AINS 22 questions with correct answers

AINS 22 questions with correct answers 1-1 List the information found on the Dec page of an Insurance Services Office, Inc. (ISO) Personal Auto Policy (PAP) - ANSWERS 1-2 Identify the information contained in the Agreement and Definitions page of the PAP - ANSWERS 1-3 Contrast the coverage provided under Part A of the PAP with the coverage provided under Part D. - ANSWERS 1-4 At the renewal of his policy, George switched insurers for the PAP covering his family's vehicles. Explain how George can use the Dec page to compare the new policy with the policy form of the previous insurer. - ANSWERS Named insured - ANSWERS policy period - ANSWERS Vehicle Identification Number (VIN) - ANSWERS 2-1 Describe the policy period for a personal auto policy (PAP) - ANSWERS 2-2 List the information that is included in the description of insured autos on the PAP. - ANSWERS 2-3 Identify the rating information found on the PAP Declarations page that may lead to reduced premiums. - ANSWERS 2-4 Amy is completing an application for a PAP and is not sure how to answer the question regarding the garage location for her vehicle. Explain what this term means and how it is used on the PAP. - ANSWERS Collision coverage - ANSWERS 3-1 Explain why some words or phrases included in the PAP are shown in quotation marks. - ANSWERS 3-2 Explain how the definition of "you" Abd "your" provides coverage for a spouse of the named insured. - ANSWERS 3-3 Describe the purpose of the "leased vehicles" definition in the PAP. - ANSWERS 3-4 Describe the importance of the definition of "business" in the PAP. - ANSWERS 3-5 Janice lives in her own apartment and insurers her car under a PAP. Her sisters, Dana and Louise, still live at home with their parents. Explain whether Dana and Louise are included as family members under Janice's auto coverage as defined in the PAP. - ANSWERS Compensatory damages - ANSWERS Split-limits basis - ANSWERS Single-limits basis - ANSWERS Prejudgement interest - ANSWERS Supplementary payments - ANSWERS Attachment - ANSWERS Post judgement interest - ANSWERS Public or livery conveyance - ANSWERS 4-1 Explain what occurs if the cost to defend an insured under the Personal Auto Policy (PAP) exceeds the policy limit of liability - ANSWERS 4-2 Describe the situation in which an insurer would pay the cost of a bail bond for an insured under a PAP. - ANSWERS 4-3 Explain the intent behind the PAP exclusions that eliminates liability coverage for an insured while employed or engaged in the business of selling, repairing, servicing, storing, or parking vehicles designed for use mainly on public highways. - ANSWERS 4-4 Sara works as a maid for Charlie. Charlie insures his auto under a PAP. He asks Sara to accompany him to the grocery store/ While en route, he drives the car into a pole causing bodily injury to Sara. Workers compensation benefits are not required for domestic employees in the state where the accident occurred. Explain what liability coverage Charlie has for Sara's claims against him. - ANSWERS 5-1 Mark's car breaks down as he is gettting ready to go out of state on vacation. He takes the car to his mechanic and learns that a required part for the repair will not arrive for a week. Mark leaves the car at the shop and rents a car to use on his vacation. While driving out of state, Mark is involved in an accident in which he unintentionally drives his rental vehicle into the rear of the vehicle in front of him. The driver of the other vehicle sustains a neck injury. Mark's PAP has limits of 30/60/10. The state where the accident occurs has required liability limits of 50/100/25. Mark is found liable and the other driver is awarded $45,000 Will Mark's PAP provide coverage for this accident? If so, how much will his insurer pay? - ANSWERS 6-1 Describe the two classes of insureds covered by Part B of the Personal Auto Policy (PAP) - ANSWERS 6-2 Describe the exception to the PAP part B exclusion that eliminates coverage for injuries sustained by an insured while occupying a vehicle (other than a covered auto) that is owned by or available for the regular use of a family member - ANSWERS