Assignment Chapter 10-Protecting Your Property Back to Assignment Attempts: Keep the Highest: 31 8. The form and format of the personal automobile policy Aa Aa What Coverages Are Provided in the Personal Automobile Policy? As with the homeowner's policy, the personal automobile policy (PAP) is a comprehensive policy, because it includes several types of coverages bundled into a single package The PAP has six parts. Organize the six components into their proper sequence and complete the associated statements where applicable Part Policy Component Coverage Provided r by injuny andooeb for which you This pays for for up to expenses do not exceed the policy's limit. This coverage is designed to protect policyholders, including the named insured and his or her family, when they are negligently injured by accident-related expenses years after the accident-provided that those This part in the PAP provides two types of optional protection coverage and coverage Read and complete the following statements regarding the coverages provided by the PAP. Assignment Chapter 10- Protecting Your Property Read and complete the following statements regarding the coverages provided by the PAP Insurance companies can express their liability coverage using either a combined limit or split limits. If a split limit is used, such as $100,000/$300,000/$100,000, then the first term in the limit expresses the maximum dollar amount that the insurance company will pay for Most states allow you, as a policyholder, to seek reimbursement for your medical expenses up to the limit of your policy even if the following are true. Check all that apply You have already received compensation from your health insurance company. You are occupying a vehicle that is not covered by the policy Your insurance company proves that someone else was at fault and you've already been paid by the other person's insurance company . Three conditions must be met for you to receive compensation under Uninsured Motorists Coverage. These are as follows Check all that apply The at-fault motorist is underinsured or lacks insurance altogether. The only damages sustained in the accident are personal injuries; property damages are not covered The injured motorist must have sustained damages. . Underinsured motorists coverage is also available, and protects you, a policyholder, against damages caused by an at-fault damage than the limit of his or her liability coverage, then or underinsured driver. If the at-fault driver causes your company will make up the difference, up to driver , and then subrogates with the negligent Lenders and lessors Collision coverage pays to repair the policyholders vehicle typicaly require this coverage, and unless replacement cost coverage is taken, the insurance company will pay only the vehicle's your deductible. - One way to reduce your insurance premium is to collision. This part , Comprehensive coverage pays to repair damage to an insured's vehicle caused by peris of the PAP protects the vehicle but normally does not cover Assignment Chapter 10 - Protecting Your Property underinsurea motorists coverage is aiso avaiiaie, ana protects you, a poiicynoiaer, against oamages causea oy an at-raun or underinsured driver. If the at-fault driver causes your company will make up the difference, up to driver damage than the limit of his or her liability coverage, then and then subrogates with the negligent . Collision coverage pays to repair the policyholder's vehicle Lenders and lessors typically require this coverage, and unless replacement cost coverage is taken, the insurance company will pay only the vehicle's . One way to reduce your insurance premium is to your deductible. Comprehensive coverage pays to repair damage to an insured's vehicle caused by perils of the PAP protects the vehicle but normally does not cover collision. This part Read each of the following situations and determine if each is covered by the standard protections provided by the PAP Not Covered Situation 1. Malika decided to save money by reducing the amount of liability coverage provided by her policy. She carries only the state-minimum required coverage but had an accident that is expected to cost three times that limit. Will her policy cover the additional costs of the accident? 2. Kaysan carries $10,000 per person in medical payments coverage and suffers a severe accident while walking down the street with four friends. Can he seek reimbursement for his medical expenses under his PAP? 3. while driving drunk, Michael struck two pedestrians and damaged two cars. He was charged with several criminal offenses. will his PAP pay for his defense against these charges? 4. While shopping for Christmas, Kelly placed several bags of presents in the trunik and then went back into the mall. Five minutes after she walked away from the car thieves broke into the trunk and stole the presents. wi her PAP pay to replace the presents? Assignment Chapter 10-Protecting Your Property Back to Assignment Attempts: Keep the Highest: 31 8. The form and format of the personal automobile policy Aa Aa What Coverages Are Provided in the Personal Automobile Policy? As with the homeowner's policy, the personal automobile policy (PAP) is a comprehensive policy, because it includes several types of coverages bundled into a single package The PAP has six parts. Organize the six components into their proper sequence and complete the associated statements where applicable Part Policy Component Coverage Provided r by injuny andooeb for which you This pays for for up to expenses do not exceed the policy's limit. This coverage is designed to protect policyholders, including the named insured and his or her family, when they are negligently injured by accident-related expenses years after the accident-provided that those This part in the PAP provides two types of optional protection coverage and coverage Read and complete the following statements regarding the coverages provided by the PAP. Assignment Chapter 10- Protecting Your Property Read and complete the following statements regarding the coverages provided by the PAP Insurance companies can express their liability coverage using either a combined limit or split limits. If a split limit is used, such as $100,000/$300,000/$100,000, then the first term in the limit expresses the maximum dollar amount that the insurance company will pay for Most states allow you, as a policyholder, to seek reimbursement for your medical expenses up to the limit of your policy even if the following are true. Check all that apply You have already received compensation from your health insurance company. You are occupying a vehicle that is not covered by the policy Your insurance company proves that someone else was at fault and you've already been paid by the other person's insurance company . Three conditions must be met for you to receive compensation under Uninsured Motorists Coverage. These are as follows Check all that apply The at-fault motorist is underinsured or lacks insurance altogether. The only damages sustained in the accident are personal injuries; property damages are not covered The injured motorist must have sustained damages. . Underinsured motorists coverage is also available, and protects you, a policyholder, against damages caused by an at-fault damage than the limit of his or her liability coverage, then or underinsured driver. If the at-fault driver causes your company will make up the difference, up to driver , and then subrogates with the negligent Lenders and lessors Collision coverage pays to repair the policyholders vehicle typicaly require this coverage, and unless replacement cost coverage is taken, the insurance company will pay only the vehicle's your deductible. - One way to reduce your insurance premium is to collision. This part , Comprehensive coverage pays to repair damage to an insured's vehicle caused by peris of the PAP protects the vehicle but normally does not cover Assignment Chapter 10 - Protecting Your Property underinsurea motorists coverage is aiso avaiiaie, ana protects you, a poiicynoiaer, against oamages causea oy an at-raun or underinsured driver. If the at-fault driver causes your company will make up the difference, up to driver damage than the limit of his or her liability coverage, then and then subrogates with the negligent . Collision coverage pays to repair the policyholder's vehicle Lenders and lessors typically require this coverage, and unless replacement cost coverage is taken, the insurance company will pay only the vehicle's . One way to reduce your insurance premium is to your deductible. Comprehensive coverage pays to repair damage to an insured's vehicle caused by perils of the PAP protects the vehicle but normally does not cover collision. This part Read each of the following situations and determine if each is covered by the standard protections provided by the PAP Not Covered Situation 1. Malika decided to save money by reducing the amount of liability coverage provided by her policy. She carries only the state-minimum required coverage but had an accident that is expected to cost three times that limit. Will her policy cover the additional costs of the accident? 2. Kaysan carries $10,000 per person in medical payments coverage and suffers a severe accident while walking down the street with four friends. Can he seek reimbursement for his medical expenses under his PAP? 3. while driving drunk, Michael struck two pedestrians and damaged two cars. He was charged with several criminal offenses. will his PAP pay for his defense against these charges? 4. While shopping for Christmas, Kelly placed several bags of presents in the trunik and then went back into the mall. Five minutes after she walked away from the car thieves broke into the trunk and stole the presents. wi her PAP pay to replace the presents