Auto insurance - Study guides, Class notes & Summaries

AINS 101 Questions With 100% Accurate Review Solution Answers Which of the following is an example of a legal requirement for individuals that could be met through insurance? a. contributing to the growth of the organization b. paying for losses c. obtaining personal auto insurance d. providing a source of investment funds - ANS-c. obtaining personal auto insurance A fire destroys the kitchen in Rob and Laurie's home. Which insurance policy would provide coverage for the damage? a...

Terrorism Risk Insurance Act (TRIA) Answer - In 2002- the availability of reinsurance coverage against terrorism. If there is a terrorist act then the federal government is responsible in paying the insurer for any damage. What is TRIEA and when did it happen Answer - In 2005 legislation was modified and coverage was extended by the Terrorism Risk Insurance Extension Act FCRA- when, what, and what it stands for Answer - In 1970 the Fair Credit Reporting Act was establish by the federal gov...

Your client calls to advise he/she needs insurance on a car leased from an automobile dealer. Which one (1) of the following policies is required? A. O.A.P. 1 Owner Form, suitably endorsed. B. O.P.F. #2 Driver's Form. C. O.P.F. #6 Non-owned Automobile Form, suitable endorsed. D. Garage Auto Form, suitably endorsed. - Answer-A. O.A.P. 1 Owner Form, suitably endorsed. Insurance under O.A.P. 1 Owner's Form, Section 7, Loss or Damage Coverages, is usually subject to a deductible. It does no...

Personal Lines Insurance Practice Exam Questions and Answers Latest | 100% Correct. Bobby, age 16, borrows his parents' car without their permission and gets into an accident. Which of the following statements about coverage under the parents' personal auto policy is CORRECT? A) Bobby is covered by his parents' policy because he is included in the definition of named insured. B) Bobby is not covered for this accident because he used the car without permission. C) Bobby is not covered ...

NY State Vehicle Financial Responsiblity Law - 1. All vehicles except for emergency vehicles must carry liability insurance. Insurance satisfies the states requirement that auto owners have enough funds to pay for losses that they are legally liable for. 2. Proof of coverage must be carried. *Must include name and address of provider 3. Both the owner and the driver are legally liable for accidents. 4. The vehicle owners insurance is PRIMARY and will indemnify both the owner of the vehicle...

In which of the following sections of a commercial auto policy will you find specific information about the policy period correct answers conditions under the personal auto policy, liability for bodily injury resulting from the insured's use of nonowned automobile is correct answers provided by the insured's policy on an excess basis the medical payments coverage in a personal auto policy will pay reasonable medical expenses for all of the following EXCEPT correct answers the insured is ...

Who is eligible for a personal auto policy? correct answers Individuals, related persons, or unrelated persons who live together. NOT corporation, partnership, or other types of business interest What are eligible vehicles for a personal auto policy? correct answers Private passenger autos, pickups or vans that have a gross vehicle weight of less than 10,000 lbs. that are owned or leased for 6 months or more. Note: TX amended their PAP by statute to include vehicles up to 25,000 lbs. What ...

USAA Auto Insurance Terms with Complete SolutionsUSAA Auto Insurance Terms with Complete SolutionsUSAA Auto Insurance Terms with Complete SolutionsUSAA Auto Insurance Terms with Complete SolutionsUSAA Auto Insurance Terms with Complete SolutionsTerrorism Risk Insurance Act (TRIA) - ANSWER-In 2002- the availability of reinsurance coverage against terrorism. If there is a terrorist act then the federal government is responsible in paying the insurer for any damage. What is TRIEA and when did it...

NEW HAMPSHIRE ADJUSTER EXAM PREP: SERIES 12-75 QUESTIONS WITH CORRECT UPDATED ANSWERS GRADED A++ Which of the following best defines "insured"? A. Transfer of the risk of financial loss from one party to another B. A legally binding contract in which the insurance company agrees to pay for specified losses in exchange for premiums C. An individual or organization that pays premiums in exchange for financial protection D. A company, group, or government agency offering financial prot...

Dram Shop Liability refers to: ANSWER: Liquor Law Liability. The insured has suffered a covered loss under his DP-3 dwelling form. He fails to protect the property from further loss. The additional loss that occurs as a result of his inactions may be denied because of what clause in the policy? ANSWER: Neglect. To be eligible for the New York assigned risk auto plan a person must: ANSWER: Hold a valid driver's license. Any insurance adjuster whose license has been revoked for cause...