Auto Insurance Definitions: Indemnity

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What is indemnity as it applies to car insurance location?

Auto Insurance Definitions: Indemnity

When a loss occurs relative to your car insurance policy, Indemnity is the principle that guarantees that in the process of restoring this loss, you will be returned to the financial condition that existed before the auto insurance loss occurred. In other words, you will be no better off and no worse off than before the loss occurred.



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