Personal Auto Policy (PAP) Flashcards
Coverage for a REPLACEMENT
Same as auto in dec.
Notification requirement for new auto
30 Days
Coverage for ADDITIONAL
Broadest coverage
Vehicles eligible for PAP (3)
- 4-wheel, private passenger auto
- Pick-up or van LESS THAN 100,000lb
- Owned or leased auto if leased under a written agreement and lease is for continuous 6 mo. period
Supp. Payments for: Bail Bonds
$250
Supp. Payments for: Loss Wages
$200
Supp. Payments for: Emergency First Aid
$200
NC Liability Limits
30/60/25
NC premium rating factors (3)
- Pleasure/ Business Use
- Work 10 miles or less/ 10 miles +
- Agricultural use
Med Pay Incurred within___ years
3
Hit and run UM/UIM covers
BI ONLY
UM/UIM deductible amount
$100
Coll & Comp deductibles DO NOT apply to (3)
- Fire or lighting
- Smoke due to sudden, unusual and faulty operation of any fixed heating equipment servicing the premises auto is stored
- Stranding, sinking burning, collision or derailment of any conveyance which the auto is being transported
Transportation Expenses (Theft)
$15 a day, up to $450 (after 48 hr)
How much will PAP pay for a NON-OWNED TRAILER
$1500
How much will PAP pay for PERSONAL EFFECTS
$100 (fire and lightning only)
How much will PAP pay for NOT FACTORY INSTALLED SOUND EQU
$1000
Insured is required to do: (3)
- Protect auto and its equipment from further loss
- Notify PD promptly if auto is stolen
- Permit the insurer to inspect and appraise the damaged property before repair or disposal
Bailee
Person or business entrusted with care of personal property belonging to others
How long can PAP cover a Loss Payee
10 Days
How long after a person notifies their insurer can a suit be brought if their belief is that the prospective defendant is a UM?
60 Days
How many days before cancelation should the insurer notify the insured?
15 days prior to cancellation for non-payment. 60 days for all other reasons
Pro-rata
Insurance company returns unearned premium
Short Rate
Insured cancelled policy before expected expiration. Insurer pays back unearned premium-admin fee
Non-Renewel notice
60 days before end of policy
Extended Transportation Expenses
Auto out of service 24 hr. but not for theft
