Respond to the following questions: 1. Characterize the elements of vehicle insurance coverage by addressing the...

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Respond to the following questions: 1. Characterize the elements of vehicle insurance coverage by addressing the following: a. Describe the type of coverage provided under each of the four "Parts" of a vehicle insurance policy. b. Provide an example of a type of vehicle-related peril that could occur related to each of the four parts. c. Provide an example of a dollar limit that could exist in a policy for each of the four parts. d. Describe three factors affecting the premium for a vehicle insurance policy. e. You purchased a vehicle for this project as part of requirement #1f of the M5 Assignment: Major Purchases. In order to understand the related cost of this type of insurance, obtain an estimate for this vehicle. The best source for this information would be your insurance agent or a family member or friend's agent if you do not have one. You may also utilize any online source but only if you are comfortable with providing personal information (if required). If your current vehicle is the same or similar to your purchased vehicle, you may also use your current insurance policy cost for this requirement. Respond to the following questions: 1. Characterize the elements of vehicle insurance coverage by addressing the following: a. Describe the type of coverage provided under each of the four "Parts" of a vehicle insurance policy. b. Provide an example of a type of vehicle-related peril that could occur related to each of the four parts. c. Provide an example of a dollar limit that could exist in a policy for each of the four parts. d. Describe three factors affecting the premium for a vehicle insurance policy. e. You purchased a vehicle for this project as part of requirement #1f of the M5 Assignment: Major Purchases. In order to understand the related cost of this type of insurance, obtain an estimate for this vehicle. The best source for this information would be your insurance agent or a family member or friend's agent if you do not have one. You may also utilize any online source but only if you are comfortable with providing personal information (if required). If your current vehicle is the same or similar to your purchased vehicle, you may also use your current insurance policy cost for this requirement.