Fidelity car warranty is typically used to replace losses due to negligence of the employee who caused damage to your car. Car companies usually provide this guarantee as part of the promotion for the marketing of products produced cars. This guarantee has a lot of uses for car owners and companies. Indeed, the company does not want its reputation fall for mistakes made by employees who work in it. But the employee was a man who could commit fraud unexpected. The fraud could hurt the company. Therefore, so that consumers do not switch to other products, the company provides such a guarantee. The guarantee is also useful to improve the company's image in the eyes of consumers.
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| Terms That You Have to Understand about Fidelity Car Warranty |
The Trait of Fidelity Car Warranty
This guarantee has two properties namely the trait and the trait of insurance bonds. There are differences between the two properties. Insurance trait usually has the following characteristics:
· There premiums
· Can be done endorsement or canceled
· Valid indemnity principle
Guarantees have the trait of the bonds have the following characteristics:
· There are three parties, namely the Insurer, Company Owners and Employees
· There are three contracts, namely insurance contracts, labor contracts, and the counter contract.
Terms of Fidelity Car Warranty
Here are the requirements that must be considered before you buy such guarantees:
· The act of fraud committed by the employee should be found within 6 months after the employee stops dead, dismissed or retired. Fraud can also be found within 6 months after a period of coverage ends. Time to discover the fraud usually referred discovered period. So when fraud would be within the insurance period and discovered the fraud found in the period.
· If the list of specifications change, then the insured person has to give know to insurer after these changes. Usually the list of specifications contains the employee's name, job title, employee, premiums, insurance limit, and the period of coverage.
· In continuation of coverage, the maximum term is liable Insurers Limit Coverage of the last period.
Individual Policy is a policy that is geared to one participant with a limit of coverage. Collective Policy is a policy that is aimed at more than one participant to Limit Coverage of more than one. Collective Policy is divided into two types namely collective Name and Position. Collective Name is a collection of policy based on the name of the participant. Collective is a collection of policy positions based on positions of participants. Blanket Policy is a policy that is intended for all employees without exception in one company with single limit coverage. Blanket policy is divided into two types namely Policy and Excess Floater Policy. Floater Policy the Company is insured for all employees (without exception) with a limit of coverage.
The Importance of Fidelity Car Warranty
This assurance was given to the owner of the company or employer if there is a possibility of losses from the company or in the businessman because of fraud committed by employees. The insurance company will not cover loss caused by such things as: The insured does not meet or comply with the provisions of the policy; implementation of the company is not in accordance with the established in the procedure. The insured conceal important facts; parties notify their insured damages after finding the first loss. The company and consumer have to understand about fidelity car warranty.
