What is an event in insurance?
Event — an occurrence that may or may not become a claim. Some claims-made coverages allow for reporting of events.
What does the liability insurance cover?
Liability coverage pays for property damage and/or injuries to another person caused by an accident in which you're at fault. This coverage is required by most states to legally drive your vehicle. Liability coverage is broken down into 2 parts: property damage and bodily injury.
What are the three types of liability insurance?
The three main types of liability insurance coverage are:. General liability.Professional liability.Employer liability.
What does the liability insurance not cover?
What Doesn't Liability Insurance Cover? Liability coverage typically doesn't pay to repair damage to your own car after an accident — collision coverage helps with that. It also doesn't pay to repair damage caused by other factors, such as hail, which may be paid by comprehensive coverage.