1MHG (Message Header Group) The 1MHG (Message Header Group) is the very first structural group that appears before any transaction in an AL3 message. Its primary functions include: 1. Logical [...]
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 [...]
The Individual Retirement Accounts ( IRA’s ) are tax-advantaged accounts that individuals can establish to accumulate funds for retirement. It is depending on the types of IRAs, contributions may [...]
The face value/amount of insurance is how much your policy is worth. It means the amount of coverage you bought in the policy. The face amount is the primary [...]
Personal auto insurance application helps in providing financial protection to you, your family, other passengers, and your vehicle. You can choose the amount of protection by Selection of coverages [...]
Introduction Insurance is all about just in case. Liability insurance is purchased just in case you have an at-fault accident and someone gets hurt or property gets damaged. Collision [...]
Introduction Auto insurance is defined as a contract between the insured and insurance carrier that protects the insured against financial loss in the case of an accident or theft. [...]
