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
process of discovering sources of loss concerning the liability risk faced by individuals and business firms. The first step in risk management is to identify the causes of a loss by ...
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Frequency of death. ...
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Same as term Expiration: termination date of coverage as indicated on the insurance policy. ...
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Sum it takes to replace an insured's damaged or destroyed property with one of like kind and quality, equivalent to the actual cash value, minus physical depreciation (fair wear and tear) ...
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