Motor Insurer definition
Examples of Motor Insurer in a sentence
Total Loss: Your Insured Vehicle is deemed to be beyond economical repair by Your Comprehensive Motor Insurer and they have agreed to accept Your claim on terms that the Insured Vehicle becomes the property of the Comprehensive Motor Insurance provider.
Any Premium owed that is deducted from the settlement by the Motor Insurer of a Total Loss claim on Your Vehicle.
Salvage Value The amount deducted by the Motor Insurer from a Motor Insurance Settlement, to enable You to keep ownership of Your Vehicle.
Where an Insured person has claimed under their Motor Insurance Policy and the claim has been settled, with the Vehicle being surrendered to the Motor Insurer or otherwise, and a Total Loss payment made.
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.
If the Insured accepts an offer of settlement from their Motor Insurer of less than the current Market Value of the Vehicle, the Insurer reserves 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 at the time of the incident that lead to Your Vehicle being declared a Total Loss.
The same percentage or amount deducted by the Motor Insurer of Your Vehicle, if they reduce the Motor Insurance Settlement because of contributory negligence or due to the condition of Your Vehicle.
The value of Your Vehicle excluding any contents: as assessed by the Motor Insurer of the Motor Insurance Policy on Your Vehicle at the date of the Total Loss; or as assessed by the Motor Insurer of a third party against which You have a claim via an Accident Management Company, at the date of the Total Loss.
Any Motor Insurance Excess above £250 that is deducted from the settlement by the Motor Insurer of a Total Loss claim on Your Vehicle.
Where Your Motor Insurance Policy has been endorsed by Your Motor Insurer to provide cover in the event of accidental damage, fire, theft or adverse weather conditions within the European Union.