Which of the following statements about Coverage E: Personal Liability under the homeowners 3 policy is true? The insured must be legally liable for insurer to pay damages.
What are the three parts of liability insurance?
Liability. Most auto insurance policies contain three major parts: liability insurance for bodily injury, liability insurance for property damage and uninsured/under-insured motorists coverage .
Which of the following persons is are covered for liability insurance under the PAP?
Part A: Liability Coverage Liability coverage usually provides a maximum of $50,000 for bodily injury (to any one person), $100,000 for bodily injury per accident, and $50,000 for property damage. Under liability coverage, the following people are protected: The named insured or family member (child, spouse) .
For which of the following persons will medical expenses be paid under the medical payments coverage of the personal auto policy?
Medical Payments Coverage pays limited medical expenses for people injured in the car you are driving when you have an accident , whether or not you are at fault.
What does liability insurance Cover What 2 types of insurance listed in the article have liability coverage?
Auto liability insurance coverage helps cover the costs of the other driver's property and bodily injuries if you're found at fault in an accident. ... If you have liability insurance, your insurance provider will cover costs for the driver's damaged car, minus your deductible, and up to your covered limit.
Which of the following is a covered peril under the Personal Property Coverage Coverage C of an unendorsed homeowners 3 policy?
damage to trees and shrubs caused by a windstorm. Which of the following is a covered peril under the personal property coverage (Coverage C) of an unendorsed Homeowners 3 policy? ... Losses due to the failure of the insured to use all reasonable means to save and preserve property after the time of a loss.
Which is correct regarding the automatic increase in insurance endorsement?
Which is correct regarding the Automatic Increase in Insurance Endorsement? ... 50% of Coverage A–The basic amount of Coverage C insurance is 50% of the Coverage A Limit. This amount can be increased by payment of an additional premium.
What if my car is totaled and I only have liability?
If your car is totaled and you only have liability insurance, you will have to pay to replace the vehicle yourself or file a claim with the other driver's insurance company . ... You need to have collision, comprehensive, or new car replacement coverage if you want your insurance company to pay to replace a totaled car.
What coverage is liability only?
When you hear someone say “liability only,” they're actually referring to two types of coverages that go hand in hand, not one: bodily injury liability and property damage liability . Together, these coverages help pay for the other person's medical expenses, lost wages, vehicle repair, vehicle replacement, and more.
How does liability insurance protect?
Liability coverage pays for property damage and/or injuries to another person caused by an accident in which you're at fault . This coverage is required by most states to legally drive your vehicle. Liability coverage is broken down into 2 parts: property damage and bodily injury.
What is the difference between bodily injury and medical expenses?
Bodily injury liability coverage applies to injuries you or anyone insured under your policy becomes legally responsible for as a result of an accident. Medical payments coverage pays for reasonable medical expenses incurred by you or passengers in your vehicle regardless of who is at fault for the accident.
Will my health insurance cover me in an auto accident?
Although some diseases aren't covered under some health insurance plans because of their nature, a good health insurance company usually covers most illnesses and diseases. ... In fact, even medical expenses that occur as a result of accidents are covered under your usual health insurance .
Do medical bills come out of settlement?
Everyone that is owed money from the case will be paid from those proceeds. You will need to satisfy unpaid medical balances from the settlement amount as well. ... If the insurance policy is small and the medical bills high, the only way for you to come out with any money is to get the medical bills reduced.
What is the type of liability insurance?
The three main types of liability insurance coverage are: General liability . Professional liability . Employer liability .
What are the main types of liability insurance?
- 1) Commercial general liability (CGL) policy: ...
- 2) Directors and Officers liability insurance: ...
- 3) Professional indemnity insurance: ...
- 4) Cyber risk insurance: ...
- 5) Commercial crime insurance: ...
- 6) Carrier legal liability insurance:
What are the liabilities of an insurance company?
| Assets: Net fixed assets 1.57 | Liabilities: Other creditors 8.02 | Total liabilities 397.59 |
|---|
