Vocab
Uninsured motorist
Coverage protects a client involved in an auto accident with an at-fault party who doesn’t have liability insurance, or with an unidentified or hit-and-run vehicle.
"______ that are operated on rails or crawler treads, such as a snowmobile, train, and mobile equipment are also specifically identified as not meeting the definition of an “uninsured motor vehicle."
Vehicles
What are the two types of compensatory damages?
Special damages and General Damages
General damages
Provide compensation to the injured party for intangible costs such as pain and suffering.
"The third situation is a _ _ _-_ _ _- _ _ _ vehicle whose owner can’t be identified, but only when it hits: you or any “family member,” a vehicle occupied by you or any “family member,” or “your covered auto.”
Hit-and-run
Is UM and UIM required?
no its optional in most states.
Special damages
are measurable costs such as hospital bills
"For Uninsured Motorist coverage to apply to a claim, the _ _-_ _ _ _ _ vehicle or trailer must meet the definition of an “uninsured motor vehicle.”"
at-fault
Vehicles that are operated on rails or crawler treads, such as a snowmobile, train, and mobile equipment are also specifically identified as?
meeting or not meeting uninsured motor vehicle.
not meeting the definition of an “uninsured motor vehicle.
who’s an “insured” and what’s an “uninsured motor vehicle” for this coverage part? Three groups of individuals are defined as “insureds,” although coverage may later be removed by an exclusion:
First, second, and third.
"For the ____ ______, the you and “family members”—that is, the named insured, their resident spouse, and residents related to them by blood, marriage, adoption, or who are foster children—always receive the broadest, or best, coverage."
First Category
In the first group "you" refers to?
resident spouse, and residents related to them by blood, marriage, adoption, or who are foster children—always receive the broadest, or best, coverage.
what are the first, second, and third groups?
The first group is "you" and any “family member."
The second group is any other person “occupying” or using “your covered auto,”
the third group is any person entitled to damages because of “bodily injury” to “insureds” previously described in the first two groups.
"Special damages which are _ _ _ _ _ _ _ _ _ _ _ _costs such as hospital bills, and general damages, which provide _ _ _ _ _ _ _ _ _ _ _ _to the injured party for intangible costs such as pain and suffering."
1. compensation
2. measurable
UM and UIM coverage differs among the states in several ways.
In some states, Underinsured Motorists Coverage is added to Part C – Uninsured Motorists Coverage by endorsement. In the second method, Part C is replaced with two separate endorsements—one for UM and one for UIM. The third method replaces Part C with one endorsement providing both UM and UIM coverage.