A contractual relationship, which exists when an insurance company, for a premium, agrees to reimburse an insured or policyholder for vehicle-related losses.
Automobile insurance is a form of insurance protection that covers losses or damages due to accidents involving passenger cars, buses, motorcycles and other vehicles. The Japanese system is anchored by a compulsory liability coverage, but drivers can purchase supplemental auto insurance on their own. Enrollment in voluntary auto insurance is growing year by year, with about 70% consisting of liability coverage for bodily injury or property damage, and some 30% consisting of coverage for the insured's auto itself. Even so, premium revenue from voluntary auto insurance fell to about 3.64 trillion yen in fiscal 2002, down for a second straight fiscal year. The premium revenue decline reflects intensifying price competition in comprehensive auto coverage for businesses ever since a premium deregulation in 1998. Personal auto insurance is also showing a decline in growth amid a slump in new car sales. Moreover, policy adjustments for accident-free drivers are putting downward pressure on per-policy premium income.
A type of insurance that protects an insured from financial losses arising from the operation of a vehicle.
Insurance against loss to the insured due to damage to or destruction of automobiles, or due to claims for damages arising from the ownership, maintenance, or use of automobiles; also, loss to persons insured in certain specific ways due to cost of medical, surgical or hospital care necessitated by automobile accidents.
insurance against loss due to theft or traffic accidents
Insurance coverage that provides indemnity and/or compensation for injury or physical damage which ensues from the ownership, use or operation of an automobile.
Insurance designated to cover losses connected to automobiles. Types of automobile coverage include: vehicle collision and comprehensive, property damage liability, bodily injury liability, and medical payments. Determination of what types of insurance to carry is contingent upon a consumer's wants and needs.
For definitions of specific types available, see following auto insurance coverages listed alphabetically throughout the Glossary - Automobile Death Indemnity Coverage, Automobile Disability Income Coverage, Automobile Liability Insurance, Automobile Physical Damage Insurance, Bodily Injury Liability Insurance, Collision Insurance, Comprehensive Automobile Insurance, Deductible Collision and Deductible Comprehensive Coverages, Medical Payments Automobile Insurance, Personal Injury Protection Automobile Insurance (PIP), Property Damage Liability Insurance, Towing Coverage, Underinsured Motorists Coverage, Uninsured Motorists Coverage and Uninsured Motorists Property Damage Coverage.
A form of insurance that provides protection against liability for bodily injury and property damage arising from automobile accidents, as well as protection against loss from damage to automobiles owned by the insured.
A TYPE OF INSURANCE WHICH PROTECTS THE INSURED AGAINST LOSSES INVOLVING AUTOMOBILES. DIFFERENT COVERAGE CAN BE PURCHASED DEPENDING ON THE NEEDS AND WANTS OF THE INSURED.
Insurance designed to protect against losses involving automobiles. All types of policies, including basic liability, collision and comprehensive, etc. come together to constitute automobile insurance.
Any kind of insurance pertaining to the ownership, maintenance, or use of automobiles.
This is insurance which protects the insured against losses involving the use of automobiles. Various coverages may be bought depending on the desires of the insured. Such coverages include the liability coverages of bodily injury, property damage, and medical payments, and the physical damage coverages of collision and comprehensive.
Insurance policies that cover injuries "arising out of the use, operation, or maintenance" of the vehicle.
Coverage on the risks associated with driving or owning an automobile. It can include collision, liability, comprehensive, medical, and uninsured motorist coverages.
A form of insurance that protects against losses involving autos. Different types are available depending on the needs and wants of those buying policies. Examples of coverage types include: bodily injury liability, property damage liability, medical payments, and collision and comprehensive coverage for physical damage to the insured's vehicle.
Contractual protection against losses resulting from the ownership and use of an automobile. Coverages common in auto policies include FIRE, THEFT, COMPREHENSIVE, COLLISION, PROPERTY DAMAGE and BODILY INJURY LIABILITY and UNINSURED MOTORIST.
