ON DEMAND: Types of Casualty Policies

Question 1

Personal Auto General Form Structure And Definitions

PAP - Personal Auto Policy

Answer 1

Personal Auto General Form Structure And Definitions

PAP - Personal Auto Policy

Question 2

Personal Auto General Form Structure And Definitions

Why most people buy insurance: because they need to or are required to. Not because they understand how the protection works. “I just want the minimums” leaves them exposed.

Answer 2

Personal Auto General Form Structure And Definitions

Why most people buy insurance: because they need to or are required to. Not because they understand how the protection works. “I just want the minimums” leaves them exposed.

Question 3

Personal Auto General Form Structure And Definitions

COVERAGE PARTS
- Part A | Liability (liability to others … that pays the other party. Once coverage limits are exhausted, the individual could be help liable

Answer 3

Personal Auto General Form Structure And Definitions

COVERAGE PARTS
- Part A | Liability (liability to others … that pays the other party. Once coverage limits are exhausted, the individual could be help liable.

Question 4

Personal Auto General Form Structure And Definitions

COVERAGE PARTS
- Part B | Medical Payments

Answer 4

Personal Auto General Form Structure And Definitions

COVERAGE PARTS
- Part B | Medical Payments

Question 5

Personal Auto General Form Structure And Definitions

COVERAGE PARTS
- Part C | Uninsured motorist

Answer 5

Personal Auto General Form Structure And Definitions

COVERAGE PARTS
- Part C | Uninsured motorist

Question 6

Personal Auto General Form Structure And Definitions

COVERAGE PARTS
- Part D | Damage to your auto

Answer 6

Personal Auto General Form Structure And Definitions

COVERAGE PARTS
- Part D | Damage to your auto

Question 7

Personal Auto General Form Structure And Definitions

COVERAGE PARTS
- Part E | Duties after a loss

Answer 7

Personal Auto General Form Structure And Definitions

COVERAGE PARTS
- Part E | Duties after a loss

Question 8

Personal Auto General Form Structure And Definitions

COVERAGE PARTS
- Part F | General Provisions

Answer 8

Personal Auto General Form Structure And Definitions

COVERAGE PARTS
- Part F | General Provisions

Question 9

Personal Auto General Form Structure And Definitions

DEFINITIONS OF AN AUTO

AUTO

• Private passenger auto, pickup truck or van
• Temporary substitute
• Owned trailer

Answer 9

Personal Auto General Form Structure And Definitions

DEFINITIONS OF AN AUTO

AUTO

• Private passenger auto, pickup truck or van
• Temporary substitute
• Owned trailer

Question 10

Personal Auto General Form Structure And Definitions

DEFINITIONS OF AN AUTO

COVERED AUTO
- Any vehicle shown in the Declarations, including newly acquired auto or trailer

Answer 10

Personal Auto General Form Structure And Definitions

DEFINITIONS OF AN AUTO

COVERED AUTO
- Any vehicle shown in the Declarations, including newly acquired auto or trailer

Question 11

Personal Auto General Form Structure And Definitions

DEFINITIONS OF AN AUTO

NEWLY ACQUIRED AUTO
- Vehicles acquired by the insured during the policy period

Answer 11

Personal Auto General Form Structure And Definitions

DEFINITIONS OF AN AUTO

NEWLY ACQUIRED AUTO
- Vehicles acquired by the insured during the policy period

Question 12

Personal Auto General Form Structure And Definitions

DEFINITIONS

Named insured - “YOU”
- Person shown in the Declarations

Answer 12

Personal Auto General Form Structure And Definitions

DEFINITIONS

Named insured - “YOU”
- Person shown in the Declarations

Question 13

Personal Auto General Form Structure And Definitions

DEFINITIONS

Named insured - “YOU”
- Spouse of the named insured if a resident of the same household

Answer 13

Personal Auto General Form Structure And Definitions

DEFINITIONS

Named insured - “YOU”
- Spouse of the named insured if a resident of the same household

Question 14

Personal Auto General Form Structure And Definitions

DEFINITIONS

Insured
- Named insured (where billings go and whom insurance company communicates with)

Answer 14

Personal Auto General Form Structure And Definitions

DEFINITIONS

Insured
- Named insured (where billings go and whom insurance company communicates with)

Question 15

Personal Auto General Form Structure And Definitions

DEFINITIONS

Insured
- Family member

Answer 15

Personal Auto General Form Structure And Definitions

DEFINITIONS

Insured
- Family member

Question 16

Personal Auto General Form Structure And Definitions

DEFINITIONS

Insured
- Person using the vehicle with the insured’s permission

Answer 16

Personal Auto General Form Structure And Definitions

DEFINITIONS

Insured
- Person using the vehicle with the insured’s permission

Question 17

Personal Auto General Form Structure And Definitions

DEFINITIONS

Insured
- Any person while occupying a covered vehicle

Answer 17

Personal Auto General Form Structure And Definitions

DEFINITIONS

Insured
- Any person while occupying a covered vehicle

Question 18

Personal Auto General Form Structure And Definitions

DEFINITIONS

Insured
- Any other person entitled to recover damage due to injuries to the named insured

Answer 18

Personal Auto General Form Structure And Definitions

DEFINITIONS

Insured
- Any other person entitled to recover damage due to injuries to the named insured

Question 19

Personal Auto General Form Structure And Definitions

COLLISION AND OTHER-THAN-COLLISION

COLLISION
- a covered vehicle or nonowned auto is impacted by another vehicle or object

Answer 19

Personal Auto General Form Structure And Definitions

COLLISION AND OTHER-THAN-COLLISION

COLLISION
- a covered vehicle or nonowned auto is impacted by another vehicle or object

Question 20

Personal Auto General Form Structure And Definitions

COLLISION AND OTHER-THAN-COLLISION

OTHER-THAN-COLLISION
Damage to a covered vehicle caused by
- falling objects
- fire
- theft or larceny
- earthquake
- windstorm
- hail
- vandalism
- contact with birds or animals (OTHER THAN COLLISION, NOT COLLISION)

Answer 20

Personal Auto General Form Structure And Definitions

COLLISION AND OTHER-THAN-COLLISION

OTHER-THAN-COLLISION
Damage to a covered vehicle caused by
- falling objects
- fire
- theft or larceny
- earthquake
- windstorm
- hail
- vandalism
- contact with birds or animals (OTHER THAN COLLISION, NOT COLLISION)

Question 21

Part A - Liability

SPLIT LIMITS
- 1st Limit Bodily Injury (per person)

Answer 21

Part A - Liability

SPLIT LIMITS
- 1st Limit Bodily Injury (per person)

Question 22

Part A - Liability

SPLIT LIMITS
- 2nd Limit Bodily Injury (per accident)

Answer 22

Part A - Liability

SPLIT LIMITS
- 2nd Limit Bodily Injury (per accident)

Question 23

Part A - Liability

SPLIT LIMITS
- 3rd Limit Property Damage (per accident)

Answer 23

Part A - Liability

SPLIT LIMITS
- 3rd Limit Property Damage (per accident)

Question 24

Part A - Liability

COMBINED SINGLE LIMIT
- Single limit for Bodily Injury and property damage

Answer 24

Part A - Liability

COMBINED SINGLE LIMIT
- Single limit for Bodily Injury and property damage

Question 25

Policy Limits SPLIT LIMITS - Separately stated limits of liability for different coverages.

Answer 25

Policy Limits SPLIT LIMITS - Separately stated limits of liability for different coverages.

Question 26

Policy Limits SPLIT LIMITS - per person, per occurrence, or per policy period

Answer 26

Policy Limits SPLIT LIMITS - per person, per occurrence, or per policy period

Question 27

Policy Limits SPLIT LIMITS - Split between bodily injury and property damage

Answer 27

Policy Limits SPLIT LIMITS - Split between bodily injury and property damage

Question 28

Policy Limits SPLIT LIMITS 25/50/25 - First 25 - Injury to a single person

Answer 28

Policy Limits SPLIT LIMITS 25/50/25 - First 25 - Injury to a single person

Question 29

Policy Limits SPLIT LIMITS 25/50/25 - 50 - Total coverage for bodily injury to multiple people

Answer 29

Policy Limits SPLIT LIMITS 25/50/25 - 50 - Total coverage for bodily injury to multiple people

Question 30

Policy Limits SPLIT LIMITS 25/50/25 - Last 25 damage to property of others

Answer 30

Policy Limits SPLIT LIMITS 25/50/25 - Last 25 damage to property of others

Question 31

POLICY LIMITS PER OCCURRENCE VS. PER PERSON LIABILITY PER OCCURRENCE - Maximum payment for ALL CLAIMS that arise from a SINGLE ACCIDENT OR OCCURRENCE PER PERSON - Maximum payment for bodily injury to a single person in an accident, regardless of policy limits

Answer 31

POLICY LIMITS PER OCCURRENCE VS. PER PERSON LIABILITY PER OCCURRENCE - Maximum payment for ALL CLAIMS that arise from a SINGLE ACCIDENT OR OCCURRENCE

Question 32

POLICY LIMITS PER OCCURRENCE VS. PER PERSON LIABILITY PER PERSON - Maximum payment for bodily injury to a single person in an accident, regardless of policy limits

Answer 32

POLICY LIMITS PER OCCURRENCE VS. PER PERSON LIABILITY PER PERSON - Maximum payment for bodily injury to a single person in an accident, regardless of policy limits

Question 33

POLICY LIMITS AGGREGATE LIMIT Maximum limit of coverage under a liability policy during the policy term

Answer 33

POLICY LIMITS AGGREGATE LIMIT Maximum limit of coverage under a liability policy during the policy term

Question 34

POLICY LIMITS AGGREGATE LIMIT - Applies regardless of the number of claims or number of accidents

Answer 34

POLICY LIMITS AGGREGATE LIMIT - Applies regardless of the number of claims or number of accidents

Question 35

POLICY LIMITS AGGREGATE LIMIT - Limits restored at the anniversary of the policy Aggregate limit - claim = aggregate limit

Answer 35

POLICY LIMITS AGGREGATE LIMIT - Limits restored at the anniversary of the policy Aggregate limit - claim = aggregate limit

Question 36

Part B - Medical Payments What does it cover - Medical and funeral expenses

Answer 36

Part B - Medical Payments What does it cover - Medical and funeral expenses

Question 37

Part B - Medical Payments What does it cover - Pays per person, per accident

Answer 37

Part B - Medical Payments What does it cover - Pays per person, per accident

Question 38

Part B - Medical Payments What does it cover - For accidents up to 3 years old

Answer 38

Part B - Medical Payments What does it cover - For accidents up to 3 years old

Question 39

Part C - Uninsured Motorists UM COVERAGE - Pays for BODILY INJURY if the vehicle owner who caused damages

Answer 39

Part C - Uninsured Motorists UM COVERAGE - Pays for BODILY INJURY if the vehicle owner who caused damages > Has no insurance or bond

Question 40

Part C - Uninsured Motorists UM COVERAGE - Pays for BODILY INJURY if the vehicle owner who caused damages > Has insurance amount that is less than required by the financial responsibility laws > Has insurance from an insolvent company > Cannot be identified (hit-and-run accident)

Answer 40

Part C - Uninsured Motorists UM COVERAGE - Pays for BODILY INJURY if the vehicle owner who caused damages > Has insurance amount that is less than required by the financial responsibility laws

Question 41

Part C - Uninsured Motorists UM COVERAGE - Pays for BODILY INJURY if the vehicle owner who caused damages > Has insurance from an insolvent company

Answer 41

Part C - Uninsured Motorists UM COVERAGE - Pays for BODILY INJURY if the vehicle owner who caused damages > Has insurance from an insolvent company

Question 42

Part C - Uninsured Motorists UM COVERAGE - Pays for BODILY INJURY if the vehicle owner who caused damages > Cannot be identified (hit-and-run accident)

Answer 42

Part C - Uninsured Motorists UM COVERAGE - Pays for BODILY INJURY if the vehicle owner who caused damages > Cannot be identified (hit-and-run accident)

Question 43

Part C - Uninsured/Underinsured Motorists UIM COVERAGE - Pays for the difference between the insured's UIM limits and the at-fault driver's bodily injury limits

Answer 43

Part C - Uninsured/Underinsured Motorists UIM COVERAGE - Pays for the difference between the insured's UIM limits and the at-fault driver's bodily injury limits

Question 44

Part C - Uninsured/Underinsured Motorists UIM COVERAGE - Helps compensate for insufficient coverage

Answer 44

Part C - Uninsured/Underinsured Motorists UIM COVERAGE - Helps compensate for insufficient coverage

Question 45

Part D - Damage To Your Auto - Includes collision and other-than-collision

Answer 45

Part D - Damage To Your Auto - Includes collision and other-than-collision

Question 46

Part D - Damage To Your Auto - optional coverage; usually subject to deductible

Answer 46

Part D - Damage To Your Auto - optional coverage; usually subject to deductible

Question 47

Part D - Damage To Your Auto - only applies when a premium is shown on the Declarations

Answer 47

Part D - Damage To Your Auto - only applies when a premium is shown on the Declarations

Question 48

Part D - Damage To Your Auto LIMIT OF LIABILITY - Either the ACTUAL CASH VALUE (replacement cost - depreciation) of the vehicle at the time of loss or the AMOUNT NEEDED FOR REPAIR OR REPLACEMENT (whichever is LESS)

Answer 48

Part D - Damage To Your Auto LIMIT OF LIABILITY - Either the ACTUAL CASH VALUE (replacement cost - depreciation) of the vehicle at the time of loss or the AMOUNT NEEDED FOR REPAIR OR REPLACEMENT (whichever is LESS)

Question 49

Part D - Other provisions PAYMENT OF LOSS - Payment, repair, or replacement of damaged or stolen property

Answer 49

Part D - Other provisions PAYMENT OF LOSS - Payment, repair, or replacement of damaged or stolen property

Question 50

Part D - Other provisions NO BENEFIT TO BAILEE - insurance does not directly or indirectly benefit any carrier or bailee

Answer 50

- Part D - Other provisions NO BENEFIT TO BAILEE - insurance does not directly or indirectly benefit any carrier or bailee

Question 51

Part D - Other provisions OTHER SOURCES OF RECOVERY - if other insurance is applicable, insurer pays on a proportional basis

Answer 51

Part D - Other provisions OTHER SOURCES OF RECOVERY - if other insurance is applicable, insurer pays on a proportional basis

Question 52

Part D - Other provisions APPRAISAL - if the insured and insurer cannot agree on a settlement, either party may demand an appraisal, and each party selects an appraiser

Answer 52

Part D - Other provisions APPRAISAL - if the insured and insurer cannot agree on a settlement, either party may demand an appraisal, and each party selects an appraiser

Question 53

Part E - Duties After A Loss - Prompt notification of loss

Answer 53

Part E - Duties After A Loss - Prompt notification of loss

Question 54

Part E - Duties After A Loss - Cooperating with the insurer

Answer 54

Part E - Duties After A Loss - Cooperating with the insurer

Question 55

Part E - Duties After A Loss - Forwarding any pertinent legal papers

Answer 55

Part E - Duties After A Loss - Forwarding any pertinent legal papers

Question 56

Part E - Duties After A Loss - Submitting to a physical exam if requested by the insurer

Answer 56

Part E - Duties After A Loss - Submitting to a physical exam if requested by the insurer

Question 57

Part E - Duties After A Loss - Allowing the insurer access to medical records

Answer 57

Part E - Duties After A Loss - Allowing the insurer access to medical records

Question 58

Part E - Duties After A Loss - Submitting proof of loss

Answer 58

Part E - Duties After A Loss - Submitting proof of loss

Question 59

Part E - Duties After A Loss - Notifying the police of a hit-and-run accident or a vehicle theft

Answer 59

Part E - Duties After A Loss - Notifying the police of a hit-and-run accident or a vehicle theft

Question 60

Part E - Duties After A Loss - protecting the property from further loss

Answer 60

Part E - Duties After A Loss - protecting the property from further loss

Question 61

Part E - Duties After A Loss - allowing the insurer to inspect and appraise the damaged property

Answer 61

Part E - Duties After A Loss - allowing the insurer to inspect and appraise the damaged property

Question 62

Part F - General Provisions COMMON POLICY CONDITIONS - Bankruptcy -- Does not relieve the INSURER from its obligations

Answer 62

Part F - General Provisions COMMON POLICY CONDITIONS - Bankruptcy -- Does not relieve the INSURER from its obligations

Question 63

Part F - General Provisions COMMON POLICY CONDITIONS - Policy changes - may only be effected by endorsements

Answer 63

Part F - General Provisions COMMON POLICY CONDITIONS - Policy changes - may only be effected by endorsements

Question 64

Part F - General Provisions COMMON POLICY CONDITIONS - Fraud -- no coverage if insured has made fraudulent statements

Answer 64

Part F - General Provisions COMMON POLICY CONDITIONS - Fraud -- no coverage if insured has made fraudulent statements

Question 65

Part F - General Provisions COMMON POLICY CONDITIONS - Subrogation -- insurer's right to recover payment

Answer 65

Part F - General Provisions COMMON POLICY CONDITIONS - Subrogation -- insurer's right to recover payment

Question 66

Part F - General Provisions COMMON POLICY CONDITIONS - Policy period and territory -- time period and location where coverage applies

Answer 66

Part F - General Provisions COMMON POLICY CONDITIONS - Policy period and territory -- time period and location where coverage applies

Question 67

Part F - General Provisions COMMON POLICY CONDITIONS - Termination -- rights and duties of the insurer and insured to cancel or nonrenewal coverage (10 days notice, if on books for longer than 60 days, requires 30 days notice )

Answer 67

Part F - General Provisions COMMON POLICY CONDITIONS - Termination -- rights and duties of the insurer and insured to cancel or nonrenewal coverage (10 days notice, if on books for longer than 60 days, requires 30 days notice )

Question 68

Selected Endorsements ``` MISCELLANEOUS TYPE VEHICLE ENDORSEMENT Expands the definition of a covered auto to include the following motorized vehicles: - Motorcycles - Motor homes - Other recreational vehicles - Dune buggies - Golf carts ``` No liability and medical payments exclusion regarding vehicles with fewer than 4 wheels No coverage for vehicles that are borrowed or rented

Answer 68

Selected Endorsements ``` MISCELLANEOUS TYPE VEHICLE ENDORSEMENT Expands the definition of a covered auto to include the following motorized vehicles: - Motorcycles - Motor homes - Other recreational vehicles - Dune buggies - Golf carts ```

Question 69

Selected Endorsements MISCELLANEOUS TYPE VEHICLE ENDORSEMENT No liability and medical payments exclusion regarding vehicles with fewer than 4 wheels

Answer 69

Selected Endorsements MISCELLANEOUS TYPE VEHICLE ENDORSEMENT No liability and medical payments exclusion regarding vehicles with fewer than 4 wheels

Question 70

Selected Endorsements MISCELLANEOUS TYPE VEHICLE ENDORSEMENT No coverage for vehicles that are borrowed or rented

Answer 70

Selected Endorsements MISCELLANEOUS TYPE VEHICLE ENDORSEMENT No coverage for vehicles that are borrowed or rented

Question 71

Selected Endorsements JOINT OWNERSHIP ENDORSEMENT Used when individuals own a vehicle together (insurable interest), but do not meet the traditional definition of an insured

Answer 71

Selected Endorsements JOINT OWNERSHIP ENDORSEMENT Used when individuals own a vehicle together (insurable interest), but do not meet the traditional definition of an insured

Question 72

Selected Endorsements JOINT OWNERSHIP ENDORSEMENT Applies to individuals who reside in the same household (other than spouses) and nonresident relatives

Answer 72

Selected Endorsements JOINT OWNERSHIP ENDORSEMENT Applies to individuals who reside in the same household (other than spouses) and nonresident relatives

Question 73

Selected Endorsements JOINT OWNERSHIP ENDORSEMENT Vehicle owned must be listed in the endorsement and coverage will not extend to give you a cord by any party not listed or included in the covered auto definition

Answer 73

Selected Endorsements JOINT OWNERSHIP ENDORSEMENT Vehicle owned must be listed in the endorsement and coverage will not extend to give you a cord by any party not listed or included in the covered auto definition