Much depends on state collision requirements and if the runaway driver can be caught. The first thing that should have been done was to file a hit and run complaint, if the driver was able to capture the runaway vehicles license information, damages can be obtained from that person's insurance carrier. It also depends on whether the person who was driving had the permission of the owner of the vehicle to be driving it. If the owner has collision, he or she may be able to file a claim on the policy, and allow the insurance company to go after the driver of the car.
If the accident is your fault, your liability coverage will pay for the other person's damages. You will be out of luck as no coverage will be afforded for the damages to your vehicle or any injuries to you or your passengers.
A liability that arises because an expense happens in a time span former to the associated money payment.
The emergency landing is never informed to passengers.
That's what liability is all about. The keyword here is liability, which covers any incidents you may be liable for. Your policy will cover the vehicle, subject to policy limits. What happens if the damage you cause exceeds your policy limits, that I am unsure of.
This happens because an object in motion tends to stay in motion
Ordinarily, a person must be named on the policy as a user of the vehicle in order to be insured under the liability coverage. This is because in setting the premium, the insurer takes into account the driver(s) ages, experience, driving record, and other factors.
If an accrued liability is not recorded, then it is not a liability on the balance sheet. Not sure if the employee's could sue - that's a legal question - but if it was paid at a later date then it would be an expense at the time the liability was paid. If you mean to ask - what happens if an accrued liability for salaries is not paid, or is not timely paid - then the IRS can deny the deduction.
I am assuming you're interested in knowing what responsibility or liability you might have to the others involved in this scenario. This is the subject of tort law, which focuses on the responsibility a person inherently must uphold in his interaction with others. In the case where you hit something because of neglect, and it can be proven that if you were acting in a manner inconsistent with your obligation to the passengers in the car, you would then be liable financially for whatever loss was suffered (as determined by the court) by the victims. If it can't be proven that the accident was a result of your willful neglect, there is likely no legal recourse for the passengers.
When car insurance expires the car and passengers are not longer covered so when a wreck occurs there will be no help with paying medical bills or to fix the cars involved in the wreck. May be subject to a fine if not insured.
Never admit to liability in an accident. Exchange your details and let the insurance companies deal with it.
Full Coverage covers usually refers to having maximum liability, comprehensive and collision coverage on your policy. Maximum liability coverage covers third party injuries and damages when you are found at fault for an accident. It also gives you comprehensive and collision coverage that will cover repairs to your car if you are at fault for the accident, or something out of your control happens (vandalism, hit a deer). It is referred to as full coverage because your assets are covered as well as thrid party assets.
You will need your home owners insurance. That is the only insurance you will need because if something happens it is on your property and you will be covered under your home owners policy. When you rent a backhoe there will be an additional charge for insurance. You can either pay the charge or not, but you have to be careful as to what liability you're assuming when you sign the rental agreement.