Motor Insurance Settlement definition

Motor Insurance Settlement means the pre-incident value of Your Vehicle as assessed by the Motor Insurance Company excluding any deductions for damage not associated with the Total Loss Claim.
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Motor Insurance Settlement means the money that you receive from your motor insurer under your motor insurance following a claim for the total loss of the insured vehicle.
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Motor Insurance Settlement means the money that you receive from the motor insurer following a claim for the total loss of theinsured vehicle;
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Examples of Motor Insurance Settlement in a sentence

  • In the event that the Insured Vehicle is declared a Total Loss by Your Motor Insurance provider or a Third Party’s Motor Insurance and You are provided with a replacement vehicle as part of a Motor Insurance Settlement, under a manufacturer’s or Retailer’s warranty, or due to satisfactory quality issues, You may transfer this Policy to a replacement vehicle.

  • If You have a Contract Hire Agreement or a Finance Lease Agreement, in the event of the Total Loss of Your Vehicle occurring within the Territorial Limits during the Period of Insurance, the Insurer agrees to pay the Finance Company on Your behalf, the amount by which the Early Settlement Balance exceeds the Motor Insurance Settlement.

  • This cover is provided at no extra cost.If the Insured Vehicle is declared a Total Loss during this period, this policy will cover the difference between the Motor Insurance Settlement and the Finance Early Settlement Balance payable to the Finance Company at the date of Total Loss.

  • If the You have a Finance Agreement, in the event of the Total Loss of Your Vehicle occurring within the Territorial Limits during the Period of Insurance the Insurer agrees to pay the Finance Company on Your behalf, the amount by which the Early Settlement Balance exceeds the Motor Insurance Settlement.

  • Salvage Value The amount deducted by the Motor Insurer from a Motor Insurance Settlement, to enable You to keep ownership of Your Vehicle.

  • Any actions We take in Your name in relation to the Motor Insurance Settlement will not affect the payment of a claim under Your Asset Protection Policy.

  • If You accept a Motor Insurance Settlement from the Motor Insurance Policy before contacting the Administrator, We reserve the right to contact the Motor Insurer in Your name to assess the offer of settlement and where necessary seek settlement in-line with the Market Value (Glass’s Guide Retail) at time of Your Vehicle being declared a Total Loss.

  • Total Loss A claim under the Motor Insurance Policy for Your Vehicle or through an Accident Management Company, as a result of accidental damage, fire or theft, or adverse weather conditions, where Your Vehicle is beyond economic repair resulting in a Motor Insurance Settlement.

  • Any claim where the Insured Vehicle is not declared a Total Loss, or where no Motor Insurance Settlement is paid to You2.

  • If You incur a motor insurance policy excess as part of Your Motor Insurance Settlement and the Claims Administrator authorises Your claim, the Claims Administrator will also pay You up to the limit specified on Your Certificate of Insurance toward the cost of Your Motor Insurance Policy excess.

Related to Motor Insurance Settlement

  • Standard Hazard Insurance Policy means a fire and casualty extended coverage insurance policy in such amount and with such coverage as required by this Agreement.

  • Mortgage Impairment Insurance Policy A mortgage impairment or blanket hazard insurance policy as described in Section 4.11.

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.

  • Blanket insurance policy means a group policy covering a defined class of

  • Cash Value Insurance Contract means an Insurance Contract (other than an indemnity reinsurance contract between two insurance companies) that has a Cash Value greater than $50,000.

  • Life Insurance Policy has the meaning given in Section 6.11.

  • Hazard Insurance Policy means, with respect to each Contract, the policy of fire and extended coverage insurance (and federal flood insurance, if the Manufactured Home is secured by an FHA/VA Contract and such Manufactured Home is located in a federally designated special flood area) required to be maintained for the related Manufactured Home, as provided in Section 5.09, and which, as provided in said Section 5.09, may be a blanket mortgage impairment policy maintained by the Servicer in accordance with the terms and conditions of said Section 5.09.

  • R&W Insurance Policy means the representations and warranties insurance policy issued to Buyer in connection with the transactions contemplated hereby.

  • Insurance Schedule means Schedule 3 attached hereto.

  • Insurance premium finance company means a person engaged in the business of

  • Insurance adjuster means a person who directs or conducts the investigation, negotiation, or settlement of a claim under an insurance policy other than life insurance or an annuity, on behalf of an insurer, policyholder, or a claimant under an insurance policy.

  • Insurance carrier means every insurance carrier duly

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Mortgage Insurance means insurance protecting Lender against the nonpayment of, or default on, the Loan.

  • Reimbursement insurance policy means a policy of insurance

  • Long-term care insurance means group insurance that is authorized by the retirement system for retirants, retirement allowance beneficiaries, and health insurance dependents, as that term is defined in section 91, to cover the costs of services provided to retirants, retirement allowance beneficiaries, and health insurance dependents, from nursing homes, assisted living facilities, home health care providers, adult day care providers, and other similar service providers.

  • Insurance Contract means a contract (other than an Annuity Contract) under which the issuer agrees to pay an amount upon the occurrence of a specified contingency involving mortality, morbidity, accident, liability, or property risk.

  • Health-care-insurance receivable means an interest in or claim under a policy of insurance which is a right to payment of a monetary obligation for health-care goods or services provided.

  • Reinsurance means the activity consisting in accepting risks ceded by an insurance undertaking or by another reinsurance undertaking or, in the case of the association of underwriters known as Lloyd's, the activity consisting in accepting risks, ceded by any member of Lloyd's, by an insurance or reinsurance undertaking other than the association of underwriters known as Lloyd's;

  • Insurance Report means an insurance report in respect of the Insurances confirming that such Insurances are placed with such insurers, insurance companies and/or clubs in such amounts, against such risks and in such form as acceptable to the Agent (acting on the instructions from the Finance Parties) and comply with the requirements under Clause 26.3 (Insurance) and the GIEK Guarantee prepared by Bank Assure Insurance Services Inc., or such other reputable insurance advisor approved by the Agent, and dated on or about the date of this Agreement and addressed to, and capable of being relied upon by, the Finance Parties.

  • life insurance business means the business of providing or undertaking to provide policy benefits under life policies;

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Insurance Cover means the aggregate of the maximum sums insured under the insurance taken out by the Contractor pursuant to Article 20, and includes all insurances required to be taken out by the Contractor under Clauses 20.1 and 20.9 but not actually taken, and when used in the context of any act or event, it shall mean the aggregate of the maximum sums insured and payable or deemed to be insured and payable in relation to such act or event;

  • FHA Mortgage Insurance means, mortgage insurance authorized under the National Housing Act, as amended from time to time, and provided by the FHA.

  • group insurance means insurance, other than creditor’s group insurance and family insurance, whereby the lives of a number of persons are insured severally under a single contract between an insurer and an employer or other person; (“assurance collective”)