23 06, 2020

What is PIP (personal injury protection)?

2023-04-24T11:15:22+00:00June 23, 2020|Insurance|0 Comments

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| ByWinsurtech

Personal injury protection (PIP), also known as “no-fault insurance” in US (applicable to no-fault states)  is a component of an automobile insurance plan that covers the medical expenses of the insured and passengers associated with a car accident. PIP covers medical expenses for both injured [...]

23 06, 2020

Who is an Insured?

2023-04-24T11:16:36+00:00June 23, 2020|Insurance|0 Comments

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| ByWinsurtech

Insured is a person whose interests are protected by an insurance policy, means he/she is the person who has got the insurance done for his/her interests (interests means the life or assets for which the insurance is purchased). An alternative but similar wording is - [...]

23 06, 2020

What is Named Insured?

2023-04-24T11:16:57+00:00June 23, 2020|Insurance|0 Comments

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| ByWinsurtech

The name of “named insured” is mentioned there in the policy as an insured. A Named Insured is any person, firm, or organization, or any of its members specifically designated by name as an insured(s) in an insurance policy. This is different from others who [...]

23 06, 2020

What does ADDITIONAL INTEREST mean in Auto insurance?

2023-04-24T11:17:35+00:00June 23, 2020|Insurance|0 Comments

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| ByWinsurtech

Introduction In insurance terminology, Additional Interest means an uninsured or insured third party that is named in the insurance policy as having an interest in the insurance policy of the holder. For instance: if there is any change made in the policy of the insuree [...]

19 06, 2020

What is a Personal Auto Insurance Policy?

2023-04-24T11:18:14+00:00June 19, 2020|Insurance|0 Comments

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| ByWinsurtech

Introduction A personal auto policy also known as PAP is an insurance policy that is purchased by a vehicle owner to provide insurance coverage for damage or injury to others, in the form of liability insurance. Along with the liability coverage, it can also provide [...]

17 06, 2020

What does mortgage insurance mean?

2023-04-24T11:19:10+00:00June 17, 2020|Insurance|0 Comments

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| ByWinsurtech

Introduction A mortgage is defined as a loan from a bank or other financial institution that helps a borrower to purchase a property. The borrower and the lender(usually a bank) enter into an agreement. According to this agreement the borrower receives cash in advance from [...]

15 06, 2020

What is a commercial package insurance policy?

2020-06-15T06:27:04+00:00June 15, 2020|Insurance|0 Comments

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| ByWinsurtech

Introduction Commercial package policy commonly known as a CPP is an insurance policy that is designed to protect a business from various types of commercial risks. It combines coverage for multiple risks, such as liability and property risk in a single policy. Under a CPP, a [...]

11 06, 2020

What is a Multi-car discount in Auto insurance?

2023-04-24T11:19:45+00:00June 11, 2020|Insurance|1 Comment

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| ByWinsurtech

Introduction to Multi-car insurance As we all understand that bulk buying in day to day purchases can save our money, but did you know this methodology also works on your car insurance? Many auto insurance providers can offer 10 to 20 percent discounts on the [...]

5 06, 2020

What is a SINGLE LIMIT LIABILITY (CSL) in Auto Insurance?

2023-04-24T11:22:26+00:00June 5, 2020|Insurance|0 Comments

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| ByWinsurtech

Introduction Single limit liabilities are the insurance policies that may have combined single limits. It states a single dollar limit that would apply to any combination of property damage liability, bodily limits as compared to split limits where separate dollar amount applicable to each accident [...]

3 06, 2020

Types of Insurance Marketing Systems

2023-04-24T11:23:21+00:00June 3, 2020|Insurance|0 Comments

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| ByWinsurtech

Introduction to the Marketing system An insurance company requires a lot of customers to become successful. The basic earning of insurance companies holds on the premiums paid by the insured parties. In this concept, the insured person or organization receives financial protection and reimbursement of [...]

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