Primary Insurance Settlement definition

Primary Insurance Settlement means the amount received from the Primary Carrier in settlement of the Contract Holder’s auto insurance claim as a result of a Constructive Total Loss. This includes any amounts or deductions made by the Primary Carrier for prior damage that has already been paid to the Contract Holder.
View Source
Primary Insurance Settlement means the amount paid by the Primary Insurer to settle a Constructive Total Loss or Unrecovered Theft plus any amounts deducted by the Primary Insurer for: (1) the Primary Insurer deductible, (2) preexisting damage, and (3) salvage values retained by you.
View Source

Examples of Primary Insurance Settlement in a sentence

  • A complete copy of the Primary Insurance Settlement Statement substantiating the date of and the cause of the Total Loss of the Vehicle, the gross settlement amount, any deductible amount, and the net settlement amount.

  • Primary Insurance Settlement means amount paid by the Buyer’s Primary Insurance Provider or a third party insurance provider, if applicable.

  • The Benefit amount will be the difference between the Outstanding Balance and the Primary Insurance Settlement, less any partial exclusion amounts not covered by this Agreement.

  • You are responsible for making all payments owed under the terms of the Finance Agreement, up until the Primary Insurance Settlement is paid.

  • Complete copy of the Primary Insurance Settlement Statement substantiating the date of and the cause of the Total Loss of the Vehicle, gross settlement amount deductible and net settlement amount.

  • In the event of a CONSTRUCTIVE TOTAL LOSS, YOU must notify and provide the following to OUR Administrator, MY DEDUCTIBLE, LLC (at the address shown below): (1) a complete copy of the Primary Insurance Settlement, including the valuation worksheet; (2) a copy of the original FINANCING CONTRACT and this Addendum; (3) a copy of the accident/police report; (4) a copy of YOUR insurance policy; and (5) a payment history from Financial Institution as of the DATE OF LOSS.

  • In the event of a Constructive Total Loss the Borrower must provide the following documentation to the GAPAdministrator within ninety (90) days of the Primary Insurance Settlement, or in the absence of Primary Insurance, ninety (90) days from the Date of Loss.

  • In the event of a Constructive Total Loss the Customer must provide the following documentation to the GAPAdministrator within ninety (90) days of the Primary Insurance Settlement, or in the absence of Primary Insurance, ninety (90) days from the Date of Loss.

  • Complete copy of the Primary Insurance Settlement Statement substantiating the date of and cause of the Total Loss of the Covered Vehicle, gross settlement amount, deductible and net settlement amount.