Chapter 7 Insurance Exam

Personal Auto Policy

A: Liability Coverage, B: Medical Payments, C: Uninsured Motorists (UM), D: Coverage for Damage to your auto, E: Duties after an accident/loss, F: General Provisions

Bodily Injury

refers to bodily harm, sickness, or disease, including any resulting death

Property Damage

any physical injury to, destruction of, or loss of use of tangible property

Your Covered Auto

any vehicle shown in the Declarations, any trailer owned by the named insured or resident spouse, a newly acquired auto, any non-owned auto or trailer being used as a temporary substitute for a covered auto

Underinsured Motorists Coverage (UIM)

coverage is for bodily injury resulting from an accident caused by someone who has auto liability insurance that meets the legal minimum requirement, but whose coverage limits are inadequate to respond to claims

Collision Coverage

a named perils coverage that protects against the upset of Your Covered Auto or a non-owned auto or its impact with another vehicle or object

Comprehensive Coverage

provides coverage on an open perils basis, with the exception of collision and other policy exclusions

Policy Territory

the USA, its territories and possessions, Puerto Rico, and Canada, including while being transported between their ports

Extended Non-owned Coverage

removes certain exclusions from Part A and B in order to provide liability coverage and medical payments coverage for non-owned vehicles that are furnished or available for regular use

Miscellaneous Type Vehicle Endorsement

changes the policy by adding a definition for miscellaneous type vehicle, which means a motor home, ATV, dune buggy, or golf cart