The No-Fault Law requires minimum insurance coverage of?
A. $10,000 Personal Injury Protection and $10,000 Property Damage Liability
6 people found this useful
Answer . In Alberta the minimum type of vehicle insurance is liability insurance, and you must have a minimum of $200,000. This covers both bodily injury and property dam…age, but if the claim is hgiher then this amount the insurance company will pay no more the $10,000 property damage.. Remember that any damages over your liability amount will be your responsibility to pay, so it is best to ensure you have enough liability insurance for your needs. It is recommended to increase this liability amount to $500,000 or $1,000,000 for full protection.
Answer . All states have required minimums on the different required liabilty coverages, but remember that isn't always the smartest thing.. For example in MO, the minium …property damage coverage is 10k, (this pays for the damage to the property of others that you are responsible/liable for), you can't get a used car for 10k anymore, so if you total another vehicle that is worth 17k and only have this min. of 10k, you are on the hook for the additional 7k...see?
Cannot be answered here - that information should appear in the contract language of the policy. Generally, however, the insurance agent will take a deposit premium for the a…nticipated first month's premium at the time that the application for coverage is taken. The application is essentially an offer to purchase insurance. The insurance company than analyzes the answers given on the application application in accordance with its underwriting guidelines. Those guidelines lay out the types of risks that the insurer is willing to accept and for what price (premium). If a policy is issued (because the insurer is willing to accept the risk as identified in the application), a policy will be issued. The front page of the policy is called the Declarations, and will show a summary of the coverage, as well as the due date and amount of subsequent premium payments. If the insurer decides not to issue a policy for a reason that is not prohibited by law, the deposit premium will be returned.
The minimum amount of liability insurance coverage required (in California) is: 15/30/5. 15/30/5
It varies by state to state. It also depends on if your state laws are at-fualt or no fault. In Colorado we're a at-fault state, which means you only required to carry liabili…ty. These limits are 25/50/15. That means 25k per person and 50k for the total accident. That covers hospital bills, if they were to sue you(attorney fee's and court fees, etc), and lost wages and whatever else you might be held responsible for. 15k total property damage. Remember liability only covers damages to a 3rd party. (for example: the person you hit and you were at fault). All other coverages are optional. Such as Medical Payment's, or also known as P.I.P. or personal injury protection. Physical damage coverage for the vehicle is also optional along with towing and rental car reimbursement.
This depends on the state you live in. In some states it is 15/30/5. In other states it is more. You should check the DMV's website for the state you live in or check with a l…ocal insurance agent.
See the link to Virginia law at the bottom of this page-
What is the minimum amount of liability insurance coverage required for small businesses in the state of Florida?
If you are speaking of non-auto liability insurance for your business, the state imposes no requirements. That said, if you lease business space from a third-party, the lease …may prescribe minimum insurance limits, and will generally require that the landlord be named as an additional insured. The amount of non-auto liability insurance that it is prudent to have is another question. It depends upon various factors, not the least of which is whether your business is open to the public (such as a store). If it is not, you will still want liability insurance to cover potential risk exposures relative to the products that you produce or sell. Overall, you have to look to the risk factors attending your business, and assets that you wish to protect. Your best bet is to consult a licensed commercial insurance agent/broker.
When your company offers health insurance are you required by law to have health coverage to work Do you have to opt in?
If you are required by law to carry insurance, you can either have it through the employer or provide your own. They cannot legally force you to opt in to their coverage.
Each state in the U.S. regulates it's own minimum requirements for Auto Insurance coverage. All you have to do is ask your insurance agent or company and they can tell you the… minimum requirements for your state.
If you are victim of an accident caused by a person with minimum insurance, then it would limit how much you'd be able to collect from the at fault driver's insurance. But yo…u could still try to gain personal assets from that at fault driver. If you are the driver who caused the accident and you have minimum insurance, then the person(s) you hit could potentially exhaust all the money in your state minimum policy and then come after you for more money if they are deemed to need it. The courts will require you to liquidate certain assets and turn them over to the victims. It could potentially bankrupt you, depending on your state's laws over what you can shield from liquidation. This is the main reason why you should almost NEVER drive with just the state mandated minimum unless you have to.
The minimum amount of coverage allowed varies between states or jurisdictions. In Georgia the minimum limit is 25/50/25 which means a liability limit of up to $25,000 per pers…on with a max of $50,000 per accident for bodily injury and up to $25,000 for property damage. It was changed some years back when it was 15/30/10. For most people both of these limits are very low if you think about what medical costs and vehicles now cost. Just because you have minimum limits does not make your liability any less. If you are at fault in an accident you are still responsible for the damage done to the other party, their passengers, and their property. The limits on your policy is what you decide to purchase. The cost is minor to increase your limits and I suggest that you ask your agent to show you different limits and coverages before deciding on the lowest allowed by law.
This is different based upon the laws of the state where the person lives. Many different states have completely different limits of liability required to register your vehicl…e. Some also require other coverages besides just liability coverage.
The minimum liability insurance requirements for any vehicle in Delaware is 15/30/10 and you must also have PIP coverage. 15/30/10 means the most the insurance company can pay… is $15,000 liability per person for bodily injury, up to a maximum per accident of $30,000, and a maximum of $10,000 property damage per accident. This is extremely low. You can do more than $10,000 on a new vehicle in a minor accident. You are responsible for any more damage that occurs over these limits. If you have a job or a home you certainly don't won't to purchase minimum limits in Delaware.