Previous page Frequently Asked Questions Main page A. If the company does not plan to resort to subrogation, it can usually file a lawsuit with the Small Claims Court to recover the amounts due, or it can try to recover its deductible by calling the company of the at-fault party. You can file a claim against the at-fault party's insurance policy. Department of Finance, Risk Management Division (33) 242-5616 P.
Box 303250 Montgomery, AL 36130-3250 The Department of Finance manages insurance claims from all agencies in the state of Alabama. First you need to find out why there was a discrepancy in the quotation. Sometimes, information in its motor vehicle registry (MVR) will be disclosed to the company that will require the company to modify the premiums originally quoted. The producer should be able to satisfactorily explain the increase in his premium to you.
If you believe that your premium was intentionally quoted at a low price in order to obtain your business, you should file a request for assistance with the Department. The company must give 10 days' notice for non-payment of the premium. For any other reason, 20 days. Yes, the lender has the right to require the borrower to protect the lender's interests in the guarantee.
A secured loan agreement usually includes a provision requiring the borrower to maintain the secured collateral and that allows the lending institution to guarantee coverage and charge for it if the borrower does not obtain the required insurance. These charges are subject to interest and premiums are often much higher than if you had purchased insurance yourself. Yes, as long as the repairs restore the value of the vehicle that existed before the loss. The parts used do not necessarily have to be original equipment manufacturer (OEM) parts, but must be of the same type and quality as the parts being replaced.
Ask your company what guarantees they will give you in these parts. Insurance companies are required to pay according to the provisions of their policy, which is usually the actual cash value of the vehicle at the time of the loss. This amount doesn't always cover the loan balance because you may owe more than the vehicle is actually worth. The loan borrower is responsible for paying the difference to the financial institution.
The actual cash value (ACV) of your car is the amount on which the insurance company will base the settlement. You can review the vehicle evaluation report used by the insurance company and consult other available sources, such as the “blue book”, and comparable vehicles in your area that are for sale. The Alabama Department of Insurance has no regulatory authority over the monetary evaluation of your vehicle. The company is obliged to pay claims for which the insured person is legally responsible due to an accident.
The fact that the insured did not report the accident seems irrelevant, as long as sufficient documentation can be provided to the company to support the claim. When damage to a vehicle is equal to or greater than 75% of the value of the vehicle, it can be considered a total loss. Alabama Code 32-8-87 (d) File a complaint, search for a life insurance policy, view information about long-term care, etc. Apply for, renew, or print a license, view the CE transcript, check the status, exam sites, etc.
Business search, filing requirements, rate bulletins, forms, captives, Clarity Act, etc. The state of Alabama only requires drivers to have liability insurance. As described above, it's generally divided into bodily injury and property damage coverages. Bodily injury coverage covers medical expenses and lost wages that you caused to another driver in an accident.
Property damage coverage pays for the damage you've caused. This type of insurance doesn't cover your car or your injuries in an accident. Review the Cancellation of Auto Liability Insurance to learn the reasons why insurance companies can cancel your insurance. With affordable car insurance rates, Insurance Navy offers you high-quality coverage at an affordable price.
This means that the person who was at fault for causing the car accident is responsible for compensating anyone who suffered harm as a result (although from a practical point of view, it is usually the at-fault driver's insurance company that covers these losses, up to the limits of the policy). If you're injured in a car accident in a no-fault state, you should use the personal injury protection coverage of your own auto insurance policy to pay for medical bills and other out-of-pocket losses, regardless of who caused the accident. For more information on Alabama's auto insurance regulations, directly from the state, see the Alabama Department of Revenue's mandatory liability insurance website and the Be Sure to Insure campaign - Alabama. Keep in mind that these penalties are likely to pale in comparison to the financial impact you could receive if you have a car accident and don't have car insurance.
If you choose to forego car insurance in the state of Alabama, you could face some severe penalties. For example, personal injury protection (PIP) or MedPay coverage can be used to pay medical bills for a car accident, and collision coverage can pay for repairs (or replacement) of your damaged vehicle after a car accident. .