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Third party liability for pet insurance refers to pet liability insurance, which is completely different than traditional pet health insurance. Pet liability insurance covers claims for dog bites and other injuries related to your pet attacking or hurting another person or animal. It will pay legal fees and medical bills. Pet health insurance on the other hand pays for medical bills if your dog or cat gets sick or injured.
It's important to understand that these products are completely different and sold by different companies.
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What does driver hit tp mean on your insurance?
On your insurance, driver hit TP means third party. This basically means that if you hit anyone, that person can claim against your liability.
What does PL PD mean?
PL PD stands for "Public Liability and Property Damage." It refers to insurance coverage that helps protect you from the financial consequences of liability claims and damage to third-party property as a result of your actions.
When applying for insurance what does two-party mean?
You may have misconstrued the words. With respect to property and casualty insurance, there are the concepts of first-party coverage and third-party coverage. First-party coverage is that which you obtain to protect your pwn property. An example of this would be the collision coverage on your car, which pays to repair the car irrespective of whether you or another person damages it. Conversely, an example of third-party coverage woukd be liability coverage. This pays for the damages of a third party (property damage or bodily injury) if you are found legally liable for the damages. All of that said, if what you really mean is that someone used the term "two-party" to you in applying for insurance, my best assessment would be that you and another person are insured under the same policy. Since you posped this question in the health insurance category, it may mean that you and a spouse are insured under the same policy, which would not be uncommon. If you can provide further facts, I'd be pleased to further clarify.
Can an insurance carrier subrogate against a third party that caused damage to their insured's vehicle if the third party already paid the vehicle owner's damages?
No. That would mean the third party tortfeasor would pay twice, which would amount to unjust enrichment.
What does 'p and l' mean in the insurance context?
Property and liability (P & L) insurance
What does Professional Liability Insurance mean?
Professional Liability Insurance (also known as Errors and Omissions Insurance) insures businesses with the defense they need if a dissatisfied client makes a claim against it.
Can the responsible party refuse to pay for damages if the person driving your vehicle was not on your policy and you have only liability?
No, they can't refuse. Not having a person on your policy and having liability only doesn't mean that the responsible party is relieved from accountability. File a claim with the other party's Insurance co, if not sue the other driver, as long as you can prove that they were at fault.
What does a public liability mean?
A public liability is a form of insurance purchased by businesses. This insurance protects a company from lawsuit in the event a consumer is harmed as a result of their actions.
What is excess insurance mean on an subcontractors insurance?
The term 'excess' insurance is usually for liability coverage. An excess liability policy is also commonly referred to as an 'umbrella' policy because it offers additional coverage over other liability coverages. In the case of a subcontractors insurance, it would be a policy which would extend higher limits than the base policy on general liability and auto liability.
What does auto collision insurance mean?
Auto insurance consists of both liability insurance and physical damage coverage. Collision coverage is part of the physical damage section of an insurance policy and is designed to either repair or replace your vehicle if you are involved in an accident up to the fair market value of the vehicle. Collision will pay for both damages caused in an at-fault accident and damages caused in a not at-fault accident if the other party did not have insurance. If the other party did have insurance and they were responsible for the damages, the other party's liability insurance would pay for your vehicle damages through Property Damage coverage. You are responsible to pay for your collision deductible for at-fault accidents before a claims payout will be made.
What does CTP green slip insurance mean?
CTP green slip insurance refers to compulsory third party personal injury insurance. This is required insurance to be bought when registering a car that provides coverage when the person driving the car is at fault in an accident.
What does each occurrence mean in liability insurance?
An occurrence is a loss, or a claim filed on the policy.
