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Showing posts from October, 2021

Jubilee Life

Property damage liability – which reimburses others for damage that you or another driver operating your car causes to another vehicle or other property, such as a fence, building or utility pole. Over insurance occurs, if the sum insured is greater than the market value of the vehicle. Please note that insurance cover of the previous owner becomes invalid on the sale of the vehicle. In July 2007, the US Federal Trade Commission released a report presenting the results of a study concerning credit-based insurance scores in automobile insurance. The study found that these scores are effective predictors of risk. It also showed that African-Americans and Hispanics are substantially overrepresented in the lowest credit scores, and substantially underrepresented in the highest, while Caucasians and Asians are more evenly spread across the scores. The amount of money charged by the insurer to the policyholder for the coverage set forth in the insurance policy is called the premium. If th