Abandonment in Auto Insurance: Commentary to Jurisprudence
In case of loss or destruction of insured property an insurer or beneficiary has a right to withdraw his rights over the property for the benefit of insurer to get an insurance compensation which is in the amount of the whole coverage. Such kind of withdrawal is called “abandonment”. Notwithstanding the relative simplicity of such a rule, disputes between the parties to property insurance contracts arise quite often, especially concerning the possibility to apply the aforementioned legal device, the amount and conditions to pay an insurance compensation.