Types of Automobile Insurance Policies

The unqualified term “assured” wherever used in this policy shall include in each instance any other person, firm or corporation entitled to indemnity under the provisions and conditions of this endorsement, but the qualified term “named assured” shall apply only to the assured named and described as such in the general car insurance policy.

If the named assured carries any other insurance covering concurrently a claim covered by this Policy, he shall not recover from the Company a larger proportion of any such claim than the sum hereby insured bears to the whole amount of valid and collectible concurrent insurance.

If any other person, firm or corporation included in this insurance is covered by valid and collectible insurance against a claim also covered by this Policy, such other person, firm or corporation shall not be entitled to indemnity or protection under this Policy.

In the event an automobile covered by this Policy is sold, transferred or assigned, the indemnity provided herein shall not extend to such purchaser, transferee or assignee except by the written consent of the Company endorsed hereon.

A policy written to cover any type of auto- Declaration mobile shall include a declaration to the effect that: the automobile (or automobiles) covered hereby is owned exclusively by the named assured.

Any automobile that is garaged in a suburban district, but used principally within a city territory, must take the city rate if that rate is higher than the suburban rate; conversely, if an automobile is garaged in a city, but used in the suburbs, it shall take the city rate if higher than the suburban rate.

Exception: If, as in the case of automobiles used by salesmen or solicitors or those with similar duties requiring the use and garaging of the automobile in more than one rating territory, it is not possible to assign a specific city or town as the place of principal use and garage, then the residential address of the operator shall be stated and used as the city or town for determining the rate.

No form of automobile insurance governed shall be written for a period of less than one year except upon the customary short rate basis.

All automobile policies governed by this Manual shall be written in consideration of the full premium for the entire term of the policy being due and payable at the beginning of the policy period, except as follows:
Monthly Adjustment: Premiums may be paid on a monthly adjustment basis in accordance with the following plans, provided the deposit premium is at least the estimated total annual advance premium. Such deposit premium shall not be less than $200 in any event.


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