No. The insured must be the owner of the vehicle. You cannot insure something that you do not own. This is in any state. You don't want to find this out when you have a claim. The insurance company cannot pay a claim on a vehicle where the owner of the vehicle is not the insured on the policy. As a matter of full disclosure, I own and operate a small Independent Insurance Company in Central Georgia and have for the past 22 years. Prior to that I worked as an agent for a direct writer of insurance for 3 years.
For the loss or damage, the assured will often have a claim against another party, ex the carrier f the goods or the owner of the ship that collided with the insured ship. The assured however must not take advantage f the damaging event and claim twice.
This is the amount paid the policyholder on an annual basis to cover the cost of the insurance policy being purchased. In effect, it is the primary cost to the policyholder of transferring the risk to the insurer. Important to keep in mind, though, is that this will not be the only cost incurred to maintain the insurance. Depending upon the type of coverage involved, there may be deductibles and copayments, which are forms of cost-sharing between the insured and the insurer. A deductible is the amount that the insured must pay toward a covered claim before the insurer's obligation to pay is triggered. For example, if one maintains a $250 auto collision deductible, the insured is responsible for the first $250 in repair costs for a covered claim. A copayment is a type of cost sharing frequently found in health insurance policies, although deductibles also exist there. A copayment is the percentage of a covered claim for which the insured is responsible once the deductlble has been met.
If death occurs within first 2 policy years, a life insurance company can deny a death claim if they can prove that the insured lied on the application and that the lie was material to their decision in taking on the risk. After policy has been in force for 2 years, the life company must pay the claim, even if the insured did lie. Never tell a lie to a life insurance company.
No; this is a copayment (or "copay"). A co-insurance is a percentage that the insured is responsible for after meeting their deductible.
You need to add him to your insurance or he must have his own. Your boyfriend is not automatically insured.
You must have an insurable interest to effect valid coverage. Property must be insured in the name of the owner. So if you want to buy someone else a policy for their property you can certainly pay the bill for some else's property insurance but you can not insure it in your own name. If you insured someone else's home in any name other than the legal property owner and it burned down or suffered some other loss, the Insurance company can not legally pay your claim simply because the property does not belong to you. They would also not have to pay the owner because he or she was not an insured on the policy. The proper way to insure it would be under the name of the legal owner, If you also have an insurable interest in the property, then your name can be added as a co-insured. Should a claim arise, the claim check would be issued under both names.
Before a claim can be allowed, a material damage claim must be admitted. There may be circumstances when the interruption results from damage on another insurance Policy - e.g. a supplier's etc. In this case, it is imperative that the wording is sufficient to react to 'any' material damage caused by an insured peril.
No, but car has to be insured to register it & keep it registered. to take the driving test, the car you use must be insured.