9-12 Flashcards
List the described autos covered under automobile defined
Newly acquired automobiles
Temporary substitute automobile
Other automobiles or borrowed automobiles
Trailers
Described automobile definition
The vehicle identified in an insurance policy
Newly acquired automobile
An automobile or trailer an insured newly owns that is not covered by any other insurance policy. It must be a replacement or an additional automobile (not for rental or one belonging to another household )
Other automobile
A non-owned automobile that is not owned by anyone in the household and dies not have insurance coverage
Certificate of insurance
Written document stating that insurance is in effect. It includes a general statement of policy’s coverage
What coverages can the owners policy extend to other automobiles
Third party liability
Accident benefits
What conditions must be met for coverage to other automobiles for liability, accident benefits, and uninsured automobile coverage
The other automobile must be a private passenger or a station wagon type
The other automobile must be personally driven by the insurer or by the insureds spouse who loves in the same household
The other automobile must not have a manufacturers GVWR of more then 4,500
The named insured under the owners policy extending coverage to the other automobile must be individual or the named insureds must be spouses of eachother
The insured or spouse must not be driving the other automobile in connection with selling repairing maintaining storing servicing or parking automobiles
The other automobile must not be used for carrying passengers or to make commercial deliveries
For all other coverages, except accident benefits the other automobile cannot be an automobile that the insured or anyone living in the insureds household owns or regularly uses.
The other automobile can’t be owned hired or leased by the insureds employer or anyone living in the insureds household
What coverage is applied if a trailer is in connection to the automobile and what coverage is applied to the trailer if it’s not in connection to the automobile?
Third party liability coverage , accident benefits, and uninsured automobile coverage will apply to any trailer used in connection to the automobile
DCPD will apply to owned trailers that are not described on the policy if the trailer:
- Is attached to or normally used with an automobile with a GVWR of not more than 4500 kilos and
- is not designed or user for living in to carry passengers or for commercial purposes
What are excluded uses where there is no coverage under a policy if the automobile is used ( 2 )
To carry explosives or radio active material or
As a taxi cab , bus , a sight seeing conveyance or to carry paying passengers
What is not considered to be carrying paying passengers which is not excluded?
Giving a ride to someone in return for a ride
Sharing the cost of an occasional trip with others in the automobile
Carrying domestic worker hired by the insured or spouse
Occasionally carrying children to or from school activities that are conducted within the educational program
Carrying current or prospective clients or customers
Reimbursing volunteer drivers for their reasonable driving expenses including gas veh wear and tear and meals
Garage workers exclusion
No person who sells, repairs, stores, services, or parks automobiles as part of a business is covered by this policy while involved in conducting that business, unless the person in fact owns the automobile involved in an incident. They are covered by SPF 6 garage policy
War risks exclusion
This provision states that the insurer will not be liable under any coverages except third party liability for any loss damage injury or death caused by war activities as including bombardment invasion civil war insurrection rebellion revolution coup or actions of armed forces while engaged in a war whether declared or not
Define the difference between carsharing and ridesharing
Carsharing- an arrangement set up by means of a website or mobile app that links renters and car owners sometimes called peer to peer lending
Ride sharing - when the owner of the vehicle picks up passengers for compensation.
Insurers and regulators have been working to develop solutions to the growing risk of uninsured drivers. To be effective a solution must encompass the following
A rating structure that charges ride share drivers a fair rate based on their use
Premiums that cover claims so that personal use policy holders do not subsidize ride sharing drivers
Market availability for ridesharing drivers
Premiums that are reasonably affordable
Eligibility criteria to get covered under the ridesharing endorsement
They must be contacted with a TNC
They must not exceed the max number of driving hours
They must meet min licensing and driver experience guide lines
