Pay-at-the-pump Plan
Automobile insurance plan, debated for a number of years, that is financed through a surcharge of a given number of cents per gallon (estimates run from 30 to 40 cents) to be paid by the purchaser of the gasoline. The plan would operate on the NO-fault automobile insurance basis. Claims would be paid from an insurance pool whose funds would be generated by the surcharge. Drivers would receive unlimited medical coverage, up to $25,000, for missed wages and collision damage. Drivers would be required to pay a $250 deductible. Those drivers desiring additional lost wages or damage coverage, could purchase it separately.
Popular Insurance Terms
Provision of a property insurance policy which covers conditions usually present in a particular location. For example, there is an inherent risk of explosion in a flour mill. ...
Bill that allows the insurance company to include a clause in its policy that permits the policyholder to make a policy loan at a variable interest rate on new policies. Under this clause, ...
Coverage in which individuals who cannot obtain conventional automobile liability insurance, usually because of adverse driving records, are placed in a residual insurance market. Insurance ...
Estate under the legal and administrative guidance of both the surety and the fiduciary. Any actions on the part of the estate requires the signatures of both in order to reduce the chances ...
Allocation of monetary resources to equities. ...
Combination of several policies with each adding an additional layer or limit of coverage above the limits of the policy that comes before it. For example, Policy A adds $100,000, then ...
Person, business, or organization specified as the insured (s) in a property or liability insurance policy. In some instances, the policy provides broader coverage to persons other than ...
Coverage for property damage or destruction of an insured's property and liability exposure of an insured for damage or destruction of someone else's property under his or her care, ...
Statutory liabilities minus the interest MAINTENANCE RESERVE minus the ASSET VALUATION RESERVE. ...
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