Comments on: Insurance Facts : What Is Liability Insurance?

By: kralco626

kralco626 — Tue, 03 Feb 2009 11:25:14 +0000

Your question is way too long. Ask your insurance agent about an umbrella policy. It will cover liability above and beyond what homeowners or auto insurance will. You can get a $5 million dollar policy. You will need to raise your liability on your home & auto to the maximum limits to quality for an umbrella. But the umbrella will cover you anywhere in the world in any situation unlike your auto insurance which only covers auto related liability and home which covers anything that may happen on your property.

For instance, say your 13 yr old was playing with matches in a national forest and starts a forest fire. If the fed's come after you for damages your umbrella will cover you.

The amount of coverage you need is determined by the value of your assets. What do you have to lose?

Definition of Umbrella Policy:
Insurance policy that covers amounts above those covered under one or more other primary policies, and which does not pay until the losses exceed a certain sum. Also called an excess insurance.

By: answergrrl

answergrrl — Tue, 03 Feb 2009 01:54:21 +0000

Both parties to a contract (which is all a lease agreement is) can put in or take out any clauses they want, as long as the other party agrees to the change. You can always try to bargain before you sign. Once you sign, you have agreed to whatever is in the contract (lease), and the other party can hold you to the agreement. That is why you never never never sign before you have read the whole contract and understand everything in it and all the requirements for all parties. And, if it isn't written, it isn't part of the agreement – nothing verbal carries any weight in court.

I would be very lerry of any contract I was rushed to sign. (When I went to sign a lease one time, it stipulated no pets. After agreeing to an extra damage deposit, I got the management company to delete the no-pets clause).

By: forever_always516

forever_always516 — Mon, 02 Feb 2009 13:10:12 +0000

That's a complete waste of money. First of all, I don't think two insurance companies would allow that. Second, your state requires that the VEHICLE has insurance, not the driver. It really comes down to who has the title of the vehicle? IF the title is in your name, you better get your own insurance policy, but if the title of the vehicle is in someone else's name, legally, you can't insure a car that isn't yours. If the car is currently financed, the signer of the loan has to carry FULL coverage insurance, not liability, for the entire length of the vehicle loan.

By: mrriskey007

mrriskey007 — Mon, 02 Feb 2009 11:16:11 +0000

The company is supposed to determine fault as soon as they have enough information to do so. I assume that they want to know her damage to see if the physical damage is more consistent with her story or yours, however, they don't have to wait for her to get an estimate – they have a right to examine her vehicle and prepare their own estimate of the damage.

Unfortunately, as you are not their insured you have little leverage other than getting an attorney and filing suit. You don't say if you were injured. If you weren't, it probably won't be worthwhile. If you have coverage, submit the claim to your company. They'll repair your car and go after her insurer for reimbursement. If you don't have coverage, and the damage is less that $5,000 (or it might be $7,500), file a suit against her in Small Claims Court. That should get some action.

By: danny

danny — Sun, 01 Feb 2009 14:15:17 +0000

Your liablility insurance covers you, your vehicle, and occupants in it. When you drive someone else's vehicle, their insurance would cover first in event of an accident, but yours would be used secondary

By: karen

karen — Sun, 01 Feb 2009 13:02:31 +0000

Is this the same one you just asked about in your previous question? If so, my previous answer stands. Since you have hired an attorney, listen to the attorney and quit asking here.

That's why you are paying the attorney.

By: Brian C

Brian C — Sat, 31 Jan 2009 13:53:42 +0000

It's true that if there's a loan outstanding on a vehicle the loan company require a full coverage until the loan is paid in full, when the loan is paid off the owner then has the option to take only the limited liability insurance which is the law.

If your ex continues to pay for the insurance and does not let it lapse then you shouldn't worry so much, that's what the insurance is for, incase of accidents, hopefully she'll have enough at all time to pay the deductible just incase.

By: castillb2007

castillb2007 — Sat, 31 Jan 2009 10:35:49 +0000

http://www.aicpcu.org/

Go to this web site.

They offer lots of different programs in insurance.

You may want to start out with an easy one like INS. It's 3 courses and its not hard at all. It is good introductory information.

In claims, you usually start with INS and then move onto AIC (Associate in Claims).

If you are wanting to eventually be an adjuster – these are the two to start out with.

By: Maxtraveler

Maxtraveler — Sat, 31 Jan 2009 10:28:28 +0000

Simple:

Pay for a truck to transport your car to CA. (or get it towed there)

When it is there, buy liability for it.