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Question 1

Property Damage Liability Insurance

Answer 1

Protection against liability for damage to the property of another, including the loss of the use of property

Question 2

Bodily Injury (auto)

Answer 2

meaning physical injury, including sickness, disease, mental injury, shock, or death

Question 3

Standard Automobile Policy Owner’s Form 1

Answer 3

SPF 1 - Types of coverage:

• Third Party Liability
• Direct-Compensation - property Damage
• Physical Damage
• Accident Benefits

Question 4

Third Party Liability Coverage

Answer 4

designed to provide protection for the liability imposed by law upon the insured for bodily injury or death of any persons or damage to their property arising out of the ownership, use, or operation of an automobile

Question 5

Minimum limits are $200k everywhere except

Answer 5

Quebec and Nova Scotia

Question 6

Minimum Limits

Answer 6

The smallest amount of TPL insurance that may be purchased in any Canadian jurisdiction

Question 7

Direct Compensation - Property Damage

Answer 7

Covers damage to, or the loss of use of, an automobile or its contents, to the extent that the driver of another vehicle was at fault for the accident.
Called direct, because even though it was someone else’s fault you collect straight from your insurer

Question 8

Direct Compensation

Answer 8

In the event of an accident, each insured will obtain compensation from his or her insurer according to the insured’s degree of fault for an accident. If you are 50% to blame you only collect 50%

Question 9

Own Damage

Answer 9

Damage to the insured’s own vehicle

Question 10

Accident Benefits

Answer 10

indemnity provided to an insured on a first-party basis towards the cost of medical and rehab care for the treatment and recovery of injuries arising out of the use or operation of an insured’s property

Question 11

Which Provinces have Government Insurance Schemes

Answer 11

Saskatchewan, BC, Manitoba