SUPPLEMENTARY PAYMENT

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Supplementary Payment Supplementary payments are normally defined to include such items as first aid expenses, premiums for appeal and bail bonds. Pre- and post judgment interest, and reasonable travel expenses incurred by the insured at the insurer's request when assisting in the defense of a claim

In addition to the policy limits and a legal defense,certain supplementary payments can be paid. They include the following:

They include the following : 1. Up to $250 for the cost

of a bail bond2. Premiums on appeal bonds and bonds to release attachments3. Interest accruing after a judgment4. Up to $200 daily for the loss of earnings5. Other reasonable expenses

The word with Rasheed Examples..………

Examples

Examples Premiums on a bail bond can be paid up to $250 because of an auto accident that results in property damage or bodily injury. However, payment is not made for a traffic violation such as a speeding ticket except if an accident occurs. For example, assume Richard is drunk and injures another motorist in an auto accident. If he is arrested, and bail is set at $2500, the insurer will pay the bail bond premium up to a maximum of $250. Premiums on an appeal bond and a bond to release an attachment of property in any suit defended by the insurer are also paid as supplementary payments.If interest accrues after a judgment is awarded, the interest is also paid as a supplementary payment. Any prejudgment interest, however, is part of the liability limits. The insurer will also pay up to $200 daily for theloss of earnings (but not other income) due to attendance at a hearing or trial at the insurer's request. Finally, other reasonable expenses incurred at the insurer's request are paid. For example, you may be a defendant in a trial and be requested to testify. If you have meal or transportation expenses, they would be paid as a supplemental payment.

Property Insurance

Rasheed Khlifat

(Risk Management & Insurance )0098499