Protects Against Loss From Automobile Accidents Of Insured

It generally refers to a reduction in a property s value or to harm affecting a person such as an injury after a car accident.

Protects against loss from automobile accidents of insured. Noun when you pay premiums in exchange for a policy that pays out when you crash your car in a car accident this is an example of an auto insurance policy. A vehicle insurance policy provides all round protection to the vehicle against any physical damage or loss arising out of natural and manmade calamities fire accidents or theft. This insurance can provide additional protection against financial losses resulting from an auto accident. Business law 2 chapter 19 vocab.

There are other types of auto insurance that are available in addition to the required coverages. See the rules for your state. Pip insurance can pay for medical bills lost wages and more after a car accident. You might also like.

An insurance policy can protect against financial loss after a car accident. It also provides protection against accidental bodily injuries death or physical damages caused to third party liabilities as well as the owner driver of the vehicle. Personal injury protection is often misunderstood. Coverage for damage to your auto.

Portion of an auto insurance policy that protects a policyholder from uninsured underinsured and hit and run drivers. The definition of insurance is protection against something going wrong. The duty of indemnity generally originates from the agreement in between insurer and insured which protects the insured against any liability damage or loss. Liability insurance protects against loss from injury to others on insured s property.

In insurance terms a loss is any injury or damage that the insured suffers because of a covered accident or misfortune. Uninsured and underinsured motorist coverage is designed to protect against that possibility. An indemnity case arises when an individual is obliged to pay for the loss or damage incurred by another person in an event of an accident collision etc. A car insurance is a policy contract signed between you and the insurance company that protects you against financial loss or damage in the event of a road accident or theft in exchange of annual premium payments.

Insurance terms and concepts. If you re involved in a serious accident with a motorist who doesn t have an auto insurance policy you could be at risk for substantial financial losses.