Print
The Vermont Statutes Online
Title
08
:
Banking and Insurance
Chapter
113
:
LIABILITY INSURANCE
Subchapter
002
:
CANCELLATION OF POLICIES
§
4222. Definitions
The following
definitions, unless otherwise specified or qualified, shall be applicable to
this subchapter:
(1)
"Policy" means an automobile liability policy providing bodily injury
liability, property damage liability, medical payments and uninsured motorist
coverage, or any combination thereof, delivered or issued for delivery in this
State, insuring a single individual or husband and wife resident of the same
household, as named insured, and under which the insured vehicles therein
designated are of the following types only:
(A) A motor
vehicle of the private passenger or station wagon type that is not used as a
public or livery conveyance for passengers, nor rented to others; or
(B) Any other
four-wheel motor vehicle with a load capacity of 1,500 pounds or less which is
not used in the occupation, profession, or business of the insured; provided,
however, that absent specific language to the contrary, this subchapter shall
not apply to any policy issued under the Vermont Automobile Insurance Plan, nor
shall it apply to any policy insuring more than four automobiles, or to any
policy covering garage, automobile sales agency, repair shop, service station,
or public parking place operation hazards, or to any policy of insurance issued
principally to cover personal or premises liability of an insured even though
such insurance may also provide some incidental coverage for liability arising
out of the ownership, maintenance, or use of a motor vehicle on the premises of
such insured or on the ways immediately adjoining such premises.
(2)
"Renewal" or "to renew" means the issuance and delivery by
an insurer of a policy replacing at the end of the policy period a policy
previously issued and delivered by the same insurer, or the issuance and
delivery of a certificate or notice extending the term of the policy beyond its
policy period or term; provided, however, that any policy with a policy period
or term of less than six months shall for the purpose of this subchapter be
considered as if written for a policy period or term of six months. Provided,
further, that any policy written for a term longer than one year or any policy
with no fixed expiration date, shall for the purpose of this subsection be
considered as if written for successive policy periods or terms of one year,
and such policy may be terminated at the expiration of any annual period upon
giving 30 days' notice of nonrenewal prior to such anniversary date, and such
nonrenewal shall not be subject to any other provisions of this subchapter.
(3)
"Nonpayment of premium" means failure of the named insured to
discharge when due any of his or her obligations in connection with the payment
of premiums on the policy, or any installment of such premium, whether the
premium is payable directly to the insurer or its agent or indirectly under any
premium finance plan or extension of credit. (Added 1971, No. 195 (Adj. Sess.),
§ 1; amended 1977, No. 223 (Adj. Sess.), §§ 1, 9.)