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What happens if your property damage insurance is not enough to cover the claim?
Wiki User
∙ 13y ago
You will be liable for the difference.
Wiki User
∙ 13y ago
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How much property damage is covered in liability car insurance?
That all depends on your insurance and how much damage they feel was done. If they don't cover it, or if you don't have enough insurance, they can file a law suit.
Can you be sued for not having homeowners insurance and my neighbors property is accidentally has fire damage due to a fire on my property?
absolutly, and he can take everything you have if you don't have enough to pay his damages!
What is the minimum type of vehicle insurance required by law in Alberta?
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 damage, 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.
What does adequate insurance mean?
The term "adequate insurance" refers to having sufficient insurance coverage with an authorized insurer to provide you with enough protection for the financial losses that you could reasonably incur. This includes damage or destruction to property that you own or lease, or damage sustained by other parties as a result of your own negligence. The amount of coverage that translates into "adequate insurance" depends upon the interest(s) that you wish to protect.
How do you handle an auto accident on private property with no insurance?
Generally speaking, the person responsible for the accident is responsible for the damage. If the responsible person refuses to pay ot doesn't pay fast enough, the other can sue them if they wish.
Does homeowners insurance cover pets for injury?
Property damage from petsIf the damage is to your own property, no, this would be normal expected wear and tear incidental to pet ownership. If the damage is to someone else's property, maybe, depending on whether you have liability coverage and that you do not have an animal exclusion on your policy.Did your dog get loose from the house or yard? Was the property that was damaged at your own house? There is not enough information here to give a good answer.
How do you repair property damage on Mafia Wars?
if your property is damaged, an icon will appear on the page that says repair cost. if you have enough money and click repair, the life of the property will be back to full.
What happens when you hit someone in a car accident then find out you don't have enough insurance to cover all their damages?
Once your insurance has paid, you are responsible for the rest.
What happens when you tie a knot in a lead of a circuit?
Unless you pull it tight enough to damage the insulation - nothing.
Include Adequate Property Damage To A Liability Car Insurance Policy?
Drivers who cause an accident are not only responsible for the costs associated with personal injury but also those costs to repair or replace damaged property. Liability insurance is constructed in such a way that both costs are included in the policy. Although most states require liability car insurance many drivers find the amounts included in their policy is insufficient to cover all the costs resulting from a single accident.Choosing A Coverage MaximumEvery liability insurance policy contains a section regarding coverage for damaged property. This amount should be carefully considered by the insurance shopper as it can be modified if the customer desires. The property damage suffered by a non-fault party can be significant. The value of the vehicle struck may mean a significant amount of money is required to restore the car to top condition. Property damage refers not only to cars but also other possessions. If a driver loses control of his or her vehicle and rams a homeowner's fence, damage to this property is covered by the at-fault driver's liability policy.In consideration of the large monetary costs associated with property damage, drivers are encouraged to look closely at the minimum requirements in their state and think about the possibility that this amount may not be sufficient to cover the costs of these damages. Most insurance providers will not charge much more per month if the maximum property damage protection is doubled. Consequences Of Protection ShortageIf a driver causes an accident resulting in a significant amount of property damage, the non-fault party will have to settle for any amount offered by the at-fault driver's insurance company. The problem occurs when there is not enough protection carried by the at-fault driver. Many vehicle owners carry uninsured motorist protection but this coverage usually applies only when the at-fault party is carrying no liability coverage at all. Most insurance companies do not construct their uninsured motorist protection packages to act as gap insurance. This leaves the non-fault party with no recourse but to pay the balance out-of-pocket. In some cases a lawsuit may be the only way to recover the additional costs and this can be a frustrating procedure for both parties.When shopping online for affordable car insurance it is wise to check out the rates for property damage liability protection. This figure can be increased with or without additional coverage for bodily injury protection.
What's the definition of earthquake damage?
Earthquake damage is the damage to property and life from the ground vibrations during an earthquake. The Richter scale is one way to measure the scale of earthquake damage. For example, a magnitude of 5 is strong enough to damage weak buildings.
What is No-fault Insurance, and can I get it for my entire family with Allstate?
no-fault insurance Provides coverage if you, a family member, or your passengers are injured or killed in a covered accident involving a driver who doesn't have insurance at all or who doesn't have enough insurance to cover the damage they cause you.
