Legal Responsibility is not considered as the component of auto insurance because auto insurance only consists of collision, bodily injury, medical payment or personal injury protection and property damage liability. Therefore option (d) is correct.
Which of the following is not considered one of the four basic types of auto insurance?
Legal Responsibility is not considered as the component of auto insurance because auto insurance only consists of collision, bodily injury, medical payment or personal injury protection and property damage liability. Therefore option (d) is correct.
How will Henry's monthly auto insurance bill be affected by the change?
In order to lower his monthly auto insurance bill, Henry has decided to change his existing policy by increasing the deductible for both collision and comprehensive insurance to the highest amount permitted by his insurance company, AA Auto Insurance .
What are the 4 basic coverages of the standard auto policy?
Six common car insurance coverage options are: auto liability coverage, uninsured and underinsured motorist coverage, comprehensive coverage, collision coverage, medical payments coverage and personal injury protection . Depending on where you live, some of these coverages are mandatory and some are optional.
What is the basic difference between liability insurance and collision insurance A?
What is the difference between property damage liability coverage and collision? Property damage liability coverage pays for the cost to repair damage you cause to property owned by someone else . Collision coverage pays to repair your own vehicle less your deductible.
What are the 4 types of insurance?
- Home Insurance. As the home is a valuable possession, it is important to secure your home with a proper home insurance policy. ...
- Motor Insurance. Motor insurance provides coverage for your vehicle against damage, accidents, vandalism, theft, etc. ...
- Travel Insurance. ...
- Health Insurance.
What are the 3 main types of insurance?
- Life insurance. As the name suggests, life insurance is insurance on your life. ...
- Health insurance. Health insurance is bought to cover medical costs for expensive treatments. ...
- Car insurance. ...
- Education Insurance. ...
- Home insurance.
When shopping for life insurance the best strategy is to?
When shopping for life insurance, the best strategy is to: Figure out how much you need, then comparison shop using the Web and other resources . Angelo, age 40, is comparing the premium for a $125,000 whole life insurance policy he may take now and the premium for the same policy taken out at age 45.
When shopping for life insurance What should you look for?
When shopping for life insurance, you should look for: A company with a low premium rate and a good rating . Eva is 29 years old and has 2 children, ages 3 and 5.
What is the basic difference between liability insurance and collision insurance quizlet?
Liability insurance covers damage that you cause, and collision insurance covers damage done to your vehicle .
What are the 8 basic auto coverages?
While different states mandate different types of insurance and there are several additional options (such as gap insurance) available, most basic auto policies consist of: bodily injury liability, personal injury protection, property damage liability, collision, comprehensive and uninsured/underinsured motorist.
Which insurance company has the highest customer satisfaction?
| Rank COMPANY J.D. POWER CLAIMS SATISFACTION SCORE, 2020 | 1 New Jersey Manufacturers Insurance Co. 909 | 2 Amica Mutual 907 | 3 Auto-Owners Insurance Group 890 | 4 USAA 890 |
|---|
What are the three standard parts of an auto policy?
Most auto insurance policies contain three major parts: liability insurance for bodily injury, liability insurance for property damage and uninsured/under-insured motorists coverage .
What happens if you have no collision coverage?
Your collision coverage would pay for any amount exceeding the other driver's liability coverage. That's why lenders and leasing companies require drivers to carry collision insurance. If you didn't have collision coverage, you'd be on the hook for the car if it got totaled .
What's the difference between liability and full coverage?
There's a big difference when it comes to liability insurance vs. full coverage. ... Liability covers you for accidents you cause, but full coverage protects you in other important ways as well. If you own your car outright, the choice can be up to you to set the coverage limits that best protect you and your family .
Is it better to have collision or comprehensive?
Collision coverage pays for your vehicle's damage if you hit an object or another car. Comprehensive insurance pays for non-crash damage, such as weather and fire damage. It also pays for car theft and damage from collisions with animals.
