Auto 4

Question 1

This term generally excludes anything that is not permanently attached to the vehicle unless it is specifically designed for use with the vehicle

Answer 1

Equipment

Question 2

Own damage coverage direct loss and accidental loss of or damage to the vehicle and equipment. This is optional coverage unless leased then the lessee might require this coverage. Who get indemnified under this coverage

Answer 2

The insured

Question 3

There are four subsections under the owned or first party damage what are these

Answer 3

All perils
Collision and upset
Comprehensive
Specified perils

Question 4

These are covered under specified perils for owned damage coverage

Answer 4

Fire
Theft or attempted theft
Lightning
Windstorm, hail or rising water
Earthquake
Explosion
Riot or civil disturbance
Falling or forced landing of aircraft or parts thereof
Standing, sinking, burning, derailment or collison of any conveyance in or upon which a described automobile is being carried on land or water

Question 5

These are some losses not covered by specified perils and you would need comprehensive coverage to protect against these

Answer 5

Vandalism mischief, glass breakage, impact with an animal

Question 6

This coverage protects automobiles against all perils other then collison or upset

Answer 6

Comprehensive

Question 7

This coverage indemnifies the insured for damage to the vehicle caused by collisions with another vehicle, person object or surface of the road or by upset

Answer 7

Collison or upset

Question 8

This is the broadest of coverages

Answer 8

All perils

Question 9

This coverage combines collision or upset with comprehensive coverages

Answer 9

All perils

Question 10

Exclusion. There is no coverage for loss or damage for the following unless they are a result of a covered peril

Answer 10

Tires
Caused by mechanical fracture or breakdown
Caused by rusting, corrosion wear and tear, freezing or explosion within the engine

Question 11

What are the four theft exclusions for loss damage coverage first party coverage

Answer 11

Conversion- anyone who has legal possession of it under a written agreememt

Voluntary parting with title- even if bought with fraud

Persons living in the insureds household- this is covered in all perils coverage

Theft by employee- this is covered if you have all perils coverage

Question 12

Which 2 types of theft normally excluded under the loss damage policy are covered if all perils included

Answer 12

Theft by employee

Theft by someone living in the same household

Question 13

A tape attached to the stereo becomes part of the vehicle as well but coverage for this type of recorded material i limited to

Answer 13

25$

Question 14

Loss or damage the insured selects the deductible. For collision the standard is usually_________
For comprehensive the standard usually is ________

Answer 14

500$

500$

Question 15

What two perils under the loss or damage are not subject to deductibles

Answer 15

Lightning

Fire

Question 16

Under the own damage coverage there is additional coverage for physical damage to the insured automobile. The policy also covers some related expenses which often arise as a result of an automobile accident. what are these

Answer 16

Payment of charges - general average charges transportation by water, salvage charges, fire dept charges, customs duties

Foregoing right to recover - subrogation waived

Temporary substitute automobiles - an auto not owned by the insured or anyone else living in the same dwelling

Loss of use due to theft - rental or other transportation up to 900$

Question 17

An automobile now owned by the insured or anyone living in the same household and it is replacing a vehicle due to breakdown, theft, repair, servicing, sale or destruction

Answer 17

TSA temporary substitute automobile