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1 Jul, 2014

SHOULD YOU BUY EXTRA CAR RENTAL INSURANCE?

2018-04-23T20:59:43-05:00July 1st, 2014|Auto coverage, Midwest Insurance Law Guide, Policyholder|

ARE YOU COVERED FOR LOSSES WHEN YOU RENT A CAR? OR SHOULD YOU BUY SEPARATE RENTAL INSURANCE?    My son and I went fly fishing with family in Montana last week.  We rented a car from Budget.  I insisted that my brother in law be added to the car rental agreement as an authorized driver.  I would not let anyone else drive the car for the week - which meant that either [...]

13 Jul, 2013

ADDITIONAL INSUREDS: KNOW YOUR STATE LAWS!

2018-04-23T20:59:44-05:00July 13th, 2013|Additional insured coverage, Contract liability coverage, Midwest Insurance Law Guide, Policyholder, Railroad indemnity|

6 STATES BAR CONTRACTUAL INDEMNITY FOR ADDITIONAL INSUREDS Colorado.  See, Colo. Stat.  § 13-21-111.5  (except for railroads); Georgia.  See, Ga. Code § 13-8-2  (but allows hold harmless clauses in an insuring contract); Montana.  See, Mont. Rev. Code § 28-2-2111; New Mexico.  See, N.M. Stat. § 56-7-1 (prohibits requirements to "insure or defend" but allows OCIP and limited indemnity clauses); Oklahoma.   See, Okla. Stat. § 15-221; Oregon.   See, Or. Rev. Stat.  §30.140  (prohibits subcontractor's [...]

26 Dec, 2012

– REPLACEMENT COSTS – WHAT HAPPENS IF THE POLICYHOLDER HAS NO MONEY TO REPLACE THE LOSS?

2018-04-23T20:59:45-05:00December 26th, 2012|Midwest Insurance Law Guide, Policyholder|

Most policies require a policyholder to repair or replace property in a timely manner.  Only then, after this is accomplished, will the insurance company reimburse the policyholder under the terms of the insurance contract.  But what happens when it is too expensive to make these repairs? Is the policyholder barred from collecting insurance if he cannot fulfill his duty to timely repair or replace under the contract?  […]