Accident

This is an unplanned, unforeseen or unintended event beyond the control of an insured, resulting in the loss of property (ies) e.g. car. The incurred loss can be compensated as a claim to the claimant by the carrier. The claim is based on what is observed and the actual cash value of the car or items involved.

Auto insurance companies try in the best of their abilities to supply sustainable, efficient, quality, and affordable policy coverage to their policyholders. They also aim at increasing the savings of their insured to meet specific needs e.g. building a big collection of policyholders.

Posted in: Glossary of Auto Insurance (A)