post by palado
Knowing who is an insured on your car insurance policy is an important factor we all should know before lending someone a vehicle. Not knowing who is an insured can lead to uncovered accidents leading to legal, financial, and physical problems.
The following information is in regards to Liability coverage which covers bodily injury and/or property damage to others as a result of an accident that an insured becomes legally responsible for up to the policy coverage limits.
Although there are some exceptions and exclusions that we’ll cover later, in general most policies consider the following to be insured:
The name insured and members of his or her family while using any car.
Anyone using the insured’s car with the insured’s permission or the reasonable belief that he or she is entitled to do so.
Other people or organizations to the extent that they share liability with an insured.
Other persons or organizations for their liability arising out of an accident involving any auto or trailer used by the insured or a family member. (does not apply if the auto or trailer is owned by the person or organization in question)
To take a closer look at these groups, first, the named insured, his or her spouse or any family member is an insured for the ownership, maintenance or use of any auto or trailer.
Suppose the named insured’s 16-year-old son borrows a neighbor’s car and causes an accident. The son would be considered an insured for Liability coverage under the named insured’s Personal Auto policy.Any person using the named insured’s covered auto with the insured’s permission or the reasonable belief that he or she is entitled to do so is also covered for Liability insurance.
For instance, a neighbor would be insured under the policy if he or she had an accident while driving the named insured’s car, but would not be covered under the name insured’s policy while driving his or her own vehicle.
The policy also insured any person or organization who is legally responsible for the acts or omissions or anyone insured under Liability coverage of the policy that results in an auto accident involving a covered auto.
This is commonly referred to as vicarious liability.In addition, the policy insures any person or organization who is legally responsible for the acts or omissions of a named insured or family member that results in an accident involving any auto or trailer; however, such a person or organization is not covered if they own or hire the auto or trailer.
It is important to be aware of exclusions that apply to your policy. There are a number of exclusions that help define coverage under the Liability Coverage section of the Personal Auto policy.
Usually, Exclusions include:
Bodily injury or property damage caused intentionally by the insured.
Damage to property owned or being transported by the insured.
Damage to property rented to, used by or in the care of the insured.
Bodily injury to an insured’s employees.
Liability arising out of an insured’s ownership or operation of a vehicle used as a public or livery conveyance such as at taxi or limousine.
Liability arising while the insured auto is being used in an auto business.
Use of a vehicle without permission.
Motorized vehicles with fewer than four wheels or designed for use of public roads.
Vehicles other than covered autos that are owned by the named insured of furnished for the named insured’s regular use.
Vehicles other than covered autos that are owned by family members or furnished for their regular use. (does not apply for the named insured)
Vehicles used in prearranged racing or speed contests.
It is important to know your particular auto insurance policy’s terms and conditions. The information listed in this may be different from your actual terms in conditions.
Visit OnlineAutoInsurance.com’s learning center to learn more about car insurance.
OnlineAutoInsurance.com provides learning resources as well as the ability to find the right auto insurance company for your needs. Feel free to obtain your online auto insurance quote by completing one simple form.
Auto Insurance - The Basics
post by palado
Auto insurance was designed to protect individuals in case of an automobile accident or loss to their vehicle.
First, people want to be protected against their liability in case they injure someone or damage someone else’s property through the use of their automobile.
Second, people want protection for damage to their own automobile in case the auto is damaged in an accident or suffers other types of damage, such as fire or theft.
Since the homeowners form specifically excludes automobile coverage, they must be covered separately, through a policy called a personal auto policy, or PAP. Because the PAP contains both Property and Liability coverage, it is considered a package policy.
The Personal Auto policy consist of Declaration page and policy form. The policy form contains four separate coverages, each with its own insuring agreement, exclusions and conditions.
They are:
Part A- Liability Coverage – This coverage may be written alone or with any of the other coverges. It provides coverage for bodily injury and property damage to others for which you are liable for up to the policy limits.
Part B- Medical Payments Coverage - This coverage is optional, but it may only be written if the policy includes Liability Coverage. It provides medical coverage to a certain limit.
Part C- Uninsured Motorists Coverage - This coverage may only be written in conjunction with liability coverage and is subject to other laws that vary from state to state. It is mandatory in some states; in others the insured may reject the coverage in writing. It provides protection against damage to you, your passengers and your vehicle as a result of an uninsured driver.
Part D- Coverage For Damage To Your Auto (Physical Damage) - This coverage consists of two parts, Collision and Other Than Collision and may be written alone or with liability coverage.
The Personal Auto policy can be issued to an individual or husband and wife residing in the same household. Many Personal Auto policies are written to include all of the available coverages, but the insured does not have to purchase each one.
The above is a quick summary of usually available coverage. You must be aware that there are exclusions, limits and conditions to all the above coverage that you should be aware of.
OnlineAutoInsurance.com has licensed agents ready to go over your coverage options and answer any questions you may have.Log onto OnlineAutoInsurance.com to obtain free online car insurance quotes from multiple companies with one simple process
Auto insurance was designed to protect individuals in case of an automobile accident or loss to their vehicle.
First, people want to be protected against their liability in case they injure someone or damage someone else’s property through the use of their automobile.
Second, people want protection for damage to their own automobile in case the auto is damaged in an accident or suffers other types of damage, such as fire or theft.
Since the homeowners form specifically excludes automobile coverage, they must be covered separately, through a policy called a personal auto policy, or PAP. Because the PAP contains both Property and Liability coverage, it is considered a package policy.
The Personal Auto policy consist of Declaration page and policy form. The policy form contains four separate coverages, each with its own insuring agreement, exclusions and conditions.
They are:
Part A- Liability Coverage – This coverage may be written alone or with any of the other coverges. It provides coverage for bodily injury and property damage to others for which you are liable for up to the policy limits.
Part B- Medical Payments Coverage - This coverage is optional, but it may only be written if the policy includes Liability Coverage. It provides medical coverage to a certain limit.
Part C- Uninsured Motorists Coverage - This coverage may only be written in conjunction with liability coverage and is subject to other laws that vary from state to state. It is mandatory in some states; in others the insured may reject the coverage in writing. It provides protection against damage to you, your passengers and your vehicle as a result of an uninsured driver.
Part D- Coverage For Damage To Your Auto (Physical Damage) - This coverage consists of two parts, Collision and Other Than Collision and may be written alone or with liability coverage.
The Personal Auto policy can be issued to an individual or husband and wife residing in the same household. Many Personal Auto policies are written to include all of the available coverages, but the insured does not have to purchase each one.
The above is a quick summary of usually available coverage. You must be aware that there are exclusions, limits and conditions to all the above coverage that you should be aware of.
OnlineAutoInsurance.com has licensed agents ready to go over your coverage options and answer any questions you may have.Log onto OnlineAutoInsurance.com to obtain free online car insurance quotes from multiple companies with one simple process
Consumer Alert: Under-insured auto
post by palado
(National) June 9, 2005 - Kathy Sommerich Handel had a car accident last year. Her two children were in the back seat. "It was really scary because the kids were screaming. They had never experienced anything like it."
Fortunately, no one was hurt. Kathy's also lucky that she had enough insurance to cover the damage, so there was no financial impact either. How can you keep a collision from becoming a financial disaster?
Consumer Reports Money Adviser Laura Washington says be aware, the state insurance requirements may leave you vulnerable. "If you own your own home, or if you have assets, they could be at risk if you're underinsured."
So what's sufficient auto insurance coverage for homeowners? For both bodily-injury and uninsured motorist coverage, you should be covered for $250,000 per person and $500,000 per accident.
Washington says, "It'll raise your premiums about ten, ten percent, but it's clearly worth it if it could, if it means saving your home."
And the Consumer Reports Money Adviser says another area where people are often underinsured is property-damage coverage. "States typically recommend between $10,000 and $25,000 worth of coverage. But we recommend $100,000 worth of coverage, just in case you hit a really expensive car."
And in the chaos that follows an accident, people often forget what information they need. Ask to see the driver's license and insurance card as well as the vehicle registration. Also, be sure to note the make, model and license plate of the car.
Kathy says she made a point of staying calm after her accident, and that helped ensure that she got the information she needed.
Consumer Reports says it's a good idea to carry a disposable camera in your car in case of an accident. You can take pictures of the scene, your car and the other vehicle involved. This can help protect you against claims for damage that you didn't cause.
Reported by Judi GatsonPosted 3:40pm by Bryce Mursch
Consumer Reports has no commercial relationship with any advertiser or sponsor appearing on this Web site. Copyright © 2000-2005 Consumers Union of U.S., Inc.
(National) June 9, 2005 - Kathy Sommerich Handel had a car accident last year. Her two children were in the back seat. "It was really scary because the kids were screaming. They had never experienced anything like it."
Fortunately, no one was hurt. Kathy's also lucky that she had enough insurance to cover the damage, so there was no financial impact either. How can you keep a collision from becoming a financial disaster?
Consumer Reports Money Adviser Laura Washington says be aware, the state insurance requirements may leave you vulnerable. "If you own your own home, or if you have assets, they could be at risk if you're underinsured."
So what's sufficient auto insurance coverage for homeowners? For both bodily-injury and uninsured motorist coverage, you should be covered for $250,000 per person and $500,000 per accident.
Washington says, "It'll raise your premiums about ten, ten percent, but it's clearly worth it if it could, if it means saving your home."
And the Consumer Reports Money Adviser says another area where people are often underinsured is property-damage coverage. "States typically recommend between $10,000 and $25,000 worth of coverage. But we recommend $100,000 worth of coverage, just in case you hit a really expensive car."
And in the chaos that follows an accident, people often forget what information they need. Ask to see the driver's license and insurance card as well as the vehicle registration. Also, be sure to note the make, model and license plate of the car.
Kathy says she made a point of staying calm after her accident, and that helped ensure that she got the information she needed.
Consumer Reports says it's a good idea to carry a disposable camera in your car in case of an accident. You can take pictures of the scene, your car and the other vehicle involved. This can help protect you against claims for damage that you didn't cause.
Reported by Judi GatsonPosted 3:40pm by Bryce Mursch
Consumer Reports has no commercial relationship with any advertiser or sponsor appearing on this Web site. Copyright © 2000-2005 Consumers Union of U.S., Inc.
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