Fact Check -- Alabama Property & Casualty (100% Verified)

Assume your Personal Auto policy has Un/Underinsured limits of 100/300/100. You are injured by a negligent driver with minimum state limits of 30/60/25. You are injured to the extent of $110,000. How much will your Underinsured Motorist coverage pay? correct answers $70,000 If your house is insured for $100,000, then your Homeowners policy automatically provides coverage for up to what amount on your personal property? correct answers $50,000 Your house is hit by lighting and catches fire. Soon, your fire spreads to the Smith house next door. Though the fire fighters save the Smith house, they do significant damage with their axes and fire hoses. The Smiths must live in a motel for 60 days while their house is renovated. Which of Smith's losses is an indirect loss? correct answers The additional cost of living in a motel Purchasing insurance that is unavailable in your state from a non-admitted company is called a __________________ transaction. correct answers Surplus Lines Assume your Personal Auto policy has limits of 100/300/50. What does the number 300 represent if you negligently cause an auto accident? correct answers The most your company will pay for bodily injury you cause in any one occurrence. Calvin's Hardware has a Commercial General Liability policy with an Occurrence limit of $100,000, a General Aggregate limit of $500,000 and a Products and Completed Operations Aggregate limit of $1M. Following a$50,000 Premises loss, what are Calvin's limits? correct answers Occ Limit $100K, Gen Agg $450K, P&COps Agg $1M Choosing a substantial deductible is a method of ___________ risk. correct answers Retaining risk The transportation reimbursement benefits which can be provided under Damage to Your Auto coverage of the PAP utilize a time deductible of _______________ . correct answers The transportation reimbursement benefits which can be provided under Damage to Your Auto coverage of the PAP utilize a time deductible of _______________ . The Building and Business Personal Property coverage form of the Commercial Property policy covers all of the following EXCEPT: correct answers Building parking lots You purchase your business insurance on a calendar year basis. Even though your $10,000 premium is pre-paid through December 31, you decide to cancel on July 1, because you are selling your business. If you are due a pro rata refund, you should receive which of the following? correct answers $5,000 If a thief steals your car and wrecks it, how will the claim be paid? correct answers Other than Collision coverage pays the entire claim.