Exam (elaborations)
NJ Book (Casualty Insurance ONLY section) Questions and Answers 2024
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NJ Book (Casualty Insurance ONLY section)
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NJ Book (Casualty Insurance ONLYsection)
minimum auto liability limits - answer15/30/5, $15,000 for BI or death or one person,
$30,000 for BI or death or 2+ people, $5,000 for PD to property of others
uninsured and underinsured policy limits - answer-$500,000 single limit
-$250,000 for bodily injury of one person
-$500,000 for bodily injury per accident
-$100,000 for property damage to property of others
-250/500/100
stacking prohibited - answer uninsured motorist (UM) and underinsured (UIM) coverage
cannot be increased by stacking the limits of coverage of multiple motor vehicles
covered under the same policy of insurance, nor increased by stacking limits of
coverage of multiple policies available to the insured
personal injury protection - answerPIP, all NJ auto liability policies must provide PIP
coverage
payable without regard to fault not to exceed $250,000 per person
-benefits protect the named insured and resident family members who sustain bodily
injury as a result of an accident while occupying, entering, or alighting from the vehicle
or by being struck by objects propelled by a vehicle, or if struck as a pedestrian
PIP coverage includes - answer-medical expense benefits
-income continuation benefits
-essential services benefits
-death benefits
-funeral expense benefits
primacy of PIP coverages - answerthe PIP coverage of the named insured will be the
primary coverage for the named insured and any resident relative of the named
insured's household who is not a named insured under an auto policy of her own
PIP deductibles and options - answer-medical expense benefit deductibles: $500,
$1,000, $2,000 or $2,500 for any one accident
-a setoff option, providing that other health insurance benefits of the insured are to be
considered primary
-the option to exclude income continuation, essential services, death, and funeral
expense benefits
-medical expense benefits payable in amounts of $150,000, $75,000, $50,000 or
$15,000 per person per accident
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