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Replacement cost coverage is designed so the policy holder will not have to spend more money to get a similar new item and that the insurance company does not pay for intangibles. [4] For example: when a television is covered by a replacement cost value policy, the cost of a similar television which can be purchased today determines the ...
Cost of goods sold (COGS) (also cost of products sold (COPS), or cost of sales [1]) is the carrying value of goods sold during a particular period. Costs are associated with particular goods using one of the several formulas, including specific identification, first-in first-out (FIFO), or average cost. Costs include all costs of purchase ...
"Prior acts" (or "nose") coverage transfers the retro-active date for an old policy to a new insurance carrier—eliminating the need to purchase tail coverage from the last carrier. Nose coverage is usually less expensive than purchasing tail coverage from the old carrier. Tail coverage costs 2–3 times the expiring premium.
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.
You need to buy personal injury protection coverage if you live in a no-fault (versus an at-fault) state. ... 🚗 Say you have a 2010 Ford sedan worth $3,000 and your full-coverage insurance ...
In retail consumer electronics, extended warranties cost 20% to 30% of the price, and give sales associates up to 15% commission at some retailers. [ 3 ] [ 4 ] Consumer advocate groups, such as the non-profit Consumers Union , advise against purchasing extended warranties unless they can be purchased at manufacturers cost.
According to Wednesday's CPI reading, the cost of car insurance is up 22.6% during the past year, the biggest jump by far across the 28 major spending categories Yahoo Finance has been tracking ...
Guaranteed asset protection insurance (or GAP Insurance) is an insurance coverage offered as a supplement to automobile insurance policies or auto loans. A GAP policy covers the difference between the value of a car (i.e., what the insurance company will typically pay), and what the borrower owes on the loan if the car is totaled or stolen.