The meaning of EXCESS INSURANCE is insurance in which the underwriter's liability does not arise until the loss exceeds a stated amount and then only on the excess above that amount.
Coded excess is considered more accurately to measure exposure than averaging methods.Coinsurance –property insurance – a portion of the loss the insured pays when the property was not insured to eighty percent of value. The amount of coverage the insured had on the property, divided by the ...
deemed eligible by the Commissioner as a surplus lines insurer or from any other entity authorized to provide said coverage in this state pursuant to law, covering losses in excess of an amount set forth in insurance contracts on a specific occurrence, or per accident or annual aggregate basis....
Other Insurance means insurance available to any covered person that covers a loss to which this policy applies, other than either primary insurance or insurance specifically purchased by you to be excess of the insurance afforded by this policy. Co-insurance means the percentage of the usual, rea...
One important thing to note about credit card rental car insurance benefits is that they’re usually secondary, meaning they will kick in after your personal insurance policy or the insurance coverage offered by the rental car company are utilized. Safeguarding Your Journey with Car Rental Excess ...
If your damages are more than your deductible, your insurance will pay all the damages in excess of the deductible, up to the vehicle’s value. Comprehensive coverage also is the coverage type for glass damage coverage. The most common glass claims are windshield replacements. An example of wh...
For example, one policy might offer free repairs if your windscreen is damaged or destroyed, another may charge you an excess. Some insurers offer additional extras as part of comprehensive policies, while others won’t unless you pay extra for them. For this reason, it’s best to compare...
Whole life insurance is a type of permanent life insurance that pays a death benefit when you die. These policies, which include traditional whole life,universallife andvariablelife, provide life insurance protection for your entire lifespan. They also offer level premiums, meaning your monthly paym...
Whole life insurance policies are further distinguished as participating and non-participating plans. With a non-participating policy, any excess of premiums over payouts becomes profit for the insurer. However, the insurer also assumes the risk of losing money. ...
Excess insurance covers a claim after the primary insurance limit has been exhausted or used up. For example, if the primary insurance coverage limit was $50,000 and the excess policy covered another $25,000, a claim of $60,000 would result in a $50,000 payout from the primary insura...