Auto insurance consists of both liability insurance and physical harm coverage. Collision coverage is part of the physical harm section of an insurance policy and is designed to either repair or substitute your vehicle if you are involved in an accident up to the fair market value of the vehicle. Collision will pay for both damages caused in an at-fault accident and damages caused in a not at-fault accident if the other party did not have insurance. If the other party did have insurance and they were responsible for the damages, the other party’s liability insurance would pay for your vehicle damages through Property Harm coverage. You are responsible to pay for your collision deductible for at-fault accidents before a claims payout will be made.
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 “private 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 can you obtain collision and comprehensive auto insurance on a vehicle with a salvage title in NJ Can you insure it under your homeowner’s policy?
Homeowners insurance does not cover vehicles used on public roads. It should not be a problem. Geico insures salvage cars, as do mostinsurance companies. Just recall the car is worth less as asalvage if it’s re-totaled the actual cash value of the car isabout 40% less than a comparable clean titled car. And it’s easierto re-total the car a 2nd time since it’s worth less, so minordamage may re-total it. Lesson: don’t pay too much for salvage carsand don’t get in an accident! **14Jun11- Just called Geico and they said will insure my SalvageTitle here in Fresh Mexico, but will also permit me to addComprehensive to the policy. The company I am presently with will also insure the vehicle forliability but WILL NOT insure for comprehensive. The choice is to go without comp or switch companies. You determine!
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
Why is it your fault if you have no collision insurance?
Fault is determined by who committed a driving infraction, not who has insurance. If you have no collision insurance, you are responsible for the damages to your own vehicle unless another driver is determined to be at fault.
What does loss payee mean on a auto insurance policy?
The loss payee is any entity that has financial interest in the vehicle (usually a financial institution) that notifies the insurance company and the policy holder of that interest in writing. Any entity can be a loss payee, including your father, if he can showcase financial interest. .
The loss payee is usually the finance company that holds title to your vehicle. In the event of significant harm to the vehicle the loss payee needs to sign off on the check from the insurance company for the harm. This usually happens after the harm has been repaired. In the event of a total loss the loss payee will be sent a check for the amount of the loan and anything left over will you to the insured. Hopefully you won’t owe more than the car is worth in the event of a total loss.
What does it mean when someone is excluded from an auto insurance policy?
By excluding a person from an auto insurance policy, you are stating that the “excluded” person will not drive the insured vehicle, and that you understand that the “excluded” person is not covered by your insurance in the case of any traffic disturbance (accident, ticket, etc.)..
It means there is no coverage available to the excluded person in the case of an accident while driving the said vehicle. There will be NO COVERAGE.
What is the difference inbetween auto comphrehensive and auto collision insurance coverage?
Collision covers harm from collisions only, whether it is a fender-bender in the parking lot, running into the garage, or a traffic accident. Comprehensive covers harm “other than by collision”, that would be hail, flood, vandalism, windshield pits, etc.
Can your auto insurance carrier make you use after market parts on your GM auto for collision repairs?
Usually an insurance co. wants a quote on the repairs,if they want after market parts, then they are cheap and I would use another insurer. .
Once you give the Ins co. the estimate or two estimates if from the original dealer, the original dealer should use genuine parts, and ask for the empty boxes. .
If you get the check from the insurance co. it is up to you to do the repairs, they will not pay again for same thing. If you get the check and cash it and do no repairs, itson you.
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.
What does ‘stacking’ mean in regard to auto insurance?
Georgia automobile insurance law states that people who purchase insurance may “stack” – or add the coverage together for each insured vehicle – for uninsured and underinsured motorist coverage.
What do car ISO symbols mean in auto insurance?
Meaning of Car ISO Symbols .
the ISO Symbols assigned to vehicles in auto insurance underwriting are representative of the historical risk and loss factors associated with that specific vehicle make an submodel. They are crucial in accessing the overall risk for the insurer.
What is Auto collision insurance?
Collision coverage pays to repair or substitute your vehicle if you are determined to be ‘at-fault’ (you caused the accident). Typically, a deductible (amount you pay out of pocket) applies to this type of coverage. The most common deductibles are $500 to $1000, but can be lower or higher. Comprehensive (also known as “Other Than Collision”) coverage is usually included on policies with Collision coverage. It covers theft, vandalism, flooding, fire, animal harm, glass harm (not caused by a collision) and severe weather harm (hail, wind, tornado, hurricane, etc). If a vehicle is financed, both of these coverages are considered mandatory to protect the lender. Collision claims will usually cause your insurance rate to increase at your next renewal. Most insurers don’t penalize you for Comprehensive claims because they weren’t caused by your negligence.
What does collision insurance cover?
It covers harm to your vehicle resulting from an at fault collision with another vehicle or object.
What does class mean on auto insurance policy?
Clas on an auto insuranc epolicy refers to the vehicle type..
IE , sedans, sport, luxury, non-owner, etc.., etc,,,
Is collision insurance mandatory on financed auto that’s almost paid off?
most lein holders require coll and comp coverage to protecttheir (the are co-owners in effect of this vehicle should you default on the loan they don’t want to attempt and sell a wrecked car) vehicle.. if you don’t have it and prove it to them that you do have coverage, they will put this coverage on the vehicle themselves (and charge you) typcially at amuch higherrate, than you can buy it for, it would be good idea to put it on the vehicle yourself until it is paid off…..
What to do if Car totaled and no collision insurance?
If the accident was your fault you’re out of luck. If you were hit by someone, their insurance will total your car and pay you for its actual cash value.
Does collision auto insurance cover auto defects?
Collision coverage covers a loss due to a collision, i.e. harm to your vehicle caused when your vehicle hit an object, or an object hit your vehicle. Defects and.
mechanical problems are not covered.
What is comp and collision auto insurance?
Collision is meant to cover your car when it collides with something else. Comprehensive is also sometimes called other than collision, so it usually covers the other things that can happen such as fire or theft.
What does 200300100 mean with auto insurance?
each company is different, but it looks like you were the 100th claim in the year 2003
How much will auto insurance cost for a 17 year old boy with a speeding ticket and a collision that he caused?
He might not be able to get insurance. If he did it would be at least $175 a month and could be much more.
Can you sue an auto insurance company for not providing you with collision coverage knowing that there is a lien holder on your car when you were in an accident?
No, why should they pay for your ignorance? You didn’t know you needed collision coverage on a car you owe money for? And then you want to sue them for your ignorance? I’m guessing you are youthful and feel entitled to everthing, and if you mess up its someone else’s fault. Good luck to you, and grow up!
When should collision insurance be dropped on auto?
This is just my opinion but if the car is over 7 years old, or has a K.B.B value of less than Ten,000 USD. Unless of course its some sort of infrequent or luxury automobile then I can’t judge when to get rid of it. It also depends on how “accident prone” you are. If you tend to get into accidents alot (where you are at fault) then collision insurance might be a good thing to happen, but if you tend to only get into accidents that are other peoples’ fault then….
What kind of customer would want collision coverage for his or her auto insurance?
Someone worried about harm to his or her own car. This is because collision coverage pays the cost of repair to one’s own car, and to that extent, it is referred to as “first-party coverage”. The payment made by the insurer is generally subject to a deductible, which is the dollar amount that the insured has agreed to pay toward the cost of repair. When a vehicle is financed or leased, the lender or the lessor will invariably require the customer to maintain collision coverage on the vehicle so as to preserve the value of the collateral. If the customer does not demonstrate that he/she/it has, there is generally a process by which the lender/lessor can obtain “forced-placed” coverage and have the premium added to the customer’s loan/lease account.
What do you mean by Vandalism in auto insurance?
Comprehensive is a physical harm coverage that is designed to pay for damages caused to your vehicle. Several different losses are covered under comprehensive coverage including: fire, theft, vandalism, explosion, civil riot, hail, and colliding with a live animal. Some insurers refer to Comprehensive coverage as Vandalism coverage. This will cover practically any type of vandalism that occurs to your vehicle except vandalism that was intentionally done by yourself. You will be required to provide a police report if vandalism is claimed.
When is it suitable to liquidate collision from your auto insurance policy?
I don’t think you can legally. If your car is still being paid for the lien holder requires the collision insurance.
Can you get collision insurance on a auto with a salvage title?
Doubtful.. Comprehensive Collision auto insurance is based on vehicle value which can be greatly affected by having a salvage title. The amount that the vehicle value can vary by having such title issues varies by vehicle. If you could find an insurance company to write such a policy it would most likely be a high risk carrier. This would be due to the greater potential of the vehicle becoming totaled out at value which is now considered lower than book value due to the title status. Some carriers will write policies for specialty vehicles and classic cars which insure the vehicle for a specific value. These policies are typically higher rated due to higher cost of repair, capability to obtain parts, and other various exposures that can exist. These types of policies also typically require a vehicle appraisal performed by a reputable company. I am hesitant as to whether or not a salvage title would disqualify you from such a policy but you may want to look into it. Liability insurance is a different story. Some insurance carriers may require a vehicle inspection to ensure that the vehicle has been decently repaired. This would be to ensure that the vehicle is safe to operate. Think of it this way.. Insurance is like gambling. They are attempting to bring in more money in premium than they pay out in losses. The likely rubber hood of a policy costing more in premium due to issues such as salvage title, antique car, specialty car, whatever the case may be; If it puts any extra risk or potential for loss it will be reflected in your insurance premium. Again, that’s only if you can find a carrier to underwrite such a policy. Good luck!
What is collision auto insurance?
Collision insurance pays for harm that happens to your vehicle in an accident if it is your fault. It does not pay for the other vehicle or property involved in an accident. It is not required by law but it is very recommend especially if you financed the vehicle and are still paying off the loan.
What is the collision deductible for in auto insurance?
You are able to chose your own deductible, but you have the car financed or leased, they may dictate the maximum limit.
What is auto collision repair?
– Okay I am presently taking “Auto Collision” at Worcester Tech High School and am here to reaction your question. Auto Collision repair is when a group of people clean, paints, and repair damages to a car. For example, lets say your Car’s side door got smashed, and now threes a meaty dent in the door, Collisonists will indent, sand, and apply a blue gooey substance on the dent, and then sand that down so its nice and slick. Then will pant over it and its all brand fresh. -I don’t want to sound like a wank, but read your question out noisy a few times. AUTO=automobile, car, truck, etc; COLLISION=wreck, accident, etc REPAIR=to fix it!!!
What happens if I am in an auto accident and the other party does not have insurance-I don’t have collision insurance on my auto insurance?
If you had no collision coverage at the time of the collision, you cannot get it after the fact in order for the insurer to pay for repairs. If the at-fault driver had no liability insurance, your only remedy would be to sue him/her for the cost of repair and whatever other out of pocket expenses you incurred; these may include the reasonable cost of renting a vehicle while yours was being repaired. If your vehicle was totalled, your lawsuit against the at-fault party would be for the actual cash value of your vehicle as of the time of the collision, plus other out of pocket expenses that you may have incurred as discussed above. In all events, it will be your cargo to prove negligence on the part of the other party in order to prevail. Additionally, you will need to prove the nature and extent of your damages by means of an “experienced witness”, such as the auto figure facility’s representative who examined and wrote the estimate for repairs. It is not sufficient merely to present the written estimate, as the opposing party must be given the right to challenge its validity by cross-examining the person who ready it.
What does broadened collision auto insurance cover?
Covers medical expensives for you and passengers, will cover damages if other driver who is at fault doesnt have insurance.
What is collision in car insurance?
Collision is a slang term for coverage on your car if you cause the accident.
What is Mexican collision coverage in auto insurance. I don’t live anywhere near Mexico and have no plans to visit there. Any ideas?
Collision coverage in regards to Mexican Auto Insurance means if the vehicle hits a rock or a tree or is hit by another vehicle your vehicle is covered. In Mexico this generally means “Utter Coverage”, which also includes theft.
Do you need travel auto insurance in Mexico if you have collision on your us insurance?
Yes, many places by the border can sell you Mexican auto insurance, you can also call your agent and he should be able to sell it to you or refer you to someone you can.
What is broad collision insurance?
Broad form Collision Coverage is a form of automobile insurance available only in the state of Michigan. Just as with regular collision coverage, the policy helps to pay for the repair or replacement if the insured vehicle strikes another vehicle, another object, or if it rolls over. The difference with the Broad form policy is that benefits are paid in the event of a collision regardless of which driver is at fault in the accident. Typically a Broad form Collision Coverage policy will pay only for the actual cash value of the vehicle insured. The policy holder is responsible for a deductible in an amount selected during the policy negotiation process. If the policy holder is found to be more than 50 percent responsible for an automobile collision, the policy holder is then responsible for the amount of the chosen deductible. However, if the policy holder is less than 50 percent responsible for the incident, they will not have to pay the deductible amount.
Is there someone you can call to report your auto insurance company for making you pay what they called betterment charges outside your collision deductible?
If you disagree with the betterment clauses in your Insurance Contract or think they are not legal you could take the matter to your States department of Insurance or equivalent.
What exactly does free auto insurance quote mean?
customer buy insurance policy to keep themselves safe against loss, policies could be acquired for harm to a car,to a home,for medical expenses,or for loss of life, Insurance provider provide insurance coverage quotes for you to potential customers to disclose the costs and terms of getting insurance coverage from their respective business, In many cases,the higher the chances of harm,the higher expenses of the insurance coverage
What does comprehension mean in auto insurance?
It is other than collision insurance. It covers hail, stolen vehicle, hitting an animal, and vandalism.
What does NB NP mean on auto insurance?
It is difficult to response this without observing the context, but I will take a stab at it. On the auto theft claims end abbreviations are used, like NI, is named insured and IV represents the vehicle. With this as a guide to your question, NP would be named policy holder and as I said, without watching the context, I can only guess as NB being named beneficiary.
What is a type of auto insurance that covers damages to the car resulting from collision with another car or object?
It’s calledCollision coverageand is usually purchased along with Comprehensive coverage when you buy your auto insurance. If you purchased the collision coverage option when you bought your auto insurance policy it will be covered. ResponseThird party car insurance.
What is the difference inbetween total 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 coaxed people that utter coverage had to mean every possible coverage that there is and then some even tho’ 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 utter coverage any more, we name each coverage separately.
What does betterment mean in auto insurance contracts?
Betterment mean in auto insurance contracts is referred to as a condition relating to original and fresh equipment, or older parts, on your vehicle, when having been bruised in an accident may being substituted with fresh one. This improved condition of the vehicle is known as betterment. Betterment depend upon state laws and guidelines of insurance company.
Auto loan and no collision insurance?
Don’t do it as you are likely violating your contract and the auto will be repossesed or you will be charged for compelled place coverage or both.
When is the best time to drop utter coverage auto insurance Vs collision comperhension?
You have to weigh the value of your vehicle versus the cost of the insurance. If your vehicle is still financed you are required to keep utter coverage on the vehicle. Another good option is to drop collision and keep comprehensive on the policy. Collision is if you hit something or turn it over and comprehensive is everything else including animal collisions and violated glass. The higher premium is on the collision.
What does frequency question mean in auto insurance application?
I would imagine that you are using the term frequency in relation to the frequency of claims that a person has instead of the amount of each average claim.
What should one do after an auto collision?
After an auto collision, one should very first check for injuries. In many cases peoples injuries are hidden by shock, so it is significant to see a doctor to make sure that there are no serious injuries. One should also call the police. The police will determine the cause of the collision, which is required by the insurance companies. It is also significant to contact a lawyer and your insurance company, just to make sure you can’t be held liable.
What is the meaning of standard auto insurance?
Standard auto insurance generally refers to the basic car insurance one needs in order to legally drive a vehicle. Often, standard insurance is acceptable for most drivers.
Where can auto insurance coverage for collision be obtained?
One can obtain auto insurance through many insurance companies out there today. A person may wish to contact companies like Geico, State Farm, and All State to compare rates.
What does the term ‘insurance collision’ mean?
Insurance collision is a form of automobile insurance that covers physical harm. In most situations the insurer pays for the insured injuries, harm to the vehicle of the insured, and if the insured is at fault it pays for the harm to the other vehicle, and the other driver.
What collision means?
one moving object or person striking violently against another orconflict inbetween opposing ideas, interests, or factions