What is personal automobile insurance?

What are the 3 main types of insurance?

What are the 3 types of auto insurance?

Can someone drive my car if they are not on my insurance?

If a friend or a family member has an accident and isn't insured, then you will have to use your insurance. Unless you have expressly denied that driver permission to use your vehicle.

How many limits can be found in a personal auto policy?

Auto Liability Coverage limits are typically written out in three numbers, such as 100/300/50. This means you have a $100,000 limit per person for bodily injury in an accident, a $300,000 total limit per accident for bodily injury, and a $50,000 limit per accident for Property Damage.

What is not covered under the liability section of a personal auto policy?

Under the liability portion of your policy, coverage is generally excluded in the following situations: Damage or injury is intentional. There is duplicate coverage (e.g., claims covered by workers' compensation)

Which of the following damages would be covered under the liability coverage of personal auto policy?

Liability coverage usually provides a maximum of $50,000 for bodily injury (to any one person), $100,000 for bodily injury per accident, and $50,000 for property damage. Under liability coverage, the following people are protected: The named insured or family member (child, spouse).

What should be covered in car insurance?

Which of the following is not an insured under the personal auto policy?

the following is not insureds under a Personal Auto Policy: A spouse living in a different household; The spouse of the insured must reside in the same household for coverage to apply.

What is the subrogation provision in a personal auto policy?

Subrogation Provision — a provision in an insurance policy addressing whether the insured has the right to waive its recovery rights against another party that may have been responsible for loss covered under the policy.

What are limits and deductibles?

Insurance deductibles are the amount of money you pay out of pocket toward a covered claim. ... When you meet your deductible, it means that you have paid the entire amount of your coverage's deductible, and your insurance will help cover the remaining costs of your covered claim, up to your coverage limit.

Can my son drive my car if he doesn't live with me?

Your child likely won't be able to be on your auto policy any longer because he or she doesn't live in your household. ... If you're the parent who isn't listing the child on your car insurance, your child can still drive your car and be covered by your insurance. It works just as if you had a friend borrow your car.

What happens if I let someone borrow my car and they crash?

If you let a friend borrow your car and he or she causes an accident, your auto insurer would be responsible for paying for damages to the other driver and his or her passengers, up to the limits of your policy. If damages exceed your policy limits, your friend's insurance would act as secondary coverage.

What happens if someone else is driving my car and gets in an accident?

If someone else is driving your car and another person causes the accident, the at-fault driver's insurance is usually responsible for covering costs. On the other hand, if the driver of your car is at fault, your car insurance will usually cover damages.

Which type of car insurance is best?

Which is a better Car Insurance? Taking a comprehensive car insurance cover is always advisable as it provides complete protection of not only someone else's car like a Third-Party car insurance, but also the Own damages to your car, as well as any injury to the owner driver.

What is basic car insurance called?

Basic car insurance is often known as liability insurance. Requirements vary by state, but basic auto insurance can be broken down into two main types of liability insurance: personal injury and property damage.

What are the two types of auto insurance?

The two main types of car insurance policies are liability-only and full coverage. While liability-only policies just have bodily injury and property damage liability insurance, full coverage includes comprehensive and collision insurance in addition to state-minimum coverage.

What are the 7 main types of insurance?

7 Types of Insurance are; Life Insurance or Personal Insurance, Property Insurance, Marine Insurance, Fire Insurance, Liability Insurance, Guarantee Insurance. Insurance is categorized based on risk, type, and hazards.

What is the meaning fidelity insurance?

A Fidelity Insurance policy covers losses sustained by the employer as a result of an act of forgery, fraud or dishonesty from an employee. The loss can be of money or goods, for the duration of the policy. The cover may be required in respect of a single employee or a group of employees.

What does P&C stand for in insurance?

Property insurance and casualty insurance (also known as P&C insurance) are types of coverage that help protect you and the property you own.

What are the three eligibility requirements for a personal auto policy?

requirements: they must be owned by insured persons; •they must have a Gross Vehicle Weight of less than 10,000 pounds; and •they must not be used in a freight or delivery business.