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I had a deferred payment and my car was stolen and never recovered. Will my full coverage or gap insurance cover the deferred payment?
Wiki User
∙ 10y ago
Most gap insurance policies do not cover deferred payments. NOTE - do not accept an offer to settle on the deferred payments. This may reflect on your credit bureau that the debt was settled for less than the ballance in full.
Wiki User
∙ 10y ago
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What is payment for insurance?
Payment of insurance is nothing but the premium paid towards the insurance policy. The premium amount includes the charge of coverage per unit (for example, the charge of coverage for $1000 might be $10. So, to have an insurance coverage for $10,000 the charge of coverage would be $100) plus the expenses incurred by the insurance company for the policy.
When was Payment Deferred created?
Payment Deferred was created in 1926.
What is the duration of Payment Deferred film?
The duration of Payment Deferred - film - is -4860.0 seconds.
Is there a period of coverage for car insurance after missing a payment?
30 Days
Will full coverage cover the insurance holder if they were injured?
If a motorist is injured by an uninsured motorist and the driver has uninsured motorist coverage the insurance carrier will provide coverage, if certain information is obtained on the uninsured driver. If a driver has Medical payment coverage or PIP coverage he or she and any passengers will be covered by the drivers auto policy Medical payment coverage.
Deferred payment and interest?
Is deferred interest deductable
Car insurance can coverage medical payment on motorcycle accident?
If you put medical insurance on the policy when the policy was purchased.
After Bankruptcy discharge you were named as a beneficiary to a life insurance annuity but you deferred payment for 5 years Do you have to tell the trustee about this?
yes
Paid 11520 for six months insurance premium what will be the journal entry?
debit prepaid insurance 11520credit cash 11520Debit Insurance Expense 1,920 Debit Prepaid Expenses 9,600 Credit Cash 11,520 This assumes the payment is made in the first month of coverage. If the payment is made before the coverage begins, the entire amount would be posted to Prepaid Expenses. If the payment was made after the coverage began (for example, in the second month of coverage), you would post the remaining number of months times 1,920 to Prepaid and the balance to Insurance Expense.
Does gap insurance cover theft?
Yes, But only if there is a gap in the final loss payment by the underlying auto insurance policy. If there is no underlying Auto Insurance theft coverage then the Gap Policy is null and void and no coverage would ensue.
Does cheap travel insurance offer the same protection as more expensive coverage?
With any insurance, you will pay for coverage. The more you add to a policy, the more the insurance company is going to cover. Think of it like car insurance. Do you want them to pay for your car accident or do you want to pay out of pocket? Do you want the higher monthly payment or the lower payment that can leave you stranded in an emergancy.
Lapse in car insurance?
A lapse in your auto insurance is a time period for which you had or have no coverage. Either your policy expired and was not renewed on schedule meaning you missed your renewal payment or you missed a monthly payment and the policy was cancelled.
