I am involved in an auto accident whereby another driver runs a red light, and collides with
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I am involved in an auto accident whereby another driver runs a red light, and collides with my vehicle. My insurance company determines that there is $9500 damage to my vehicle. The other driver is definitely at fault. My insurance company ends up paying this $9500 on my vehicle. What is meant by “Subrogation,” and how could this provision of the policy come into play?Explain your reasoning.
b- If I finance, and take out a loan for part of my building purchase through a bank, the bank becomes a mortgagee. Why is this important regarding my business property policy?
Explain your reasoning.
Related Book For
Principles of Risk Management and Insurance
ISBN: 978-0132992916
12th edition
Authors: George E. Rejda, Michael McNamara
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