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What is the difference between physical damage and property damage?
Property damage means damage to property belonging to a third party and is covered under commercial auto liability coverage. Physical damage generally means damage to a vehicle owned by the policyholder. Physical damage is insured under comprehensive and collision coverages.
Is property damage liability required in Florida?
General Information. Before you register a vehicle with at least four wheels in Florida, you must show proof of Personal Injury Protection (PIP) and Property Damage Liability (PDL) automobile insurance.
What does damage mean in insurance?
Damages — money whose payment a court orders as compensation to an injured plaintiff. Fines, penalties, or injunctive relief would not typically constitute "damages."
Is property insurance mandatory in Singapore?
Home insurance is an optional benefit for any
or private property owner, unlike fire insurance which is mandatory in Singapore. That is why fire insurance is more common to property owners. If you plan to buy an HDB flat using a bank loan, the bank will most likely require you to purchase fire insurance.
Is property damage coverage required in Florida?
General Information. Before you register a vehicle with at least four wheels in Florida, you must show proof of Personal Injury Protection (PIP) and Property Damage Liability (PDL) automobile insurance.
How much property damage liability do I need in Florida?
According to Florida law, if you own a motor vehicle with four or more wheels you must carry $10,000 of personal injury protection (PIP) insurance and a minimum of $10,000 of property damage liability insurance. You may have a deductible of up to $1,000 for PIP coverage and $500 for property damage liability.
Is PIP insurance required in Florida?
In Florida, PIP coverage is required to be purchased by all owners of motor vehicles registered in this state. PIP coverage makes the individual responsible for their own injuries in an accident regardless of fault.
Do you need liability coverage in Florida?
Before you register a vehicle with at least four wheels in Florida, you must show proof of Personal Injury Protection (PIP) and Property Damage Liability (PDL) automobile insurance.
What insurance is compulsory in Singapore?
MediShield Life is a basic health insurance plan that protects all Singapore Citizens and Permanent Residents against large hospital bills for life, regardless of age or health condition.
Is home insurance mandatory for HDB?
Compulsory for HDB flat owners who are using their CPF savings to pay their monthly housing loan instalments. Optional for HDB flat owners who have private life insurance or mortgage-reducing insurance that can sufficiently cover the outstanding housing loan. Compulsory for flat owners with outstanding HDB loans.
Is it compulsory to insure your home?
Home insurance isn't compulsory.