Business Auto Coverage Endorsements

Published on June 2016 | Categories: Documents | Downloads: 25 | Comments: 0 | Views: 176
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________________Business Auto Coverage Endorsements___________________ •
Auto Medical Payments Endorsement: o Inclusions:  Pays for the various medical expenses to insured that is injured while occupying an insured auto.  Pays for the medical and funeral expenses for BI caused by auto accident  Expenses incurred within 3 years from the date of accident  Also pays if the insured auto is damaged and a temporary auto is being used  Pays for the expenses while occupying or as a pedestrian, being stuck by any auto  Also pays to the any resident of family members  Also pays for the domestic employees who are not covered by the workmen Compensation Exclusions:  Any BI arising out or in due course of insured’s employee

o



Un-Insured Motorists Endorsement: o Inclusions:  Pays to the insured who is injured in an accident by someone: • Who has no insurance • Carries less liability insurance • Is hit and run case • The insurance company denies coverage or becomes insolvent  Pays to insured’s damages to the property  Pays for the BI  Pays for the following: • Named Insured • Family members of named insured • Any other occupying a covered auto or a temporary auto • Anyone entitled for recovering the damages because of BI or PD Damages awarded as punishment by the courts when the injury was intended or if gross negligence was committed.

o Exclusions:




Underinsured Motorists Endorsement: o Pays for the difference of damages between the insured insured’s actual damages and the limit of insurance of the at-fault driver.



No-Fault Endorsement: o An insured is reimbursed by his insurer regardless of who was at fault in the accident for the following • Medical expenses • Wages



Nuclear Energy Endorsement: o It’s a mandatory endorsement that must be attached to all the commercial auto coverage forms o Also known as interline form because it can be used for various lines of insurance o It pays for the following: • Injuries or losses • Medical expenses Individual Named Insured Endorsement: o When the business is a sole proprietorship the INIE must be attached to the policy for providing the liability coverage for the insured personal use of following: • Non owned • Hired • Borrowed autos o Pays for the named insured , fellow employees and its family members expenses o Provides the named insured status to the named insured’s spouse o Pays for the damages to the covered auto if PD cover is opted for the covered auto o Pays up to $500 for the non owned trailers



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