Reso 2012-1958 - Laserfiche WebLink

Home Browse Search

AUTOMOBILE DEFINITIONS Liability Coverage The liability coverage of the commercial auto policy provides protection against legal liability arising out of the ownership, maintenance, or use of any insured automobile. The insuring agreement agrees to pay damages for bodily injury or property damage ' for which the insured is legally responsible because of an automobile accident resulting from the ownership, maintenance, or use of a covered auto. The insuring agreement also states that in addition to the payment of damages for which the insured is legally liable,the insurer also agrees to defend the insured for all legal defense cost. The defense cost is in addition to the policy limits. Owned Automobiles Covers the liability arising out of the ownership,maintenance or use of automobiles. Personal Injury Coverage is included for vehicle passengers under No-Fault Law Protections provisions. Medical Payments The insuring agreement states that the insurer will pay all reasonable Coverage and necessary medical and funeral expenses incurred by an insured because of bodily injury caused by an accident. The insured is the named insured, the insured's employees and guests, and any other person occupying a covered auto. These payments are made without regard to fault. Uninsured/Underinsur Protects insureds who are not contributorily negligent against bodily ed Motorists injury caused by negligent under insured or uninsured drivers and hit- and- run motorists. Hired Automobiles Covers the liability for the use of hired automobiles in your business. Non-Owned Covers the liability for the use of non-owned automobiles in your Automobiles business. An example would be an employee using his own car on an errand for you. Comprehensive Pays for loss of or damage to automobiles from perils other than collision. Collision Pays for loss of or damage to automobiles from collision with another object or upset. Rental The business auto policy provides a coverage extension if an auto is Reimbursement insured for comprehensive or specified cause of loss coverage, which insures against loss of use of a covered auto only if the auto is a private passenger type auto and is stolen. The coverage extension pays up to a daily limit of $10 and a maximum limit of $300. Payments begin forty-eight hours after the theft and ends when the insured auto is returned or when the insurer has paid the insured for the auto. For broader coverage, the insured can pay an additional premium for rental reimbursement coverage. Rental reimbursement pays the cost of renting a substitute auto for replacement of any covered auto that has suffered a covered loss. The daily and maximum limit for this coverage varies among insurers. 55