Insurance companies use transaction categories to track every stage of a policy’s lifecycle. Each code represents a specific event—whether it’s starting, updating, renewing, canceling, or auditing a policy. Here’s a [...]
What is an insurance endorsement? Insurance endorsements allow you to change standard property and casualty insurance. It is mainly used for any kind of additions, subtractions, and other updates to [...]
Introduction Irrespective of the kind of insurance coverages you are looking for, the ability to get the best auto insurance quotes at reasonable rates in the U.S. is not [...]
Parking - Parking is the primary parking location for the vehicle. It is the main parking area where vehicles are parked when not in use. Usually, it's the house [...]
MVR Stands for Motor Vehicle Record/Report. In a Motor Vehicle Report a summary of a person’s driving records like past accidents, and traffic violations are noted. The MVR is [...]
Introduction Whether you have a car, a motorcycle, or an RV(Recreational vehicle), all these modes of transportation need Auto Insurance most of the time almost in all states. In [...]
Introduction Car safety plays a crucial role to diminish the occurrence of a vehicle accident and its consequences. Safety devices that protect passengers in the event of an accident [...]
Property Damage Liability Among many types of coverage, Property Damage Liability coverage is quite common and popular. Damage caused to somebody’s property by an insured person is covered under [...]
Introduction Auto insurance is defined as a contract between the insured and the insurance company that protects the insured against financial loss in the event of an accident or [...]
Introduction Suppose your insured car is totally wrecked and unrecoverable after a major accident or stolen. Your auto insurance may give settlement based on the car’s actual cash value, [...]
Rate Class Rate class is a categorization that is used to indicate the way in which a vehicle is being used by a driver. It is one of the [...]
Insurance is a term that usually means protection from financial loss. It is basically risk management, which is used to hedge against the risk of a contingent loss. Different [...]
Introduction Comprehensive coverage in an auto insurance policy is also referred to as OTC(other than collision) coverage. The name of this coverage policy makes its definition more clear because [...]
