I am an agent, but not P&C. Just saw that Shelter in Missouri has added "step Down Limits" on car insurance, if you loan your car to anyone. The limit drops down to to the state mandatory coverage.
Agent says Shelter pays up to state minimum requirements, then the overage is a claim against the insurance of the person u loaned it to. I asked agent if that person had mistakenly allowed their coverage to lapse, or if they only had state minimum coverage, once that is exhausted, does it come back to Shelter to pay more. They said even if u bought a million dollar policy, that the max that S
Source of insurance-forums.net
Agent says Shelter pays up to state minimum requirements, then the overage is a claim against the insurance of the person u loaned it to. I asked agent if that person had mistakenly allowed their coverage to lapse, or if they only had state minimum coverage, once that is exhausted, does it come back to Shelter to pay more. They said even if u bought a million dollar policy, that the max that S
Comments
Post a Comment