Replacement Car
Automobile purchased or leased by the insured or the insured's spouse that takes the place of the insured or the insured spouse's present car as covered in the personal automobile policy (pap). It will have the same coverage as the vehicle it replaced. The insurance company must be notified within 30 days of delivery of this car to the insured or the insured's spouse only if the insured wishes to add or continue physical damage coverage.
Popular Insurance Terms
Act by a company that authorizes an agent to act on its behalf. ...
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Death benefit option in which a beneficiary of a life insurance policy receives the death benefit as a single sum payment instead of installments. ...
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Trust in which a charity receives income from a donated asset for a specified number of years that it is held in that trust. After the specified period concludes, the principal is ...
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