Collision Damage Waiver
Definition of "Collision damage waiver"
Special property damage coverage purchased by an individual renting an automobile under which the rental company waives any right to recover property damage to the automobile from that individual, regardless of who is at fault. A significant fee is paid by the individual to the rental company for this waiver for coverage that may already be provided by a personal automobile policy (PAP).
Popular Insurance Terms
Rule concerning stock sold and then repurchased or a similar security repurchased (warrants or options) within 30 full days before or after the day of the sale. Losses established from such ...
Series of premium payments made to purchase an annuity. This is the same method of purchase used for level premium insurance ...
Agent with the authority from an insurance company to prepare and to place into business an insurance policy. ...
Bond that provides additional security for a loan. ...
Written notice, to be submitted by the claimant, required by the insurance company in the event of an insured peril. This notice is part of the standard property and casualty insurance ...
Loss caused by two or more perils. A certain amount of controversy exists when one of the perils is insured and the other peril is excluded from coverage. Some courts are beginning to find ...
Distribution of a deceased beneficiary's share of an estate among that beneficiary's children. Contrast with per capita. ...
Time interval during which policy is in force. ...
Coverage for a practicing physician, surgeon, or dentist, when bodily injury, personal injury, and/or property damage is incurred by a patient and the patient sues for injuries and/or ...
Have a question or comment?
We're here to help.