with an animal. Essentially, it’s to protect your car when you aren’t at-fault for a loss. Includes coverage for hail, flooding, etc..
Collision: Another voluntary coverage, which treats collisions or overturns involving your vehicle. This is triggered whether you’re at-fault or not for a loss, in that it’s specific to your vehicle colliding with another object or overturning.
How do you determine when to only have liability insurance instead of also comprehensive?
If the value of your vehicle is so low that you can afford to substitute it yourself, don’t bother with comprehensive. It doesn’t make much sense to pay $Five a month for coverage on a $1000 clunker.
What does comprehensive auto insurance cover?
Comprehensive auto insurance covers theft, fire, vandalism, weather harm, riots, and other similar acts which may cause harm to a vehicle. Comprehensive auto insurance does not usually cover acts of God, theft or vandalism by family members or employees, contents of the vehicle, or harm due to improper maintenance. Comprehensive is Fire, Theft, and Vandalism (and also if you collide w/ an animal)
What is the law on auto liability insurance in Tennessee?
Tennessee requires “Proof of Financial Responsibility” which can be pleased by liability insurance with minimums of 25/50/Ten. Otherwise, a bond or other assurance of capability to pay damages is required. Proof is not required at the time of vehicle registration, but penalties are incurred if proof is not provided at the time of an accident. Proof is required regardless of fault, so all parties must provide it. Most drivers opt for insurance..
What is collision and comprehensive on an auto insurance policy?
I am a licensed insurance agent. Comp is if your vechile is stolen, or bruised by something other than a car which you will have to pay the dec. Coll is if you get into a car accident and say the person did not have insurance then your coll would kick in. But in most cases there property harm will cover you depending on the state. I am from Florida and it is a no falt state so it doesnt matter. You need to check with your agent and see your dectibable. I would suggest uninsured motorist just in case they don’t have insurance your medical will be paid. But that has nothing to do with the com/coll. hope it helped.Tammy
What are the differences inbetween liability rates inbetween different auto insurance companies?
There are too many differences to response that question. To many variables that affect premiums.
What does auto comprehensive insurance cover?
Comprehensive is Fire, Theft, and Vandalism (and also if you collide w/ an animal)
What is the insurance liability for the cosigner of an auto loan?
None. A cosigner is injecting into a legally roping contract to repay the debt if the primary borrower defaults on the lending agreement. The cosigner does not have any other obligation nor ownership rights tothe property.
What does ‘symbol age group’ on comprehensive auto insurance mean?
Companies use rating symbols for various things. Normally the vehicle symbol for comp/coll is based on the fresh purchase price of the vehicle. The higher the number the higher the insurance will cost. Some companies have their own symbols assigned to vehicles while most use the ISO (Insurance Services Office,Inc.) standard symbol.They also use your age in rating and you marital status in pricing auto insurance. A symbol will be assigned your vehicle when fresh and can go down over time depending on the replacement cost of the vehicle. For example ISO symbol for an Infinity M35 AWD is 22 for fresh cost but, 21 for a 2005 model. Another example is a symbol of Ten for some Ford Ranger pick ups while a symbol for most Mercedes are 27.
Did commercial general liability insurance substitute comprehensive general liability insurance?
There is no such thing as a “comprehensive” general liability policy. It is “commercial” to differentiate it from personal-lines coverage. It is commercial general liability policy, or CGL; a generally standard group of coverages, exclusions, boundaries. This is different than a manafest policy where commercial coverages are added in a customized style..
A comprehensive policy would be one where a business possessor (BOP) might purchase with a pre-set group of coverages, exclusions, and boundaries..
Actually, the term “Comprehensive General Liability” was substituted in 1986 with the term “Commercial General Liability.” They are essentially the same policies.
What is comprehensive auto insurance?
If you are in the process of quoting auto insurance, chances are the term comprehensive coverage has come up fairly often. Comprehensive auto insurance coverage is a coverage that will pay to repair or substitute your vehicle in the event of a covered loss up to the fair market value of the vehicle. Covered losses that fall under comprehensive include: fire, theft, vandalism, hail, and wind harm. Falling objects and hitting a live animal also fall under comprehensive. If you are financing your vehicle, you will be required to carry both comprehensive and collision coverages to sate lender requirements. The state does not require comprehensive or collision coverage.
What is public liability insurance and how is it different from general liability insurance?
General liability covers Public and Producs Liability, therefore by having General Liability cover, public liability is covered also.
IF I Cosign AN auto lease WHAT ARE MY insurance liabilitIES?
well your liablites in general…depends….you can be a ‘co signer’ and NOT an possessor ( i know this because i did this with our kids…on purpose) if you are a co proprietor you have the same liablity as the proprietor, (ins…if accident occurs and no insurance you are held equal with proprietor)….if you are a co signer and NOT a co holder you liablity embarks and finishes with the financial responsiblity of the note…(they don’t pay then bank/company comes to you to pay the note/lease)….
How much does liability auto insurance cost?
It depends on your driving record. I recommend you this site where you can compare quotes from different companies: mycheapinsurance.net
What is liability auto insurance?
Liability auto insurance protects you from judgments against you in the event that you cause harm with your vehicle. In Nebraska, it usually emerges represented in this way: 100/300/100. In that representation, 100 refers to $100,000 worth of coverage per person for Bodily Injury caused by your negligence, 300 refers to the aggregate per claim limit of $300,000 in Bodily Injury caused by your negligence, and the final 100 refers to $100,000 worth of coverage for property harm per accident as a result of your negligence.
Auto insurance liability?
Most of the auto insurance packages come with liability insurance included, since it is usually required by the law. The main purpose of the liability insurance is to provide compensation in case of an accident. In order to make things clearer for you, when you, for example, are involved in a car crash and you have liability insurance in place, the insurance company will pay compensation to the other side. You can also check out my related links for more information and examples.
What is the difference inbetween Comprehensive General Liability insurance and Public and Products Liability insurance?
The correct term is COMMERCIAL GENERAL LIABILITY. The term Comprehensive General Liability is a old term that was at one time used as well as Public and Products Liability. These terms are often used to mean the same ideal. Over the years the legal profession will contunuie to use them in a written contract. However it should be corrected to the correct term so all parties ar not confused. Often you may see the term voiced as COMMERCIAL GENERAL LIABILITY including products and ended operations.
Is there a deductible on comprehensive auto insurance?
Yes. Most insurance companies do have a deductible for this kind of insurance. Most deductibles are 500. This can be a normal charge for a deductible.
What is liability coverage on auto insurance?
This means that if the accident was your fault, your insurance will pay(up to an amount that is on your policy) for the other property and persons involved in the accident. Liability insurance does NOT cover your vehicle harm..
What does auto liability insurance cover?
Auto liability insurance is specifically designed to cover any harm caused to other vehicles if you have an accident. It does not cover reapirs to your own vehicle. It is by law the minimum requirement for insurance in every state.
Does auto comprehensive insurance cover rodent harm?
Evidently some do. I just had the same problem and Progressive covers it under my comprehensive insurance. The deductible applies. It was categorized as not at fault so no effect on premium.
Does auto insurance comprehensive cover water harm?
water harm is only covered through utter coverage if you have it and just so happens to run in a pond or something.
How is general liability insurance different from public liability insurance?
Technically, there is no difference inbetween the two, besides thefact that many of the public and product liability risks are oftencovered together under a general liability policy. These risks mayinclude bodily injury or property harm caused by direct orindirect deeds of the insured. You can read more about public liability insurance on the Bizcoverwebsite in related links
What is nonowner auto liability insurance?
This is a type of auto liability coverage that can be purchased when the buyer does not own an automobile. While auto liability insurance is typically said to “go after the car”, meaning that it correlates with a particular vehicle, non-owner’s coverage “goes after the driver”. In that sense, it covers the driver irrespective of the vehicle he/she is driving.
How does comprehensive medical insurance differ from basic medical insurance?
Basic medical insurance usually just covers things like Hospitalization. Whereas comprehensive coverage will cover your office visits, medications, surgery and hospitalizations. Of course, keep in mind that there may be deductibles involved.
What does liability auto insurance cover?
Damages to other’s vehicles, property, or persons in an accidentwhere you were foundat fault . In “no fault states” eachperson’s policy covers the other’s damages without requiringdetermination of fault.
Will auto liability insurance go after a driver if they steal an auto?
NO, All auto insurance policies specifically exclude coverage for accidents and claims that arise from criminal activity other than normal traffic violations. Auto theft is a felony in the U.S. No Auto Insurance Company in the USA would be obligated to pay for a claim arising from the Insureds theft of another persons property.
Does comprehensive on my auto insurance cover theft?
Yes, as a rule and possibly in all known policies. If you have any doubts read your policy or call your agent.
What are auto insurance liability boundaries?
This term refers to the maximum amount of money that the insurer is obliged to pay on your behalf in the event of a collision. The premium that you pay to the insurer for this protection is a function of many factors, once of which is the liability thresholds. Liability thresholds are usually voiced in terms of an amount payable per person, and a larger amount payable per event or occurrence. This means that if an event occurs that is your fault and that is covered by the policy, the insurer may be required to pay a maximum of $X to each person who is injured or harmed. Further, it means that if numerous people were injured or harmed by the same occurrence, the insurer is liable for payment of up to the “per occurrence” boundaries, but no more. All of this is contingent upon the person insured being legally liable for the occurrence. This generally means that the person must be found to have been negligent.
Is there a deductible on liability auto insurance?
Not with respect to private auto insurance. However, when commercial auto insurance is involved, especially fleet coverage, there sometimes is. It is not called a deductible, but a “self-insured retention”. The insured selects an amount that it is willing to pay toward the indemnity of a third party before the insurer’s obligation to pay is triggered.
Does auto comprehensive insurance pay off and substitute auto?
Not as such. What you owe on your vehicle has nothing to do with the auto insurer’s liability, except to the extent that the lienholder is usually named on the policy as a loss payee. If your vehicle is deemed a total loss in a covered incident under comprehensive such as a fire, theft, etc. then the insurance company will pay per the terms of the policy. As stated in the policy, the insurance company has the option to repair, substitute, or pay the actual cash value of your vehicle. Actual cash value will be paid if the reasonable cost of repair exceeds a stated percentage of the actual cash value of the vehicle. That percentage is usually set by state law. Actual cash value harshly equates with market value of a similar vehicle in similar condition and similarly tooled. If the vehicle is proclaimed a total loss, the insurer will pay the lienholder very first and if the car is worth more than the loan balance the remainder will be paid to the insured. If the loan balance is more than the value of the vehicle, and thus, what the insured pays, the insured is responsible for the balance. then you have a problem. The company will pay the entire amount to the loan company but then you will still owe the balance to the loan company or bank. One of the ways to protect yourself from being responsible for the difference inbetween what the insurer pays and the balance on the loan, is through GAP insurance. It is a separate policy, for a separate premium. It pays the difference inbetween the insurance settlement and the amount remaining on the loan. It is usually suggested when the car is purchased and financed, but can generally also be obtained after the fact from a property and casualty insurance agent.
Why would you purchase comprehensive general liability insurance?
If you are in a business that involves the risk of accidents, you can be sued for large amounts of money in the event of an accident, therefore you need comprehensive general liability insurance to protect you if you were to lose a large lawsuit. That is incorrect. I had comprehensive general liability on my Motorcycle. Wrecked it an was not covered because I did not have colllision coverage. General Liability covers the injuries, repairs of others involved in a wreck where you are found at fault including property, for the amounts stated in your policy. Also there are statewide minimums for each category. Your vehicle is not covered. If you are hit the other drivers insurance pays for your vehicle, if they are uinsured then your policy pays because you are required to have uninsured protection on your policy. If you wreck your car you do not get it repaired by your insurance company with liability. Comprehensive covers bruised to your vehicle incurred by weather, fire, vandalism, etc.. When you get comprehensive coverage you will select a deductible that you must pay and your insurance will pay the rest. For example: a tree branch falls on your car while it is parked somewhere. Comprehensive coverage is for that.
What does comprehension mean in auto insurance?
It is other than collision insurance. It covers hail, stolen vehicle, hitting an animal, and vandalism.
What is the difference inbetween utter coverage auto insurance and comprehensive and collision insurance?
This is a good question. Total coverage was a term that used to be used in insurance to describe a policy that had liability, comprehensive, collision and any other endorsements that the client wished such as rental coverage and whatever else. Due to it being the day of suing over everything we don’t use the term any more because too many attorneys have wooed people that utter coverage had to mean every possible coverage that there is and then some even however the person knew what they bought. No individual responsibility for reading the policy or at least the declarations summary page, just sue. So now we don’t say total coverage any more, we name each coverage separately.
Is there a deductible on comprehensive coverage auto insurance?
Usually there is a deductible on comprehensive coverage auto insurance. The deductible can range in different amounts usually from 0 to $1000 or even higher if it is a very expense vehicle.
Where can one get a good auto liability insurance?
A person can get superb auto liability insurance by doing a lot of research before determining on a company. There are local agents that are glad to assist in help. In addition, there are websites that can give good quotes on pricing. I think that serious research is the best way to get the best quote.
How is general liability insurance different from comprehensive general liability insurance?
General Liability Insurance is just a form of Liability in the commercial sector. There is a difference in coverages suggested in Private Lines as opposed to commercial or business lines. A broader scope of coverage is needed if you are involved in a commercial (business) venture.
Where can one find comprehensive details on auto insurance plans?
One can find auto insurance plans from major insurance companies such as Geico or Progressive. It is recommended to get numerous quotes before determining.
What kind of damages does comprehensive auto insurance cover?
Comprehensive auto insurance will cover a driver for car accidents and injury caused by them. It will also cover harm from weather incidents, vandalism and fire, as well as theft.
What insurance company provide auto insurance liability?
Allstate is one of the most well known insurance company that provides auto insurance liability. Other companies that provide this service include GEICO and Nationwide.
What does comprehensive general liability insurance cover?
Comprehensive general liability insurance covers businesses against many liability exposures of a business. Comprehensive general liability insurance coverage includes ended operations, elevators, independent contractors, and more.
Where can one buy comprehensive auto insurance coverage?
One can buy comprehensive auto insurance at pretty much any company that specializes in insurance policies. Some of the most popular companies include State Farm, Progressive, Allstate and Esurance.
What is included in comprehensive auto insurance coverage?
Comprehensive auto insurance coverage covers the different types of events or accidents cause by falling objects, animals, extreme weather, theft, vandalism or riots. But it does not apply to any types of accidents with other cars.
What is the difference inbetween utter coverage auto insurance and liability only insurance?
Total coverage auto insurance covers everything. If the car is totaled they will will substitute it. Liability auto insurance will only cover medical bills, and not the car if it is totaled.
Where can you purchase cheap auto liability insurance?
Auto liability insurance, sometimes known as third party insurance, provides protection to the driver for the costs of hurting another vehicle, property or person whilst driving. Cheap auto liability insurance can be purchased from car insurance brokers, and cheap deals can be identifed using insurance comparison websites such as Go Compare or Compare the Market.
What is the definition of Comprehensive Liability Insurance?
Comprehensive Liability Insurance means protection against claims of property harm or private injury when filming on public property. This is a very accurate definition.
What is difference of commercial liability insurance and commercial comprehensive insurance?
Liability provides coverage for claims or losses in which you canbe held liable for damages or in which you have been accused ofbeing responsible. Comprehensive coverage would also provide coverage for otheraspects of your business, such as property, inventory, businessautos and equipment, cash flow, etc..
What does the liability portion of auto insurance cover?
Caution Laymans Response! Basically Liability is to cover harm done to outher people andother peoples property.
Is a bruised key covered by my comprehensive auto insurance?
Very likely not. The main reason is that the cost to substitute a key will not be enough to exceed whatever deductible you have. The main issue to consider on any claim is what caused the loss and the claim must be caused by a covered loss.
Do you need liability insurance if you have comprehensive insurance?
Generally, you can’t buy comprehensive without very first buyingliability coverage. Liability covers harm you do in an accidentif it is your fault. Comprehensive will not even pay for yourvehicle in an accident. It only covers fire, theft, vandalism,animal collision, etc.