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Comprehensive and collision are the two types of physical damage coverage available on car insurance policies.
Comprehensive loss definition. In the insurance world there are 16 named. The Comprehensive Loss Underwriting Exchange CLUE is a database that provides information about insurance claims for properties. If a thief makes off with your car or if your car is damaged by a storm or other natural disaster comprehensive coverage can help pay for repair or to replace it in full.
What happens when my car is a total loss. Having your car get hit with overspray when someone paints nearby is a comprehensive loss. Others add that it can help cover repairs or a total loss.
Collision is defined as impact with another vehicle or object. In short the best comprehensive car insurance definition is that comprehensive coverage is. Comprehensive Auto Provides coverage for any direct and accidental loss of or damage to your covered automobile and its normal equipment to include but not limited to fire theft or malicious mischief.
Contact this company to request your report. Comprehensive is an optional coverage. Comprehensive Loss Underwriting Exchange CLUE.
A peril is defined as an event or circumstance that causes or may potentially cause a loss. Revenues expenses gains and losses that are reported as other comprehensive income are amounts that have not been realized yet. Other comprehensive income consists of revenues expenses gains and losses that according to the GAAP and IFRS standards are excluded from net income on the income statement.
If the insured tripped carrying a bucket of paint and spilled it on the car it would be a comprehensive loss. Comprehensive car insurance pays for losses that dont occur as the result of a road accident. Is affiliated with LexisNexis Risk Solutions.
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