Personal Auto Policy
Part A of the Personal Auto Policy
What is liability coverage?
The place where the auto is principally used or garaged
What is Territory?
An organization of auto insurers operating in the state in which high risk business is placed in a common pool, and each company pays its pro rata share of pool losses and expenses
What is the Joint Underwriting Association?
A law that requires motorists to carry at least a minimum amount of liability insurance before the vehicle can be licensed or registered
What is Compulsory Insurance Law?
Part B of the Personal Auto Policy
What is Medical Payments coverage?
This discount is applied when an insured owns two or more vehicles
What is Multicar Discount?
Insurers that specialize in insuring motorists with poor driving records
What is Specialty Insurers?
A state fund for compensating auto accident victims who have exhausted all other means of recovery
What is an Unsatisfied Judgement Fund?
Part C of the Personal Auto Policy
What is Uninsured Motorist coverage?
A rating factor that is used to classify vehicles on the basis of how the car is driven
What is Use of the Auto?
A plan that makes auto insurance available to drivers who are unable to obtain insurance in the voluntary market
What is an Automobile Insurance Plan or Assigned Risk Plan?
A policy that requires an insured to collect from his/her own insurer after an auto accident involving bodily injury, regardless of who was at fault
What is No-Fault Auto Insurance?
Part D of the Personal Auto Policy
What is Coverage for Damage to Your Auto?
A credit based score
What is an Insurance Score?
A state entity that makes auto insurance available to Maryland motorists who are unable to obtain insurance in the voluntary market
What is Maryland Automobile Insurance?
A law that does not require proof of financial responsibility until after the driver has his/her first accident or until after conviction for certain offences such as driving under the influence
What is Financial Responsibility Law?
Part E of the Personal Auto Policy
What is Duties after an Accident or Loss?
A discount for good grades
What is a Good Student Discount?
An arrangement where the insurance company must accept all applicants for insurance, both good and bad drivers
What is a Reinsurance Facility?
A law which restricts uninsured motorists from suing negligent drivers for noneconomic damages, such as compensation for pain and suffering
What are No Pay, No Play Laws?