Exam 10: Property and Liability Insurance

Uninsured motorist's protection coverage provides coverage for injuries caused by an uninsured motorist,a negligent driver whose insurance company is not solvent,or a hit-and-run driver.

Each automobile policy contains both liability and property damage coverage.

Heather was advised to take a defensive driving course as a means to reduce her annual auto insurance premium.Is this a true or a false suggestion?

You have recently inherited a sum of money.You are purchasing an old Victorian home which was built in 1856.The type of insurance needed on the house would be

Insurers in California are required to offer ________ coverage to consumers due to the substantial risk factors in that state.

The ________ is the amount that you agree to pay before insurance coverage kicks in.

The inflation guard endorsement on your homeowners insurance policy automatically decreases your policy premiums each year due to the inflation rate.

You should not alter or repair any physical damages to your property until after the claims adjuster has investigated the loss.

Briefly describe the most common automobile insurance discounts.

Lisa and Eric were notified that replacement cost coverage is in effect on a home owner's policy only if the home is insured for at least 80% of its replacement cost.This provision is known as the

Pretend you are an insurance agent.Explain the coinsurance and 80 percent rule to a client.

An HO-3 policy is a special form of homeowner's insurance policy that offers open perils protection except for those perils specifically excluded.

In 2014,at least 26 percent of all auto collisions involved cell phones.

Felix's $2,000 TV was stolen.He has no record of its purchase,however,he knows his insurance company will reimburse him the full value of the TV.

Which of the following is a way for consumers to keep their automobile insurance rates down?

For structural damage to your dwelling,it would be a good idea to request for an estimate from a qualified contractor before accepting the check from your insurance company.

You had several of your son's friends over last night for a sleepover.While dropping off their child,one of the parents did not see your basketball hoop and smashed it beyond repair with her car.Where would you look for damage payment?

Personal liability insurance protects you from financial losses incurred if someone is injured on your property or as a result of your actions.

To effectively collect on a loss when filing a homeowner's claim,the first step should be

What characteristics will affect the cost of your car insurance?