Terms
A professional assessment to determine extent of damage
Appraisal
Part A
Liability
Bodily harm, sickness or disease
Bodily Injury
Vehicle that is titled to the insured
Owned
How can you change the terms and conditions of an insurance policy?
With an endorsement
Someone who is entrusted with the possession of another person's property but has no ownership of it
Bailee
Part B
Medical Payments
Physical injury, destruction or loss of use of tangible property
Property Damage
Vehicle that is leased, rented or borrowed from someone other than and employee or partner
Hired
This is the insurer's right to recover payment
Subrogation
Proof that one can pay for damages caused, often fulfilled by purchasing insurance
Financial responsibility
Part C
Uninsured Motorist
The upset of impact of a covered vehicle with another vehicle or object
Collision
Vehicle that is operated by the insured, but are not titled by of furnished for the regular use of the insured
Nonowned
In most states, how many days is the insurer required to provide if the policy is cancelled within the first 60 days of initial coverage?
10 days
Transporting of people or things for hire
Livery
Part D
Damage to your Auto
This was previously called comprehensive
Other than collision
Vehicle that is not owned or rented by an insured, but used while their vehicle is being repaired
Temporary Substitute
If the insurer decides to nonrenew coverage, how many days notice must they give?
20 days before the renewal date
When something cannot occur simultaneously with something else
Mutually exclusive
Part E
A newly acquired auto can include a pickup or van if they are under how many pounds?
10,000
Auto leased or borrowed from employees
Nonowned
What territory is included in an auto policy?
The US, its territories and possessions, Puerto Rico, or Canada