What Is Class 1 Insurance?

Class 1 insurance covers an individual occupying an owned vehicle, an individual occupying a vehicle owned by a resident relative, a pedestrian, or a bicyclist. Class 1 insurance, also written as Class I insuran𓂃ce, provides benefits to qualifying parties for any insurance polꦰicy in which premiums are paid.

Understanding Class 1 Insurance

Class 1 insurance covers a narrow group of peop♋le. In addition to covering the named insured, the policy will also cover spouses and relatives sharing a residence with the policyholder.

The difference between Class 1 insurance and 澳洲幸运5官方开奖结果体彩网:Class 2 insurance is that Class 2 insurance extends coverage to individuals who may not be resident relatives of the policyholder, but🐷 who may have permission to use or occupy the insured vehicle. Clas🦩s 1 insurance is thus a more narrow coverage because it applies to a smaller subset of people.

Class 1 Insurance and Uninsured Moඣtoris𓂃t Coverage

This class of 澳洲幸运5官方开奖结果体彩网:auto insurance coverage has the largest impact on uninsured motorist coverage. 澳洲幸运5官方开奖结果体彩网:Uninsured motorist coverage does not attach to the vehicle; instead, it attaches to the individual that is injured in an accident. This means that an individual that is protected by Class 1 insurance is covered i🦹n all locations at all times.

Insurance companies may limit the amount of uninsured motor🐻ist coverage in some cases—specifically, if an individual covered by a Class 1 insurance policy is injured in a vehicle that they own, or if the vehicle is owned by a spouse or resident relative bꦯut does not have its own uninsured motorist coverage purchased for it.

In some states, class 1 insured individuals may stack uninsured or 澳洲幸运5官方开奖结果体彩网:underinsured motorist coverage up to the limits on the vehicle involved in the acc🏅ident.

Class 1 Insurance Example

For example, an individual purchases Class 1 insurance for a sedan, and the policy provides uninsured motorist coverage. This person also owns a truck that does not have uninsuredꦗ motorist coverage. If injured in the truck the insurer may limit the coverage, depending on the wording of the policy language.

Special Considerations

It's a good idea to review your auto policy annually to make sure you've got all the coverage you need. The state-required minimums are insufficient for people with substantial assets including homes. For a relatively low cost, you can add 澳洲幸运5官方开奖结果体彩网:umbrella liability coverage that i🌄s over and above your home and auto policies that would kick in to protect you🔯r assets in the event of a substantial court judgment against you or a family member living in your home.