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 Glossary   >   K   >   "Knock for knock agreement" Definition   

        Knock for knock agreement

Although it currently rarely applies, this is a motor insurance term describing an agreement between insurance companies where each pays the claims of its own clients following an accident. This principle applies irrespective of blame and seeks to save time and expense. One of the parties involved in such circumstances may however seek to sue the other and if successful may claim from the other"s insurers.

Knock for knock agreement
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Knock for knock agreement \ Although it currently rarely applies, this is a motor insurance term describing an agreement between insurance companies where each pays the claims of its own clients following an accident. This principle applies irrespective of blame and seeks to save time and expense. One of the parties involved in such circumstances may however seek to sue the other and if successful may claim from the other"s insurers.


Knock for knock agreement / although it currently rarely applies, this is a motor insurance term describing an agreement between insurance companies where each pays the claims of its own clients following an accident. this principle applies irrespective of blame and seeks to save time and expense. one of the parties involved in such circumstances may however seek to sue the other and if successful may claim from the other"s insurers.