FPQP Terms: Module 4.3 -

4 Areas of Automobile Coverage:

1. Liability

2. Medical Payments

3. Physical Damage

4. Uninsured motorists

4 Factors considered when determining the cost of auto insurance

1. age & gender of the driver

2. use of the vehicle (number of miles driven each week: ex. commute, leisure)

3. type of vehicle

4. the driver’s record

5. credit score

Personal Auto Policy - Part A: Liability Coverage: What does it cover?

Bodily Injury

• Policyholder is at fault and injures another person: medical, pain, & suffering

Property Damage

• Covers damage to another person’s property if the policyholder is at fault

Personal Auto Policy - Part A: Liability Coverage: What does monetary amt does it cover and what type is it?

Split Liability Coverage: 250/500/100

• 250: $250,000 bodily injury per person

• 500: $500,000 bodily injury of all people involved (max paid)

• 100: $100,000 damage to others’ vehicles and property

Other 3 parts of personal auto policies

• Part B: Medical Payments

• Part C: Uninsured/Underinsured Motorist Coverage

• Part D: Coverage for Damage to your Automobile

• Part E: Duties After an Accident or Loss

• Part F: General Provisions

Collision vs Other than Collision

Collision covers repairs to your own car when:

• hitting another vehicle

• colliding with a fence or tree

• crashing into a guardrail

Other than collision (comprehensive) covers repairs to your own car when:

• damaged by fire

• struck by falling object

• vandalized