Definition of "Additional car"

Emanuele Pani real estate agent

Written by

Emanuele Panielite badge icon

Signature International Real Estate

Automobile purchased or leased by the insured or the insured's spouse that is in addition to the insured or the insured spouse's present car as covered under the personal automobile policy (pap). In order for this car to be insured, the car must be a private passenger car and the insurance company must insure all of the insured and insured spouse's other private passenger cars. If it is a pickup or van with less than 10,000 lb. gross vehicle weight and not used in business or farming, the insurance company also must insure all the other cars owned by the insured or the insured's spouse for that car to be covered.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Accrediting body for the CPCU (Chartered Property and Casualty Underwriter) designation. The institute provides undergraduate and continuing education in property and casualty insurance ...

Reinsurance of & re insurer such that the re insurer protects itself from a catastrophe occurrence. Just as an insurer must decide to cede to the re insurer a portion of a risk it has ...

Right to insurable interest in property such as the right of a secured creditor in the property pledged as security. ...

Clause in a surety bond contract providing for restoration of coverage after a loss without requirement of a restoration premium. ...

Lump sum premium paid in advance instead of the frequency of premium payments stipulated in the insurance policy. This lump sum premium payment will be less than the present value of the ...

Offer and acceptance upon which an agreement is based. For a contract to be legal (and thus enforceable in a court of law), an offer must be made by one party to another party, who accepts ...

Unit of the life office management association (LOMA), which prepares and administers educational materials for the Fellow Life Management Institute (FLMI) Program. Upon successful ...

Length of time required to amortize the excess expenses of acquiring a given group of life insurance policies. In acquiring a policy, a life insurance company may incur expenses (such as ...

Personal property insurance that provides all-risks coverage for wedding presents, wherever they may be in the world, until they are permanently located. Because the new owners of wedding ...

Popular Insurance Questions