Principle Chapter 22, Auto Insurance
Covered Auto
1. Any vehicles shown in the declarations
2. A newly acquired auto(additional auto is automatically coverer for 14 days)
3. A trailer owned by the named insured
4. A temporary substitute vehicle
Summary of PAP coverages
A. Liability Coverage
B. Medical Payments Coverage
C. Uninsured Motorists Coverage生命可贵
D. Coverage for Damage to Your Auto
E. Duties after Accident or Loss
F. General Provisions
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1. named insured and spou
2. resident family members
3. other persons using a covered auto
4. organization legally responsible for the acts of a covered person
Medical payments coverage pays all reasonable medical, dental, and funeral expen incurred by an insured person for rvices rendered within 3 years from date of the accident.
Uninsured motorists coverage, bodily, hit-and-run, negligent driver with insurance is insolvent.
Underinsured motorists coverage if the driver have liability less than the UMC
Coverage for damage to your auto pay to direct physical loss. Collision loss or other loss is covered only if declarations page indicates大声的英语
Certain duties are impod on the insured after an accident occurs.
Motorcycles and mopeds can be insured by adding miscellaneous0type vehicle endorment.
Principle Chapter 23 Auto Insurance and Society
Approaches for compensating auto accident victims
1. Financial responsibility laws
2. Compulsory insurance laws
3. Unsatisfied judgement funds
4. Uninsured motorists coverage
5. Low0cost auto insurance
6. “No pay, no play” laws
7. No-fault auto insurance
Auto insurance for high-risk drivers
1. Automobile insurance plan
2. Joint underwriting association(JUA)
3. Reinsurance facility
4. Maryland Automobile Insurance Fund
5. Specialty insurers
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Cost of auto insurance/ Premium amount charge basis
1. Territory
2. Age, gender, and marital status
3. U of the auto
4. Driver education
5. Good student discount
6. Number and types of cars
7. Individual driving record
8. Insurance score
Financial responsibility laws require motorists to show proof of financial responsibility after an accident involving bodily injury or property damage over a certain amount. Most of motorist meet it by carrying auto liability insurance.
Compulsory insurance laws require motorists to carry auto liability insurance at least equal to an amount before the vehicle can be licend or registered.
Five states have unsatisfied judgement funds to compensate accident victims. Victim must obtain a judgement against the driver and show the judgement cannot be collected.
Principle Chapter 25 Commercial Property Insurance(没有No fault)
A commercial package policy(CPP) combines two or more coverage parts into a single policy. Compared with single policy, package policy has fewer gaps in coverage and premiums lower.
好听的水果名字Coverage parts available under ISO commercial property program
1. Commercial property coverage form
2. 海鳗鱼的做法Commercial general liability coverage form
3. Crime coverage form
4. Equipment breakdown protection coverage form
5. 无私奉献的反义词Inland Marine coverage form
6. Auto coverage form
7. Farm coverage form
The building and personal property coverage form can be ud to insure the commercial building, business personal property and personal property of others in the care and custody of the insured.
Caus-of-loss form must be added to a commercial policy to form a complete contract
1. Caus-of-loss basic form
2. Caus-of-loss broad form
3. Caus-of-loss special form
The business income coverage form covers the loss of business income due to the suspension of business operations becau of a covered loss.
The extra expen coverage form covers only the extra expens incurred by the firm in continuing operations during the period of restoration. Loss of profits is not covered.
Certain miscellaneous commercial coverages are important to business firms that have unique or specialized needs, including builders risk insurance, condominium insurance, equipment breakdown protection insurance and difference in conditions insurance.
Ocean marine insurance
1. Hull insurance
2. Cargo insurance
3. Protection and indemnity(P&I) insurance
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4. Freight insurance
A particular average in ocean marine insurance is a loss that falls entirely on a particular interest, as contrasted with a general average that falls on all parties to the voyage.
Inland marine contracts are ud to insure
1. Domestic goods in transit
2. Property held by bailees
