How to Claim Auto Insurance after Car Accidents

We are talking about the casualty insurance often equated to liability insurance is insurance not directly concerned with life insurance, health insurance or property insurance. As Said it is mainly liability coverage of an individual or organization's for negligent acts or omissions. So however the term has also been used for property insurance for aviation insurance boiler and machinery insurance and glass and crime insurance. When it may include marine insurance for shipwrecks or losses at sea or fidelity and surety insurance. Like it may also include earthquake political risk insurance terrorism insurance fidelity and surety bonds.

In one of the most common kinds of casualty insurance today is automobile insurance. Manually In its most basic form automobile insurance provides liability coverage in the event that a driver is found "at fault" in an accident. Disturbing this can cover medical expenses of individuals involved in the accident as well as restitution or repair of damaged property all of which would fall into the realm of casualty insurance coverage.

This coverage was extended to cover damage to one's own vehicle or against theft the policy would no longer be exclusively a casualty insurance policy.

In the state of Illinois includes vehicle liability worker's compensation glass-livestock- legal expenses- and miscellaneous insurance under its class of casualty insurance.

So, it has never been possible really to define casualty insurance. Probably and broadly speaking it may be defined as a list of individual insurances usually written in a separate policy in three broad categories third party or liability disability or accident and health material damage. So one of the results of comprehensive policy-writing is to raise the question of the usefulness of the traditional concept of casualty insurance some insurance men predict that the casualty insurance of the future will include liability and disability lines only.

After words in Chapter 2 the book states that insurance was traditionally classified under life fire-marine, and casualty. So multiple-line policies began to be written -insurance contracts covering several types of risks- the last two began to merge. When the NAIC approved multiple underwriting in 1946 casualty insurance was defined as a blanket term for legal liability except marine disability and medical care and some damage to physical property.

In An inevitable casualty is one that occurs through no fault of anyone. Generally it happens totally without design as in the case of an accident resulting from an act of God such as a house struck by lightning or flooded by a storm.

In a casualty loss is a tax deduction that can be taken for an accident that is incurred in a trade or business in a transaction entered into for profit or for the complete or partial loss or destruction of property owned by the taxpayer. When it arises from certain specific events such as a fire an auto accident or a flood. These Casualty losses are computed subject to special rules and are treated as itemized deductions.