I called my insurance company related to "vehicle rating group". They told me various makes and models are rated by the IRG (Insurance Rating Group) based on their safety statistics, e.g. if a certain make, model and year vehicle is involved in a proportionately higher number of accidents, the comprehensive and collision portion of your rate is increased.
several hundred dollars
That's what liability is all about. The keyword here is liability, which covers any incidents you may be liable for. Your policy will cover the vehicle, subject to policy limits. What happens if the damage you cause exceeds your policy limits, that I am unsure of.
No. A commercial liability policy specifically excludes liability arising out of the ownership, maintenance or use of a motor vehicle.
It can affect: 1. Your insurance premium (for your own vehicle, or your parents vehicle if you are on their policy. 2. Your employers insurance premium (if you drive for work) It will NOT affect: 1. Your friend's premium, unless you are scheduled as a driver on the policy
Not necessarily. Vehicles must be listed on the policy and a premium paid for the coverages desired. Some companies give a certain number of days coverage when you purchase a new vehicle and some do not provide coverage until you notify them to add the new vehicle to the policy.
NO. If the owner of the vehicle has insurance and you have their permission to drive the vehicle then their insurance would cover you. Otherwise the owner of the vehicle could add you to their policy.
I doubt you can get any policy without some money down.AnswerNo company is going to provide you a commercial general liability policy without collecting your initial premium payment.
If you change vehicles on your policy it will create a difference in insurance premium. You will receive a bill or a refund for the difference in the premium. There is no policy fee just the premium change.
A named insured person can be an excluded driver on an automobile liability policy in New Mexico, if the policy holder wishes to remove a driver from the policy. The policy holder will have to notify the insurance company to make the changes.
Yes many Liability Policy are subject to audits which occur on policies after the term dates. The reason for this is that the original policy premium is generally based on estimates of of the exposure basis (i.e. payrolls, receipts, etc.) The insurance company is entitled to audit at the end of the policy term to adjust the premium to reflect the actual exposures.
I would say that you need a policy for the entire year. The reason I say this is because of claims purposes. A general liability policy can be a reasonable premium for the year. I have several markets with competitive rates now so they are out there.
If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.