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For instance, in vehicle insurance a typical Personal Auto Policy with additional insured provisions will cover not only the original named insured that purchased the auto policy, but will also cover additional persons while they are driving the auto with permission of the named insured. This is a simple type of blanket additional insurance ...
A loss payee clause (or loss payable clause) is a clause in a contract of insurance that provides, in the event of payment being made under the policy in relation to the insured risk, that payment will be made to a third party rather than to the insured beneficiary of the policy.
Additional insureds don’t necessarily have to be listed as drivers unless they drive the vehicle regularly. For example, say your mom is the co-owner of your vehicle, but you don’t live ...
Liability insurance (also called third-party insurance) is a part of the general insurance system of risk financing to protect the purchaser (the "insured") from the risks of liabilities imposed by lawsuits and similar claims and protects the insured if the purchaser is sued for claims that come within the coverage of the insurance policy.
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Additional living expenses: Homeowners insurance generally covers additional living expenses you incur while repairs are being done up to a certain period of time or coverage limit. That means ...
The insurance policy is generally an integrated contract, meaning that it includes all forms associated with the agreement between the insured and insurer. [ 2 ] : 10 In some cases, however, supplementary writings such as letters sent after the final agreement can make the insurance policy a non-integrated contract.
In automobile liability insurance an omnibus clause may provide coverage for the named insured, any member of the insured's household, and any person using the automobile with the insured's permission, provided the use was within the permitted scope.