Provides excess limits for bodily injury (BI) and property damage (PD) liability for persons unable to secure more than minimum limits under their basic liability policy. This type of coverage stipulates that the primary policy must always be kept in force and is typically purchased by assigned risk plan policyholders.
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Provides excess limits for bodily injury (BI) and property damage (PD) liability for persons unable to secure more than minimum limits under their basic liability policy. This type of coverage stipulates that the primary policy must always be kept in force and is typically purchased by assigned risk plan policyholders.
Protection for the insured against financial loss because of legal liability for car-related injuries to others or damage to their property.
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A form of liability insurance that is specifically designed meet requirements of Motor Vehicles Act in India to indemnify for loss incurred through legal liability for death and/or bodily injury and damage to property of others caused by accident arising out of ownership or operation of an automobile.
Insurance that covers the insured in case of legal responsibility for damage caused by an automobile. Required by state law.
Coverage applying to the medical, hospital, or funeral expenses of anyone injured while on or in an insured automobile. The coverage is not dependent on liability, being triggered simply by an accident. It may be included in either the Business Auto Policy or the Personal Auto Policy. See also Premises medical payments.
Coverage to pay for damage to or loss of an insured automobile resulting from collision, fire, theft, or other perils.
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Automobile insurance coverage that insures against damage to the insured’s own vehicle. Coverage is provided for perils such as collision, vandalism, fire, and theft.
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US: Automobile insurance coverage that insures against damage to the insured’s own vehicle. Coverage is provided for perils such as collision, vandalism, fire, and theft.
Insurance that covers the insured’s vehicle against damage caused by various sources; for example, vandalism or a fire.
See: automobile insurance.
Cost of automobile insurance coverage paid either monthly, quarterly, or annually to an insurance company that keeps the policy in force. Insurance companies base their premium rates on historical loss experience for similar risks.
One of several types of shared market mechanisms used to make automobile insurance available to persons who are unable to obtain such insurance in the regular market.
A program in which all automobile insurers in each state make coverage available to car owners who are unable to obtain auto insurance in the voluntary market.