A liability insurer has two primary duties to an insured who has been sued: (1) a duty to defend; and (2) a duty to indemnify.
The duty to defend means that the insurer is obliged, at its own expense, to hire counsel to defend the insured provided that the allegations of the lawsuit come within the ambit of the coverage of the policy. That is, for example, the liability coverage of a homeowner's policy will not be triggered to defend you if you are sued for an automobile collision.
If you have not yet been sued, but a claim has been asserted (such as by a demand letter from the aggrieved party), the liability insurer is obliged to investigate the facts of the claim. Most personal liability policies give the insurer the right to settle claims without the consent of the insured, so it may also make a payment to the claimant.
The correlative obligation of the insured is to timely notify the insured of all claims made against him/her/it, forward suit papers, and cooperate with both the insurer and the attorney hired to defend the suit. The cooperation includes meeting with the attorney as needed, responding to requests, attending depositions, attending trial, and other activities.
The second main obligation of a liability insurer is to indemnify the insured, meaning, to protect him/her/it from financial loss. This involves paying damages for which the insured may be found legally liable (within policy limits). Again, the insurer usually has the right to settle claims when it deems it in its and the insured's best interests to do so. Indeed, the insurer has a specific duty to settle claims within policy limits when it is possible to do so (that is, when the claimant will accept that amount of money in return for a release of the insured of further liability).
If you have liability for an accident, you will need to contact your insurance company. If you do not have liability insurance, you may need to pay for the accident out of pocket.
If another person was at fault for the accident, you will need to go after their insurance company. If you are liability only, your insurance company will not pay for anything.
Yourself and the cargo you are carrying should be covered under this insurance. It also protects your company from liability in case of an accident or emergency.
If the accident is your fault, your insurance company is not going to pay out anything. If it is the other person's fault, the other insurance company will be liable.
It does not matter to an insurance company that the other driver had a suspended license. Liability is determined by the factors of the accident and the evidence put forth. The fact that the other driver had no license does not affect liability or the handling of the claim.
Many types of insurance is sold at insurance markets for example, you might be able to find; auto, health, accident, casualty, life, property, liability and credit insurance. Of course it varies from company to company.
Car insurance in general is not built for you when you are not at fault in an accident. You should complete a police report and and contact an attorney to help sue the at-fault party. If you have just liability you are not paying your insurance company for help in this matter. Liability pays for the damage you cause when you are at-fault in an accident.
yes, if your states liability statue is a ''comparative negligent' state which it must be.........
Certainly, liability insurance has nothing to do with who owns the vehicle. It deals with protecting the owner of the vehicle if sued as a result of an accident. Collision and theft protect the owner of the vehicle from loss.
If you only carry liability insurance, that is all that the insurance company is liable for in this state.
From any insurance company of your choice.