Easy
What must a business entity do if they are going to use a fictitious name like Geico?
Notify the State Corporation Commission
no fault type coverage
medical expense
must have 4 wheels
Owned or lease
no business use
Private Passenger Vehicle
extends coverage to any driver with expressed or implied consent of the Named Insured to use the insured auto.
Omnibus Clause
What is the minimum state liability limit when purchasing a Virginia Auto Policy?
25/50/20
Mandatory Coverage
Pays the 3rd party due to the injury to their body
Part A: Bodily Injury
Limit for Medical Expenses that must be offered in Virginia
$2000
A vehicle not owned by the insurer and not furnished for their regular use
Non-owned Auto
What is the waiting period for the transportation expense if the insured vehicle is stolen?
48 hours
The deductible on the Personal Auto Policy for Uninsured Motorist?
$200
You and yours
intentional damages
business/commercial use
bailee use
delivery of people or product for a fee
Part A : Property Damage
Liability for bodily injury resulting from the insured's use of a non-owned auto is
Provided by the insured's policy on excess basis
Provides liability protection when you rent or hire a vehicle
Hired Auto
The named insured has no right to abandon their property to the company
abandonment
Cancellation timeframe for non-payment of premium
15 days
1st Party/you/yours
Optional Coverage
Pays Regardless of fault for medical expenses
Medical Payments
What is the loss valuation for collision and other than collision ?
Actual Cash Value
owners of motor vehicles must have the financial resources to be responsible for the ownership, maintenance and use of the motor vehicle
Financial Responsibility
The owner's auto policy will pay towards a liability claim when your vehicle is borrowed with your permission and involved in an accident
Pimary/Excess
cancellation timeframe for other reasons than non-payment of premium after the 1st 60 days
Who is covered by Medical Expenses
Named Insured
Resident Relatives while occupying any vehicle
hit as a pedestrian
any guest passengers in the named insureds vehicle
only place/time we put limits on
bonds and loss of income
When does a loss of Income benefits start in Virginia ?
first day of lost work due to an accident
What coverage will payup to $20 a day and 600 maximum
Transportation expenses
Loss of Income Benefits Limit
$100 per week/52 Weeks