Ga Property & Casualty Insurance Study Guide questions with correct answers

Personal Automobile Policy CORRECT ANSWER • Accounts for 40% of all premiums • Vehicles registered to individuals and operated primarily for personal activities o Driving to work is a personal activity o Policy allows use of vehicle for incidental business activities Financial Responsibility State CORRECT ANSWER • Georgia is a financial responsibility state o To legally operate an automobile in the state of Georgia, a person must show that they are able to financially compensate the person(s) that they may injure or where they damage the other person's property Financial Responsibility CORRECT ANSWER may be show by the following: 1. Personal automobile insurance - Liability coverage 2. Motor vehicle bond 3.Cash or security deposit Compulsory Insurance Laws CORRECT ANSWER 25/50/25 state minimum limits (split) $25,000 bodily injury per p