Personal Auto Flashcards
In PAP what is Coverage A? and what does it cover?
Liability insurance-covers damages for bodily injury or property damage that an insured becomes legally responsible for because of an auto accident
Limits of Liability
$25,000 per person for bodily injury
$50,000 per accident for bodily injury
$25,000 per accident for property damage
In PAP what is Part B coverage? what does it do?
Medical payments - provides protection for the named insured family members and passengers in the name insures auto for injuries received in an accident regardless of who was at fault.
In PAP what is Part D coverage? What does it do?
Coverage for damage to your auto also known as physical damages? It does not cover damage to insured person property such as house or rental , but covers for direct and accidental loss to the named insureds covered auto or any nonowned auto against loss caused by collision or other than collision also called comprehensive
Part E Duties after an accident or loss
Duties after an accident or loss
In PAP? what is part C coverage? and what does it provide?
Uninsured Motorists coverage - only provides compensatory damages are covered punitive damages are specifically excluded.
Who is the name insured in PAP?
The name insured on the policy and the spouse as long as they live in the same house.
How long is a spouse considered a name insured after a seperation?
For ninety days
According to a PAP what does family member mean?
Any person related to the named insured who is a resident of the insureds household.
In a PAP what is the difference between Bodily Injury and Property damage?
Bodily means bodily harm sickenss disease, and or death
Property means physical injur to destruction of or loss of tangible property
In the PAP is a trailer covered?
YES
What is covered in the declarations page of a PAP?
any wheeled motor vehicle, van or truck under a certain weight. (Farming is not considered a business)
In the insured buys a new auto to add to his policy how long does he have to notify the insurer until it does not have coverage?
14 days unless the auto is replacing a car then the insured does not have to worry about it.
In a PAP policy what are the three conditions that must be met in order for a loss to be covered under part A?
1) the policy only protects those who are insured 2) coverage only applies to damages for which the insured is legally responsible.
3) the damages must involve bodily injury or property damage and result from an auto accident
Under a PAP who is insured?
the name insured and family , anyone insureds car with permission , other people or organ that share liab w/ an insured ,
How much is awarded in the PAP policy for when the insured misses work to appear at court?
$200 a day
`In a PAP policy if the insureds personal property is damaged in the car is the property covered?
Nope
In a PAP policy what does the out of state provision provide?
It meets other states financial responsibilities and requirements by state laws.
In summary what are some of the things excluded by under medical payments.
using the vehcile for any type of business, using the vehicle as a taxi , anything that might be covered under workers comp. (this is just to name a few0
what are the typical limits for medical payments?
1k 2k 5k 10k
In the insured his hit by one of his own cars that does not have insurance does he get coverage C?
No.
Transportation expense is paid $20 dollars a day and up to $600. This is an additional expense under what coverage?
Coverage D
In a PAP policy what does the no benefit to bailee mean?
It means that the bailee cannot benefit from the insurance policy if a loss occurs to the car while it is in the bailees possession.
In a PAP what is the E and F conditions?
These are conditions that apply to the policy as a whole.
In the PAP policy what is condition E?
it is the duties required after the accident.
In the PAP policy under UM coverage what is the E condition?
to notify the insured promptly if there is a hit and run driver
In the PAP policy under PD what must the insured do under the E condition?
The insured must take reasonable steps after a loss to protect a covered auto and its equipment from any further damage
What is something the insurance company is permitted to do under the E condition?
the insurance company is allowed to inspect or appraise the property before its repair or disposal following a loss
In a PAP what does Part F mean?
Part F is general provisions that establish conditions for the coverage and describes the duties and obligations of the insured and insurer
What section gives the insurer subrogation rights?
Condition F
Except for non payment of premium how many days must the insurer give the insured for cancelation?
20 days. 10 days if its for non payment of premium
After a PAP policy has been in affect for more than sixty days what reasons can the insurer cancel for?
nonpayment of premium
material misrepresentation of obtaining the policy
a regular operator of the vehicle has had his drivers licences suspended
If someone is under insured what does your insurance company cover?
The difference that the under insured can not cover
What is a no fault law?
The insured driver is reimbursed by his ow insurance company for medical expenses and loss of wages regardless of who was at fault in the auto accident.(Subrogation under this is not permitted)
What is a named non owner coverage?
An endorsement that may be issued to someone who does not own an automobile but drives borrowed or rented autos.
What is an assigned risk plan?
A voluntary agreement between insurance companies licensed in a particular state. These companies agree to share the poor risks among themselve. each company accepts its share of assigned risk drivers according to size of the individual insurance company.
It gives poeple who might not of been able to obtain insurance because bad driving records insurance.
What is the purpose of the MCS- 90 endorsment of motor carrier policies of insurance for public liability?
If provides proof that the company carries an amount of insurance required by the law
Under the insuring agreement of a personal auto policy the insurer pays for medical expenses and funeral sercise incurred within how many years from the date of an accident?
3 years
What type of endorsement would be used to insure a recreational vehicle under the personal auto policy?
Miscellaneous type vehicle endorsement
Does comprehensive coverage pay for the over turning of an auto?
No it does not it only covers loss to a covered auto or its equipment for any cause except collusion overturn or upset.
how soon must the insured file proof of loss for damage to property form an uninsured motorist?
60 days
In New Mexico UM coeverage for property damage may inlcude an exclusion of no mor than the first…
$250 of loss
