What 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?

Q: Is self-insurance the same as going without insurance? Why or why not?

A: The advantages of being self-insured area unit value savings and management of the insurance…

Q: n the context of home insurance coverage, it is correct to say that: * If damage from a fire or…

A: Home insurance can be defined as that insurance which enables an insurer to get the loss covered in…

Q: At what point would it be necessary to purchase a Personal Liability Umbrella policy?

A: Umbrella policies are relatively inexpensive so they are worth the inevstment.

Q: s it still beneficial for a person to have an insurance policy? Explain your answer in detail.

A: Insurance Policy - It is a written document between the insurer and policy holder. In which insurer…

Q: Which one of the following statements is correct with respect to the Building and Personal Property…

A: A commercial insurance policy that protects against against unintentional damage to owned buildings,…

Q: ne purpose of casualty policy’s condition section is to list the property that is to be covered…

A: Casualty policies are taken to prevent the the company from liabilities arising out of damage or…

Q: Fire loss sustained on business asset which was insured is deductible

A: a. In the period of loss

Q: Section II ( personal liability) Coverage under a homeowner's policy provides coverage for…

A: Section II ( personal liability) Coverage under a homeowner's policy provides coverage for following…

Q: Describe how an unrelated tenant in common or joint tenant should protect him- or herself from…

A: Please find the answer to the above question below:

Q: In what circumstance would a property insurance claim be rejected?

A: An insurance claim is a written request for coverage or compensation from an insurance company for a…

Q: 4. An insured may not be compensated by the insurance company in an amount exceeding the insured's…

A: The following are some of the principles of insurance, they are Principle of contribution Principle…

Q: Losses due to destruction of personal property are covered by (choose the best answer) Personal…

A: Personal insurance : It is the insurance against risk or person's life , health etc. Life insurance…

Q: The amount of the casualty loss deduction for personal use property depends on whether the property…

A:

Q: ame a personal liability that someone might have and identify whether it's a current or long-term…

A: A person or organization's personal responsibility is the amount of money owed to them. Taxes,…

Q: Pure economic loss may be awarded as the result of: damage to the plaintiff's property. negligent…

A: answer the presiding rule is therefore that pure economic loss is not recoverable - that is,…

Q: What are the risks to the lender if a borrower declares bankruptcy?

A: Bankruptcy refers to a condition in which a borrower (business or an individual) is unable to pay…

Q: Which of the followings is NOT correct about life insurance? a. To meet an insured person's debts…

A: The question is multiple choice question. Required  Which of tje following is not correct about life…

Q: What type of property insurance would cover injury to a repairperson on your property?  A.…

A: Given, A. Meaning of additional living expenses coverage,  It is a important part of the maximum…

Q: 21. What is the form that filled out by insured if a loss is suffered? *

A: Takaful is a sort of Islamic insurance in which members combine their funds to protect one another…

Q: Briefly explain the factors that are considered in determining the premium for automobile liability…

A: Premium on insurance is an amount paid to the insurance company for purchasing the insurance policy.

Q: Whole-life insurance policies typically can be surrendered while the insured is still alive in…

A: Cash surrender value: Companies purchase whole-life insurance policies on the lives of the key…

Q: a. Identify and explain the basic perils insured under a Standard Fire Policy. Name any three extra…

A: a. Standard fire insurance policy is the policy that is taken by the insured to cover the losses…

Q: Which of the following is NOT a contingent liability? a. Pending law suit for property damage b.…

A: Introduction: Contingent liability: A liability may or may not occur on future uncertain event. As…

Q: Finance All of the following are examples of liability coverages, except: A Debris removal B Medical…

A: Liability insurance protects businesses and individuals from legal action or lawsuits for…

Q: What is the maximum price you'd be willing to pay for Full insurance (that would completely restore…

A: Insurance is an agreement that allows the transfer of the risk or loss to the insured for the…

Q: Which of the following statements is correct about perils in property insurance policies?

A: Insurance is a contract by which the insured party is protected against losses by the Insurer in…

Q: A land development company that wants to protect itself against bodily injury liability claims…

A: An insurance is referred to as the contract, which used to represent through the policy, where an…

Q: The main purpose of buying insurance is to have financial protection in case of a loss. O eliminate…

A: The answer for main purpose of buying insurance is to have financial protection in case of loss.…

Q: The standard homeowners policy contains both property and liability coverages.    True or False

A: The standard homeowners policy can be defined as the contract between insurer and the insured where,…

Q: What are the two major treatments of a superficial loss on a sale and repurchase of identical…

A: The capital gain and loss are realized when the non-registered security is sold in the market at a…

Q: What are the remedies that a mortgagor and mortgagee may avail if either of them fail to do their…

A: Mortgage loan (Background)   :             In a mortgage loan, the mortgagor obtains the loan to…

Q: Briefly explain the factors that are considered in determining the premium for automobile liability…

A: SOLUTION- INSURANCE PREMIUM IS THE AMOUNT PAID BY THE PERSON WHO TAKE THE INSURANCE POLICY TO THE…

Q: If a person dies without leaving a valid will, how is the distribution of property regulated?

A: Definition:   Intestate: When a decedent dies without any valid will then this situation is called…

Q: What Latin legal maxim translates to “owner bears the risk of loss”?

A: Until the goods are perfected and delivered, the seller is the owner of the goods. Whereas, after…

Q: is taxable?  A. Proceeds of life insurance received by heirs B. Excess amount received over…

A: Taxable income: Taxable income is the income which are subject to payment of taxes. Therefore, any…

Q: What actions can a person take to reduce the cost of automobile insurance?

A: Automobile insurance is the instrument that is used to cover the losses or harm to vehicles that…

Q: When the taxpayer uses amounts received from the insurance company to restore damaged property to…

A: For ascertaining the tax consequences for the individual or any corporation, the taxable…

Q: Homeowners insurance covers all of the following, EXCEPT: a) Flood b) Fire c) Damage caused by…

A: Homeowners insurance is a kind of property insurance that conceals losses and damages to a person's…

Q: Which is not a factor that will usually affect your auto insurance premium?

A: The amount of money paid for the insurance policy taken is called the insurance premium. It is the…

Motor Vehicle Insurance

Motor vehicle insurance is a contract between the insurance company that provides insurance cover and the person who owns the vehicle. According to the terms and conditions of the insurance contract, the insurance company reimburses the policyholder for losses and damages. This insurance policy covers the financial risks of the motor vehicle owner. Electronic vehicles are also covered in a vehicle insurance policy, but the insurance rate is relatively higher than other motor vehicle insurance. Motor vehicle insurance is otherwise called an automotive insurance policy.