Should your car become damaged in an accident, the loss payee is the entity who will receive the payment from your insurance company.
A secured party to whom insurance proceeds are paid as stipulated in a loss payee clause of an insurance policy obtained by a debtor and covering property owned by a debtor and pledged to the secured party. Generally applies to personal property.
The person designated on an insurance policy to be paid in case the insured property is damaged or destroyed.
The party that loaned money for the automobile, usually a bank or other financial institution. The lienholder must be shown on the declarations page in order to have legal standing in case of a loss to the vehicle.
A term referring to the designated entity or individual that is to receive the proceeds from a settlement claim such as an insurance policy. Market Value The price a property can realistically sell for, based upon comparable selling prices of other properties in the same area.
a lien holder on equipment and is included on your property policy
The person or company designated as the one to receive payment, in the event of a claim on an insurance policy.
A party other than the policyholder to whom the claim proceeds under a Property Insurance policy's Loss Parable Clause are paid.
A person, such as a mortgagee or seller of an item of personal property under an installment contract, who is added to coverage as to the building or item of property as an additional insured to the extent of their interest in the property and/or unpaid loan balance.
A party entitled to receive proceeds from an insurance settlement arising in connection with a covered casualty or loss.
The party to whom an insurer pays out losses.
the person and or institution paid in a claim settlement, appearing on the boat's title.
The party to whom money or insurance proceeds is to be paid in the event of loss, such as the lienholder on an automobile or the mortgagee on real property.
