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
Term meaning that an exporter of goods that are damaged or destroyed during international shipment relinquishes responsibility for the damage or destruction once the goods leave the point ...
Crime against the state for which an officer of the state can bring legal action. Society is harmed by an individual breaking the laws of the state. Usually there is no statue of ...
Particular type of inland marine insurance. ...
Coverage that pays a fixed dollar amount of interest at regular intervals. ...
Negligent acts or omissions that result in actual or imagined bodily injury and/or property damage to a third party, who brings suit against a business firm and its representatives ...
Provision of liability insurance that excludes coverage for dishonest acts of an insured. ...
Automatic right of an insured to renew a policy until a given date or age except under stated conditions. It is extremely important for the purchaser to review the conditions for renewal in ...
Attachment of decreasing term life insurance to an ordinary life policy to provide monthly income to a beneficiary if death occurs during a specified period. If the insured dies after the ...
Difference between the rent received by a lessee for the subletting property and the rent the lessee pays the lessor. ...
Have a question or comment?
We're here to help.