General Policy Structure
what would be considered a newly acquired auto?
What is: A vehicle acquired by the insured during the policy period.
Retains limits the insured must pay before umbrella policy with respond to certain losses
What is: Self insured retention
Expenses that will be paid if the loss is caused by collisoin or other-than-collision, as long as the corresponding coverage is indicated in the declarations.
What is: Transportation Expenses
Medical expenses and services must be rendered within (blank) years of the accident.
What is: 3
what types of losses are indicated by the split limits in an auto insurance policy?
What is: bodily injury per person, bodily injury per accident, and property damage per accident
Sometimes called catastrophe insurance
What is : umbrella or excess policy
If the insured and the insuer cannot agree on a settlement, they can demand what?
What is: Appraisal
What is: No
f 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
What is: 30,000
A policy that is covered by the umbrella or excess policy
What is: The Underlying Policy
States that the insurer will pay for direct and accidental loss to a covered or nonowned auto, minus the applicable deductible shown on the declarations.
What is: Insuring Agreement
Will medical coverage be provided if the driver is injured while driving a covered automobile without permission.
What is: No
Who is Considered insured under part A: liability of a personal auto policy
What is: the vehicle owner or his/her family member, or any person using the covered auto with permission
Must maintain underlying insurance
What is: The insured
Transportation expenses will pay how much per day with a maximum of $600 for transportation expenses incurred by the insured due to a covered loss?
The amount of coverage depends on the policy and applies on a per-person basis for bodily injury sustained in an accident covered by the policy, regardless of fault. True or False
What is: True
rental reimbursement endorsement is available only if an auto policy has what type of coverage
What is: other than collision coverage
The insurer may do this without the consent of the insured
What is: settle any claim
The PAP defines ____ as any private passenger auto, pickup, van, or trailer which is operated by or in the custofy of, but is not owned or furnished for the regular use of the named insured or a family member.
What is: Nonowned Autos
A passenger is injured while entering your vehicle. Who’s insurance covers the medical bills.
What is: The Driver