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Who is liable for car A's deductible if both car A and B are insured and A rear ends B and lies that they were hit and run by car C but car B has no damage?
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Who is liable for damages from an hit-and-run unlicensed driver and the insured owner of the vehicle was the passenger?
Both the Driver and the Owner are liable for the damages. The driver, whether licensed or not is the primarily liable party. The insured passenger owner is secondarily liable for damages by the unlicensed driver he permitted to operate his vehicle.
What would happen if a friend lets you borrow his insured car and you get into an accident but you do not own a car or have insurance?
I believe most insurances will cover the damages if the car is insured and you have a license, but if you do not have a license the insurance will not cover anything you are both liable. Your friend is liable for loning you the car without a license and you are liable for driving it.
Both parties in accident have geico ins. who pays for deductible?
If you are at fault, your policy will pay for the other person's damage under your property damage coverage. If you have collision coverage, you will have to pay your deductible if you are at fault.
If your parked car was hit and the at fault driver was found what options are available if both parties are insured and you have a 500 deductible?
All the damages will have to be paid by the other party's insurance company. Your deductible isn't applicable.
What are the deductibles of auto insurance?
Typically, auto insurance deductibles come into play with respect to collision and comprehensive coverage--both of which apply to physical damage to the insured vehicle. Some States also allow an insured to elect a deductible with respect to No-Fault coverage. This coverage is required by law in virtually all States. The rules concerning No-Fault deductibes are prescribed by law because the coverage is mandatory. Deductibes of all types can be likened to self-insurance. That is, the insurance company's responsibility to pay does not attach or begin until the deductible amount has been reached. For example, if a vehicle owner has a $500 collision deductible, and physical damage to the car is $1500, the insurer would pay $1000 and the insured would be responsible for $500. Stated otherwise, the insured "self-insures" for the first $500. Physical damage deductibles come in various amounts, but are fairly standard between companies. Deductibles can range between $100-$500 or more. Generally, a higher deductible translates into a lower premium because the insurer's responsibility for payment does not attach until after the deductible amount has been reached.
How is a deductible different from a premium?
Both terms relate to insurance, but mean different things. A deductible is the amount of money that the insured has to pay toward a covered occurrence before the insurer's obligation to pay anything is triggered. For example, if an auto policy had a $250 collision deductible, the insured would be responsible for the first $250 in repair costs; the insurer would pay the rest. The theory is the same in the case of health insurance. A premium is the amount of money that the insured pays in return for insurance coverage. In other words, it is the price of the policy. It is generally payable on a monthly, quarterly, semi-annual or annual basis.
What is double deductible in car insurance?
I'm not sure what you are talking about. The only place where I can think that you may incur two deductibles is a situation where you back into your own vehicle. This could cause you to have two deductibles, one for each car. Often times, companies will waive one of the deductibles in this case. Damages cannot be paid under liability coverage because you can't be liable to yourself. In a situation where you back into someone else's vehicle, you liability would pay for their cars damages and your physical damage will pay for your damage to your car. If you hit another vehicle that you own, since you can't be liable to yourself, liability doesn't come into play at all, so damage on each car is paid under physical damage on each one as long as you have this coverage on both vehicles. In this case you normally would have to pay a deductible on each car but most companies waive the lowest deductible so that you only have one, and they also only charge the accident against one vehicle.
What is a health insurance deductible?
It's basically the amount of (in this case, medical) expenses that an insured person has to pay before the insurance kicks in and starts to pay. The trend is to modify the basic "all or nothing" deductible concept to include "co-pays", where the insurance pays for certain types of services (such as an annual health examination) even before the deductible is met, with the insured paying a token amount (say, $10) for the service and the insurance picking up the rest. This is beneficial for both parties: the insured doesn't have to come up with the full cost of the exam, and the exam may discover a condition early, while it can be treated easily and cheaply (therefore saving the insurance company money in the long run).
Would you have to pay two deductibles if you hit one of your cars with another?
Ordinarily, if both cars were insured under the same auto policy, many insurers waive the deductible on both. This is likewise the case if two unrelated insureds of the same insurer have a collision.
If you backed your own car into your other car and both suffered damage how will your deductibles and fault be applied and will this likely increase your rate on one car?
Normally both these vehicles would be on the same inscuance policy. If this is the case, usually the Insurance Company will only have one deductible. With any accident there is a chance that there can be an increase. This would be considered At Fault. It is also possible that your policy has a clause which EXCLUDES a collision between two vehicles on the same policy. The person who was driving will be considered at fault for the damage to both vehicles. The collision deductible on the car that was moving would apply to the damage on that vehicle and there would not be a deductible for the damage to the parked vehicle. Rate increases will depend on many variables and will be determined by your individual insurance company's policy.
What Physical Damage is usually covered with Auto insurance?
Damage to both people and property are covered by auto insurance. Aside from protecting the insured against the claims of others (for bodily harm or property damage, for example), auto insurance typically helps pay for medical expenses needed by the insured or other person involved in the accident AND it covers costs leading to loss or damage of the automobile stated in the insurance.
What is the auto dudctable insurance?
In terms of auto insurance, the deductible is the amount the policyholder is committing to pay if their vehicle is damaged or stolen before the insurance company is responsible for paying out a claim. A deductible applies to both comprehensive and collision physical damage coverage. Comprehensive will pay for damage or loss to your vehicle resulting from fire, theft, vandalism, hail damage, and wind. Collision pays for damage caused by an accident. You will be required to choose a deductible for each coverage ranging from $0 to $2000. While higher deductibles offer lower auto insurance rates, you will be responsible for paying this amount before the insurance company will cut a claims check. Choose a deductible that is practical for your situation.
