General
***DOUBLE POINTS***
Business Auto is broken into what 2 main coverages?
1. Liability
2. Physical damage
Private passenger vehicles consist mainly of ____, ____, & ____?
Cars, Vans, and SUVs
Driver Based Rating consists of what 4 main characteristics of a driver?
What 3 Additional Interests exist on a BA policy?
1. Additional Insured
2. Loss Payee
3. Designated Insured
What coverage Symbols are available?
A. 1-10 & 20
B. 5-10 & 20
C. 1-10 & 19
D. 5-10 & 19
C. 1-10 & 19
KN21409
Physical Damage is broken into what 2 main categories?
1. Collision
2. Comprehensive (Other Than Collision)
What are the 4 vehicle types we have?
1. Private Passenger
2. Trucks/Trailers
3. Special Vehicle
4. Public Transportation
***DOUBLE POINTS***
What is an MVR?
A Motor Vehicle Report shows a driver's history, like accidents or tickets, and it also provides information about their license status.
A Loss Payee has interest in what Physical piece of property?
A Vehicle
***DOUBLE POINTS***
What is the most common Symbol Number used?
Symbol 7:
Specifically Described "Autos".
True or False:
Uninsured Motorist (UM) provides coverage for injury of an insured injured by an at-fault underinsured motorist.
False:
It pays the amount of coverage the uninsured motorist's liability insurance would pay if that driver had been insured. Uninsured motorists from whom insureds are protected include, in addition to those without insurance, hit-and-run drivers and operators of automobiles insured by insurance companies that become insolvent.
***DOUBLE POINTS***
A VIN Number consists of ___ digits but never contain ___or ___?
17
"O" or "I"
True or False:
The system will allow changes to an existing drivers information if the Driver listed has a typo in the name fields.
False:
The system will not allow changes to an existing driver. If a driver name needs updated (new last name, wrong middle initial, etc.), these should be done by deleting and adding
***DOUBLE POINTS***
What GL form is equivalent to the Designated Insured form for BA?
CG2010
Designated Insured (DI) is for businesses the insured is working with who want to be listed on the policy (similar to CG2010 but for auto).
What is the most Uncommon Symbol used?
A. 7
B. 2
C. 3
D. 1
D. 1 - "Any "Auto".
This is used to denote that any auto (whether it is owned, hired, borrowed, or used) is a covered auto for purposes of this policy. This symbol affords the broadest liability coverage available under the business auto policy.
Medical Payments will pay medical bills for accidents that arise from a member's business activities, regardless __ _____?
Of fault.
This endorsement is used to provide coverage for reasonable expenses incurred by an insured for necessary medical and funeral services. These expenses must be connected with bodily injury caused by an accident, as defined in the coverage form.
What is a Garaging Address?
The garaging location is the physical address where the insured's business vehicles are parked most of the time. (Where does the car sleep at night?)
True or False:
It is not OK to provide information about an MVR to an Insured, but if the Agent asks it is OK to discuss.
False:
Do not communicate specific MVR violation information such as speeding tickets or alcohol violations with anyone other than Underwriting. Agents, brokers and insureds are included among those who we should NOT give MVR specifics to.
True or False:
A Lessor is both an Additional Insured and Loss Payee
True:
Lessor - Additional Insured and Loss Payee (This third party be added at the vehicle level or policy level
A Symbol" is represented by:
A. A Number
B. A Letter
C. A Sequence of numbers
D. A Sequence of letters
A. Number
Numeric symbols that indicate the type of vehicle a coverage applies to.
Liability coverage pays all sums an insured must legally pay because of bodily injury or property damaged suffered by who?
A Third Party
(Them and Theirs)
Quotes with ___ or more vehicles may have issues quoting successfully.
800.
Policies with less than 800 vehicles may also experience issues quoting successfully due to number of coverages per vehicle. In these scenarios, multiple auto lines can be added, breaking them down to an equal number or vehicles per line.
True or False:
License numbers and date of birth should be documented in notes.
False
License numbers and date of birth should not be documented in notes due to Privacy Guidelines.
A Designated Insured has an interest in what specifically?
A Designated Insured is a 3rd party with a liability interest in the insured’s operations, in regards to a listed auto or all autos in the insured’s business auto policy.
Hired Auto & Non-Owned Auto coverage have which 2 symbols applies?
8 & 9
KN21409