Types of Casualty Policies

Question 1

What PERSONAL AUTO coverage would pay for damages to a covered auto caused by a collision with a DEER?

Answer 1

Other Than Collision (Comprehensive)

Question 2

WHAT PERSONAL AUTO COVERAGE would pay for the insured’s TRAVEL EXPENSES AND LOSS OF EARNINGS while the insured is involved in the SETTLEMENT PROCESS of a covered loss?

Answer 2

Part A: Liability

Question 3

What is a COVERED AUTO?

Answer 3

A VEHICLE SHOWN in the POLICY DECLARATIONS

Question 4

WHO is considered INSURED under

Part A: Liability of a personal auto policy?

Answer 4

The vehicle OWNER or his/her FAMILY MEMBER, or ANY PERSON using the covered auto with PERMISSION

Question 5

Coverage for MEDICAL PAYMENTS under a Personal Auto Policy applies to expenses following a covered accident that are incurred and services rendered WITHIN WHAT TIME PERIOD?

Answer 5

3 years

Question 6

What losses are EXCLUDED from coverage in the LIABILITY section of the PERSONAL AUTO POLICY?

Answer 6

INTENTIONAL injury or damage

DAMAGE TO PROPERTY owned or transported by the insured

use of a vehicle as a PUBLIC CONVEYANCE

or use of a vehicle WITHOUT PERMISSION

(Please review the text for a complete list of exclusions.)

Question 7

What TYPES OF LOSSES are indicated by the SPLIT LIMITS in an auto insurance policy?

Answer 7

BODILY injury per PERSON

BODILY injury per ACCIDENT

PROPERTY damage per ACCIDENT

Question 8

What is a COMBINED LIMIT in an auto insurance policy?

Answer 8

The MAXIMUM AMOUNT the insurer will pay on a covered loss

Question 9

WHEN does UNINSURED MOTORIST coverage apply?

Answer 9

WHEN the OTHER PARTY is LEGALLY LIABLE but has NO INSURANCE

Question 10

If an insured is injured while driving HIS OWN CAR, WHAT COVERAGE in his personal auto policy will pay for the loss?

Answer 10

Part B: Medical Payments

Question 11

When does the UNDERINSURED MOTORIST coverage apply?

Answer 11

When the motorist is at fault in an accident, but the limits of his/her auto insurance are NOT SUFFICIENT to cover the BODILY INJURY to ANOTHER MOTORIST

Question 12

If an auto policy has liability limits of 40/60/20, what would be the EQUIVALENT COMBINED SINGLE LIMIT?

Answer 12

$80,000 – combined total of coverage for BODILY INJURY and PROPERTY DAMAGE

Question 13

What are the 4 categories of UNINSURED MOTOR VEHICLES?

Answer 13

1) NO INSURANCE or LIABILITY BOND;
2) Insurance is LESS THAN what’s REQUIRED by the FINANCIAL RESPONSIBILITY LAWS;
3) A HIT-AND-RUN accident where the DRIVER CANNOT BE IDENTIFIED; and
4) The insurer DENIES COVERAGE or BECOMES INSOLVENT.

Question 14

RENTAL REIMBURSEMENT ENDORSEMENT is available only if an auto policy has WHAT TYPE OF COVERAGE?

Answer 14

Other than Collision Coverage

Question 15

In Personal Auto Policy, to what GEOGRAPHICAL REGION does the OUT-OF-STATE COVERAGE APPLY?

Answer 15

Any U.S. state or territory, as well as Canada

Question 16

If an auto policy has split limits of 30/50/25, how much will the policy pay for PROPERTY DAMAGE in a SINGLE ACCIDENT?

Answer 16

$25,000

Question 17

Underinsured Motorist (UIM) coverage will pay the DIFFERENCE between which 2 limits?

Answer 17

The insured’s UIM LIMITS and the at-fault driver’s INSURANCE BODILY INJURY LIMITS

Question 18

What TYPE OF AUTO COVERAGE will apply in a HIT-AND-RUN ACCIDENT where the DRIVER CANNOT BE IDENTIFIED?

Answer 18

Uninsured Motorist

Question 19

What does the term “you” refer to in a personal auto policy?

Answer 19

The NAMED INSURED shown in the DECLARATIONS, and the INSURED’S SPOUSE (if resident of the same household)

Question 20

What is the LIMIT OF LIABILITY in Part D: Coverage for Damage to Your Auto?

Answer 20

The LESSER OF THE ACTUAL CASH VALUE of the vehicle or the AMOUNT NEEDED TO REPAIR OR REPLACE THE VEHICLE

Question 21

If an auto policy has split limits of 30/50/25, what is the maximum amount the policy will pay for INJURIES TO ONE PERSON in a SINGLE ACCIDENT?

Answer 21

$30,000

Question 22

What would be considered a newly acquired auto?

Answer 22

A vehicle acquired by the insured DURING THE POLICY PERIOD