Casualty

This refers to the loss or liability of the insured resulting from an accident, damage, storm etc.

The policyholder can then be compensated for the incurred loss of the car from such incident. This is usually done as a claim and carried out by the adjuster.

It is often one of the major causes of a claim by the policyholder. When there are more casualties, there will likely be more claims.

Conversely, when there are few casualties, there will most likely be few claims. But this is mainly based on the policyholder qualification of the conventional liability coverage and the policy terms of the insurer.

Posted in: Glossary of Auto Insurance (C)