How to record Journal Entry for insurance claim?

Our Company kitchen assets have damaged due to fire, we claim the lost from the insurance company, and the company issues a cheque for us. But i don't know how to record as journal entry for accounting. Can you guide me?

BEST ANSWER: Try this site where you can compare quotes:freeautoinsurance.xyz

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My daughter was in a car accident on Feb. 25. She was traveling straight in the southbound lane, when a rushing man in the northbound lane turned left in front of her. The driver admitted that he was upset because he had been following a school bus for the last 20 minutes and his friend, whom he was trying to pick up, was late for work. He stated that when he saw the driveway that he cut from behind the bus to turn in then realized from the skidding that he turned in front of a car. His insurance company is still investigating and waiting for pics of the scene and his friends statement. I was told by his insurance company (USAA) that witnesses not listed on the police report could not be used, but his friend is not on the police report and they are waiting for her statement. NC State Highway Patrol responded to the scene and the driver was cited for failure to yield the right of way. The driver was apologetic and admitted several times around a number of people that he must have blanked out or was daydreaming from the frustration of the school bus. USAA is saying that they need to make sure that my daughter was not 1% at fault, meaning speeding perhaps. The officer estimated her speed at impact at around 40 mph and the speed limit is 55mph. She hit the drivers back tire of his Jeep Wrangler (small truck) causing him to rest in a small trench or ditch ion the side of the attempted driveway. The front passenger side above the front tire and the front by the headlight is damaged on her car. She tried to avoid him, protect her younger sister (13) and avoid veering to much left in fear of hitting the school bus. My girls were terrified when I arrived 15 minutes after the accident. USAA stated that she may have had time to instanly stop, but she tried everything that she could do. In my opinion, she should have never been put into that situation. USAA is saying that points of contact are off, but my insurance agent said that she hit the back tire because a Jeep Wrangler is only 5 ft long and he was not towing a boat or driving a common sized vehicle. Plus the driver admitted to pushing down on the accelerator when he realized what was happening. I just need to have someones advice on this matter before hiring a lawyer. Thank you.

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How to record Journal Entry for insurance claim?

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How to record Journal Entry for insurance claim?

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Car insurance Question?

I was driving my friends car. I hit someone. It was my fault. My friend has insurance but I dont know what kind of coverage. I was driving her car because she needed to borrow my truck. If her insurance doesnt cover her damage should I help her pay for it even though I was doing her a favor by borrowing my truck?

Is bike insurance cheaper then car insurance?

Cheap Car Insurance For Young Adult?

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Car insurance help in northern ireland!!!?

i am a 17 year old living in northern ireland and i am practicing for my driving license but i hav had quotes on cars and they are in the region of 2000 pounds which i cannot afford. my dad has 30 years no claims on his insurance but he will not let me on his insurance in case som1 claims against me and he loses his no claims bonus. can someone please help me because i really want to drive a car of my own that i can afford the insurance on???

Want free auto insurance?

Do what the libs do. Dont have insurance. Those that do pay will have to pay higher premiums to make up for uninsured accidents. When the premiums get too high, tax the people already paying for their own insurance to cover those that never paid.

Female car insurance companies?

does any1 know any good cheap female car insurers?

Can a 17 year old get their own medical coverage in California?

I'm 17 and live in California. I was wondering if I am legally allowed to sign up for my own medical insurance, like through MediCal or something, and not through my parents. It's a long story, but neither of my parents are able to provide medical coverage for me. And I'm not emancipated or anything. 10 points best answer. thank you ( :

Provisional Car Insurance?

I am currently looking for car insurance on a car I own, The car is an 04 punto. Basically I need provisional insurance for a month and I own the car so I need a policy that covers both of these, I am 18, Any suggestions? Thanks

Car insurance????

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Hi Ive just renewed my car insurance and had a major reduction, i got through my first year paying 4800 (800 deposit and 380 for 10 months) now ive renewed and im paying 1600 (500 deposit and 110 for 10 months). My question is i am moving out of the area i live to live in gloucester, ive done quotes for my car in that area with all the same details as now just with a different address and my insurance is just above 600 not 1600! does this mean if i move and contact my insurance company (RAC) that they will reduce my payments or will i have to still pay the same for the next 11 months? Thank you

How to record Journal Entry for insurance claim?

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I signed up for Allstates full coverage insurance for my 2006 Toyota corolla. I'm 21, female, and clean driving record so far. Is 150 per month too expensive?

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My insurance rates just went up $100 a month because of speeding tickets I got last year. I took an improvement class right after I got the ticket and am also getting ready to turn 25. I was hoping my rates would go down and nit up to $250 a month. Anyone know any companies?

Age requirement for car and insurance?

Hey guys, I'm currently 16, and I'm wondering what's the age requirement to own a car, and also insure it with car insurance My parents are not going to get me car insurance, they made so many excuses, and because my salary is about 600 a month, working for only 1 day a week. I could accord a car by the end of this year. I don't see why my parents won't get me car insurance for my dads car. so i might as well buy my own car and see what their excuse is. Alright, back to the subject, im just wondering what's the age requirement to get a car under my name, and car insurance.

Can anyone be added to insurance?

I was curious if my dad could get me on his insurance plan (medical)? I can't afford insurance and I'm suffering from tooth pains, psychological illnesses, and need medical attention. I'm supposedly too old (26), but I wanted to know if my father could add me onto his insurance another way? Thanks.

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I bought a video-recorder for my car as project.Keeping in mind cyclists and other motorist are driving mental sometimes in London can I get my insurance down if I got a recording device in my car.Did anyone managed to do that?

Buying an insurance write off ( car )?

I was wondering if it was possible to buy an insurance write off for the purpose of using it off road, for things such as car trials and banger racing? i know that if a car is category C or below, it can be returned to the road after repairs, but what are the rules as to off road use?

Are insurance companies allowed to take skin colour into consideration when working out a cost?

If it is found that black people make more claims can the use this

Car insurance question?

If something happens to your car and it falls under comprehensive coverage, will your insurance premium go up after the incident?

Are company's allowed to bump up your no claims for you so you get cheaper insurance ?

A family member of mine bought a car last year from a dealership and bought the insurance through them for ease, they hadn't had a car for a few years and so lost there no claims bonus however it would seem that the company put that he had a 5 years no claim bonus on anyway so that he would get his insurance cheaper, is this legal ? Also a year has now passed and so they are looking to get insurance somewhere else because other places offer even cheaper prices, however the insurance company are saying if he moves to another insurer they will say he only has 1 year no claims, but if he stays with them he can keep his 5 years no claims and that seems a little bit shifty to. This isn't really a question but still any input on the matter would be brilliant, thanks.

What's the best site for Cheap Car Insurance?

Besides progressive and esurance... Anyone know of a better site or sites regarding Cheap Car Insurance Online? I just got my first car, it's got a salvage title so I'm choosing a one-way liability. I'm still in H.S. with a part time job, so it would really help if you guys can help point me in the right direction to a site that's cheap and affordable on a minimum wage budget. Thanks ya.

What are my options regarding insurance?

My insurance coverage ended on Dec 9 and i forgot to pay for the renewal. According to the letter I received last week my insurance company will reinstate me if I paid by Dec 29th. So I paid today. However a guy hit a bunch of parked cars including my car in a parking lot and died on the spot. This happened last night. I will get the police report next week from our local police station. So now what should i do? Should i wait for the police report and file a claim against this guy's insurance company? Should I contact my insurance company and ask them to deal with it? Will they actually agree to handle this claim?

Car insurance like for like, just like other insurances?

My cheapish car was written off after someone bashed into the back of it. I am brokeish and need a car to get to work. The car cost 400 and the insurance company might give me 200 if I am lucky. Surely the Insurance company should just replace the car with the same or similar model, so I am back to where I was before the lorry crashed into the back of my car. because now I have to find money I do not have just to get to work! There is something wrong here somewhere as it is costing me and I have not actually done anything except be the victim here. Is like for like possible with car insurance?

Classic car insurance for young drivers?

I'm 17 years old and my father is trying to insure me for the classic cars we own. But the insurance company that we're with as of right now says I must be 24 before I can be insured under a classic car (or something along those lines). I am already insured under three newer cars as a secondary driver. Are there any insurance companies that will insure young drivers under a classic car? What if I was registered as a secondary driver for the classic car? Any answers are appreciated.

Car insurance question. Help desperately needed, please!?

Here's the situation. Before I start here, I will say I have never sold a car/transferred insurance in my life until now (I'm 37) and I'm panicking. (Please don't laugh; I am somewhat mentally disabled and have a hard time understanding business side of things). Please bear with me: I have a 2000 Chevrolet Malibu with 178,000 miles on it. Last Friday, my husband's brother decided to give his 2005 Hyundai Elantra (53,000 miles) to us as a free gift. We decided to sell the Malibu to some friends of ours (with whom we have been friends for quite a few years). My friends have already paid us and they have a Bill of Sale and next week we are getting a duplicate of the Chevy title in the mail (because we lost ours), at which time we will transfer. Here is where the confusion begins: My mother-in-law (who is a retired State Farm insurance agent) drew up a Bill of Sale that indicated as its last sentence at the end, Buyer will show proof of liability insurance at the time the car is received (or something like that; I don't have the Bill of Sale in front of me). We saw our friends today to get the Bill of Sale notarized (they already paid for the car; we're just waiting for the title for the Malibu to arrive via mail, as mentioned above). Their insurance agent is about 90 miles away, I find out, and will need pictures of the car. Our friends insist that my mother-in-law is just being a mom since we're new at such a transaction (our friends have owned and sold boats, cars, etc., so they are experienced at this, too), meaning that she's being overcautious by saying they need to present proof of liability insurance at the exact time I give them the keys to the car. So, once I give them the title and the keys, are they responsible for when they get the car insurance? My Hyundai is covered through my insurance agent (my mother-in-law called them and got coverage on it already), but she insists that I am not to get insurance verification on the Hyundai until the friends show proof of their insurance on the Malibu after they get possession of it. Is that correct, or is my mother-in-law just being overcautious? (I would think that once I switch the Malibu title to my friends' name and give them the keys, that would relieve me of any responsibility any longer to the Malibu). Help me, please. I am so confused; I have my mother-in-law telling me one thing, and my friends telling me another. Both sound correct. So would I be right if I did these (in this exact order): 1) switch the title over to their name & give them the keys to the Malibu. 2) call my insurance agent and report that I sold my Malibu, and ask them to type insurance vertification for the Hyundai. (would I have to be present in person for them to type the verification for the Hyundai? Also, would my report of me selling the Malibu mean that they would cancel the insurance on it immediately?) I am sorry this is so lengthy; I tried to explain this the best as I could. I just want to do what is correct in the eyes of the law.

Cheapest way to get car insurance!?

I recently just passed my driving test and a know car insurance isnt cheap. The cheapest i have been quoted is a little under 5000 on a 1.2 Vauxhal Corsa. I know there is a way if you make one of your parents the main driver on your car and you are a named driver but by doing that its illegal (if you are really the main driver) and if you crash they will not cover you. Is there any other way which isnt illegal to get cheap insurance!? Even anything under 3000 would be defined as cheap for me!

Can I drive my car without insurance ?

Okay, so I've had my Chevy taho 1 year, i just canceled my insurance cause I'm about to sell it I'm living in California moving to Colorado so I'm gonna sell my car...I know in cali Seller must smog the car a 2nd time, but am i taking a risk driving it to go get it smoged? also.... i have not driven it cause I planned on selling it so it's also not renewed.... and to make matters worse I lost my tile, positive honest answers please =(

Car insurance help please ?

Basically i have bought a car and i need to insure it as my dad as the main driver as he has 20+ years of no claim bonuses and it bring the insurance price down to a manageable payment for me.the problem is that its not with the same company that my dad is currently with and he doesn't have any recent renewal quotes so i don't have proof of his no claims bonus.how can i get proof and will i need the proof before i try to get the insurance ? im 18 and a first driver so i really need my dads ncb to be able to afford insurance

What is The Age Limit To Use My Medical Insurance?

Hi I'm 20 years old and i want to know what is the age limit medical insurance covers? I hardly use it and now that i need it to have an eye check, I don't know if it will cover me... I reside in California. Thank You!

How much more will it cost to add another car to insurance for a teenager with license, already have to cars?

I have already two cars with Mercury insurance, and how much more will the price raise to add a third car to Insurance for a teenager who has license

What is a good and cheap insurance company for young drivers ?

What is the cheapest economical car i can buy in the UK?

i want cheap insurance, tax and fuel consider that i am 18 years old dont want a box under the car

New Laws in CA????? Help , Can Someone tell me About this New laws in Cal about you have have to have car Insurance?, I thought that that was already a law? Was it?? And if you regiester a car in CA. you must have car insurance or your brecking the law ? True or false ?????

About how much more would insurance be on this car?

i want to get a chrysler sebring convertible. i tried calculating insurance but it didnt ask if it was a convertible or not. Im just trying to see how much more the insurance would be since its a convertible.SO! how much more would insurance be on a 99 sebring coupe than a 99 sebring convertible. it would have 46000 miles.

Which cars are cheapest to insure?

I've had some problems in the past and my insurance is through the roof. I'd like to finance a car, but I don't want to have to rob banks to afford it. Does it cost different amounts to insure cars? Which are on the cheaper end of that spectrum?

How to record Journal Entry for insurance claim?

https://www.linkedin.com/pulse/what-happens-someone-without-insurance-rear-ends-me-michael-mann/