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A loss payee clause (or loss payable clause) is a clause in a contract of insurance that provides, in the event of payment being made under the policy in relation to the insured risk, that payment will be made to a third party rather than to the insured beneficiary of the policy.
An extended warranty, sometimes called a service agreement, a service contract, or a maintenance agreement, is a prolonged warranty offered to consumers in addition to the standard warranty on new items. The extended warranty may be offered by the warranty administrator, the retailer or the manufacturer.
A mechanic's lien can only arise against real property i.e., land or buildings. If a person (licensed repair facility) has repaired, furnished supplies or materials, towed or stored a vehicle and has not been paid for the services rendered, that person has a lien against the vehicle.
Total payout per claim: There's usually a maximum amount the insurance company will pay for a rental car per claim. This could be a fixed amount or a daily rate multiplied by the maximum number of ...
However, according to the Magnuson-Moss Act (a U.S. Federal law that governs warranties, which was passed in 1975), if the warranty does not provide full or partial payment of labor (to repair the device or system), it is the owner's choice who will provide the labor, including the possibility of DIY ("Do It Yourself") repairs, in which case ...
In the United States, new car dealerships have service departments that are certified by their respective OEM (Original Equipment Manufacturer) to perform warranty and recall repairs. Customer-pay repairs can also be completed, however most service departments tend to only work on the vehicle brand of which they are a dealer. Dealership ...