Underinsured Automobile definition

Underinsured Automobile means an automobile for which the sum of liability limits of all applicable liability bonds or policies at the time of an accident is less than the limits of indemnification applicable to Insuring Agreement 3 of this section.
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Underinsured Automobile means an automobile or trailer of any type to which a bodily injury liability bond or policy applies at the time of the accident but its limit for bodily injury liability is less than the limit of liability for this coverage. However, “underinsured automobile” does not include any vehicle:
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Underinsured Automobile means a motor vehicle whose ownership, maintenance or use has resulted in bodily injury or death of the insured, as defined in the policy, and for which the sum of the limits of liability under all bodily injury liability insurance policies or bonds or other security required to be maintained under Illinois law applicable to the driver or to the person or organization legally responsible for such vehicle and applicable to the vehicle, is less than the limits for Underinsured Motorist Coverage as stated on the Declarations or endorsement to this policy at the time of the accident.
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Examples of Underinsured Automobile in a sentence

  • At the same time that Julius signed the application, he was presented with an “Offer of Optional Additional Uninsured and Underinsured Automobile Insurance Coverages” form.

  • At a minimum, details must be provided for Third Party Liability, Accident Benefits, Uninsured Automobile, Collision, Comprehensive, All Perils, Specified Perils and SEF 44 (Underinsured Automobile), even if a rate level change is not proposed for each of these coverages.

Related to Underinsured Automobile

  • Automobile means any self-propelled land motor vehicle, trailer or semi-trailer (including machinery, apparatus, or equipment attached thereto) which is principally designed and is being used for transportation of persons or property on public roads.

  • Underinsured motor vehicle means a land motor vehicle or trailer of any type to which a bodily injury liability bond or policy applies at the time of the accident but its limit for bodily injury liability is either:

  • Deductible has the meaning set forth in Section 11.1(e).

  • Insured as used in this Part means:

  • Insurance means (i) all insurance policies covering any or all of the Collateral (regardless of whether the Collateral Agent is the loss payee thereof) and (ii) any key man life insurance policies.

  • FHA Insurance means the Federal mortgage insurance authorized pursuant to Section 220, 221(d)(3), 221 (d)(4) or 223(f) of Title II of the National Housing Act of 1934, as amended.

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Accident means a sudden, unforeseen and involuntary event caused by external, visible and violent means.

  • insurance business means one or more aspects of the business of selling, issuing or underwriting insurance or reinsurance.