Name the coverage for auto insurance "Pays for damage or loss of your car if you are in accident." O Property damage liability Collision Coverage mprohencivo cOvorago
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- What type of property insurance would cover injury to a repairperson on your property? A. Additional living expenses coverage B. Damage to home or property insurance cover C. Personal liability coverageTo receive coverage for bodily injury resulting from an accident with a stolen vehicle, an individual should purchase which of the following coverage? Medical payment Uninsured Motorists Bodily injury liability Property damage liabilityName a peril that is often excluded from an home or auto insurance policy. Why is the peril included in an insurance policy
- Give typing answer with explanation and conclusion Property insurance protects you from financial losses resulting from the damage to or destruction of your property or possessions. True FalseWhat are the three major classes of loss associated with the ownership or operation of an automobile? What types of insurance coverage protect against each? What automobile coverages protect against each?The PRIMARY function of an umbrella liability insurance policy is to provide coverage for • A. personal property damage caused by inclement weather. B. legal claims that exceed the policyholder's primary liability insurance limits. C. multiple dwellings and vehicles under a single insurance policy. D. vehicles that are either rented or borrowed by the policyholder.
- Which one (1) of the following statements regarding the Uninsured Automobile Coverage in your insured's O.A.P. 1 Owner's Policy is correct?•It provides coverage for liability to others in case your insured forgets to renew his/her policy.•It only covers bodily injury but never accidental damage to the insured's own automobile.•It includes a certain amount of coverage for accidental damage to the insured's automobile caused by a hit and run automobile, where neither the owner nor driver of the other automobile is identified.•It includes a certain amount of coverage for accidental damage to the insured's automobile provided the owner or driver of the uninsured automobile is identified.Homeowners insurance provides coverage for: Damages that the insured becomes legally obligated to pay because of bodily injury or property damage. Perils not named in a named peril policy. The insured's personal, nonbusiness activities that occur anywhere. Damages resulting from intentional acts of an insured.An insured is purchasing a Building and Personal Property Coverage Form (BPP) to cover her business. She asks the agent to explain how her property will be valued in the event of a loss. Which one of the following statements made by her agent accurately describes how the covered property will be valued in the event of loss? The insurer is obligated to pay replacement cost regardless of whether or not the property has actually been repaired or replaced. The insurer is obligated to pay the cost to replace the damaged or destroyed property with new property of like kind and quality without any deduction for depreciation or obsolescence. Insurers underwrite the coverage carefully because some items that can be difficult to value, such as manuscripts, works of art, antiques, and rare articles, are covered for replacement cost. If the insured elects to accept an ACV claim settlement, the insured is barred from later requesting payment of replacement cost.
- You are responsible for an automobile accident. Use the information below to determine: the total amount your liability insurance will pay for the accident the total amount your collision insurance will pay for the accident the amount of additional damages you are responsible for as a result of the accident You and the driver of the other car were the only people involved in the accident. There were no injuries from the accident. You have a 50/100/50 liability insurance policy with no deductible You have collision insurance with a deductible of $500 The other car was valued at $25,000 and requires $10,000 in repairs Your car was valued at $20,000 and requires $15,000 in repairsBriefly explain the factors that are considered in determining the premium for automobile liability insurance. What additional factors are considered in the rating of comprehensive and collision coverage? What factors apply in the case of youthful drivers that are not considered in the case of other drivers?You are responsible for an automobile accident. Use the information below to determine: the total amount your liability insurance will pay for the accident the total amount your collision insurance will pay for the accident the amount of additional damages you are esponsible for as a result of the accident You and the driver of the other car were the only people involved in the accident. There were no injuries from the accident. You have a 50/100/50 liability insurance policy with no deductible You have collision insurance with a deductible of $500 The other car was valued at $25,000 and requires $10,000 in repairs Your car was valued at $20,000 and requires $15,000 in repairs