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.

  • 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.

  • 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.

  • 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 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.

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

  • 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.

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

  • Motor Insurance Settlement The provision of a replacement vehicle by Your Motor Insurer, or money You receive from the Motor Insurer for Your Vehicle or from a third party through an Accident Management Company following a Total Loss claim of Your Vehicle.

Related to Motor Insurance Settlement

  • 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 carrier means every insurance carrier duly

  • 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.

  • 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 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.