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An ISO PAP is issued to mom and dad for 4 autos, 3 owned by dad and 1 owned by an adult son. Mom and dad drive 2 of the autos. The adult son that owns one of the autos drives it and lives in a separate household. The 4th auto is owned by dad but driven by another adult son who lives in his own, separate household. Are there any coverage problems?
State laws vary regarding auto policies, personal and commercial. Each state prescribes its own minimum limits and other required coverages. Some state require Uninsured Motorist (UM) and some states require Uninsured and Underinsured Motorist (UM/UIM). Is it a Personal Injury Protection state (aka, No-Fault); or are you allowed to exclude a driver?
Your customer is driving into Canada and asks if she needs to do anything special about providing proof of insurance at the border or if otherwise stopped by law enforcement. Here is what Canadian officials recommend….
As bells chime across the campus, and the familiar refrain of “Pomp and Circumstance” announces yet another graduating class, a milestone has been reached by both the graduates and their families. And as with so many of the major events in life, there are significant insurance issues that arise with high school or college graduation.
Most insurance agents “could write a book” about some of the choices consumers often make about their insurance protection. A prime example is the small commercial insured that has his company purchase an auto, which he then leases to himself (for a nominal fee). See any problems here?
An insured wants to loan his horse trailer to a good friend on a regular basis. He is concered about liability coverage if he is sued. Is it covered by the other person's PAP? Is it covered by his PAP? Is there coverage by either PAP while unhitched or does the HO policy cover it?
Recently an attorney brought a letter to my attention that came from a client's agent. The letter suggested that, if the insured had good medical (and maybe disability) insurance, he could save some premium by dropping his UM coverage. And why not? After all, the agent does have E&O coverage...and here's why he might need it....
It is very common for customers to want to insure an auto owned by their business under a Personal Auto Policy, primarily because the premium is lower (or the agent suggests it to be more competitive). However, there are some compelling reasons why this might be a bad idea, particularly when serious coverage gaps are created. It is possible to do this, but not in the manner too many agents employ.
Is a mini-van a 'van' or a private passenger auto in the ISO Personal Auto Policy (PAP)? There are some coverage limitations (e.g., custom equipment) in the current PAP, so it can be important. Even more critical, some earlier PAP versions provide NO coverage for certain uses of certain 'vans.'
Most modern insurance policies incorporate a section of definitions that attempt to clarify the specific meanings of certain terms used in the policy language. If coverage disputes arise over the meaning of a particular policy provision, courts will first turn to the definitions section to determine the intent of the company.
A minority of states have no-fault laws and each state has one or more Personal Injury Protection (PIP) endorsements that provide this coverage. Without getting into the specifics of each state, below is an overview of the basics of PIP no-fault coverage.
Medical payments coverage under a Personal Auto Policy is similar to an accident policy...if the injured person is an 'insured,' it pays without regard to liability. In this section, we'll look at the Part B Insuring Agreement - Coverage.
Medical payments coverage under a Personal Auto Policy is similar to an accident policy...if the injured person is an 'insured,' it pays without regard to liability. In this section, we'll look at the Part B Other Insurance.
Medical payments coverage under a Personal Auto Policy is similar to an accident policy...if the injured person is an 'insured,' it pays without regard to liability. In this section, we'll look at the Part B Exclusions.
Medical payments coverage under a Personal Auto Policy is similar to an accident policy...if the injured person is an 'insured,' it pays without regard to liability. In this section, we'll look at the Part B Insuring Agreement - Insureds.
Medical payments coverage under a Personal Auto Policy is similar to an accident policy...if the injured person is an 'insured,' it pays without regard to liability. In this section, we'll look at the Part B Limit of Liability.
Uninsured Motorists (UM), and/or Underinsured Motorists (UIM), coverage is essentially liability insurance that a policyholder purchases on behalf of, and to protect himself from, persons who choose or fail to maintain liability coverage (UM) or adequate liability limits (UIM) under their own policies. In this section, we'll look at the Part C Arbitration.
Uninsured Motorists (UM), and/or Underinsured Motorists (UIM), coverage is essentially liability insurance that a policyholder purchases on behalf of, and to protect himself from, persons who choose or fail to maintain liability coverage (UM) or adequate liability limits (UIM) under their own policies. In this section, we'll look at the Part C Exclusions.
Uninsured Motorists (UM), and/or Underinsured Motorists (UIM), coverage is essentially liability insurance that a policyholder purchases on behalf of, and to protect himself from, persons who choose or fail to maintain liability coverage (UM) or adequate liability limits (UIM) under their own policies. In this section, we'll look at the Part C Insuring Agreement - Insureds.
Uninsured Motorists (UM), and/or Underinsured Motorists (UIM), coverage is essentially liability insurance that a policyholder purchases on behalf of, and to protect himself from, persons who choose or fail to maintain liability coverage (UM) or adequate liability limits (UIM) under their own policies. In this section, we'll look at the Part C Insuring Agreement - Coverage.
Uninsured Motorists (UM), and/or Underinsured Motorists (UIM), coverage is essentially liability insurance that a policyholder purchases on behalf of, and to protect himself from, persons who choose or fail to maintain liability coverage (UM) or adequate liability limits (UIM) under their own policies. In this section, we'll look at the Part C Limit of Liability.
Uninsured Motorists (UM), and/or Underinsured Motorists (UIM), coverage is essentially liability insurance that a policyholder purchases on behalf of, and to protect himself from, persons who choose or fail to maintain liability coverage (UM) or adequate liability limits (UIM) under their own policies. In this section, we'll look at the Part C Other Insurance.
Uninsured Motorists (UM), and/or Underinsured Motorists (UIM), coverage is essentially liability insurance that a policyholder purchases on behalf of, and to protect himself from, persons who choose or fail to maintain liability coverage (UM) or adequate liability limits (UIM) under their own policies. In this section, we'll look at the Part C State Variations.
Uninsured Motorists (UM), and/or Underinsured Motorists (UIM), coverage is essentially liability insurance that a policyholder purchases on behalf of, and to protect himself from, persons who choose or fail to maintain liability coverage (UM) or adequate liability limits (UIM) under their own policies. In this section, we'll look at the Part C Insuring Agreement - Uninsured Motor Vehicles.
In general, two factors govern eligibility for a Personal Auto Policy: (1) the person(s) seeking insurance, and (2) the type(s) of vehicle(s) to be covered. However, certain exceptions may be permissible, either by endorsement and/or company consent.
Often, your clients have a choice about whether to insure their auto(s) under a Personal Auto Policy (PAP) or a Business Auto Policy (BAP)...they may even insist upon one or the other, often due to price. But what about the coverages? Is one better than another? Of course, it depends on each individual situation, but each course of action has its advantages and disadvantages. Here are a few....
Everyone thinks they pay too much for insurance, even those of us in the industry, just like we think we pay too much for gas, milk, shoes, and just about everything else. Likewise, we all want to save money whenever we can. Sometimes, however, the games that can be played with insurance pricing can get a little out of hand.
In a recent court case, the insured was injured in a collision between her vehicle and one driven by another party who apparently intentionally collided with her vehicle. The other party's insurer denied the claim because it was not accidental. When the insured turned to her carrier for payment for her injuries under UM coverage, the insurer denied the claim on the same basis...it was not accidental. Is that correct?
Personal auto insureds may occasionally rent a U-Haul type truck to move from one residence to another. When they do, is there any coverage under their ISO Personal Auto Policy for this exposure? Clearly, there is no coverage, even if personal use, for such vehicles with regard to physical damage. But what about liability coverage?