Under a Personal Auto policy, an insured MUSTtake which of the following acts after a coveredloss?Hire an appraiser to evaluate the lossNotify a public adjuster of the lossTake reasonable steps to protect thevehicle from further damagePay any additional premiums owed on thepolicy

A Personal Auto policy is insurance coverage for individuals' vehicles, providing financial…

Answered: Under a Personal Auto policy, an…

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter10: Managing Property And Liability Risk

Section10.3: Homeowner’s Insurance

Problem 4CC

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Similar questions

Losses due to destruction of personal property are covered by (choose the best answer) Personal insurance Liability insurance Property & casualty insurance Umbrella insurance
One purpose of casualty policy’s condition section is to list the property that is to be covered list the perils that are to be insured against provide for extension of coverage specify the insured responsibilities in the event of loss
An insured is purchasing a Building and Personal Property Coverage Form (BPP) to cover her business. She asks the agent to explain how her property will be valued in the event of a loss. Which one of the following statements made by her agent accurately describes how the covered property will be valued in the event of loss? The insurer is obligated to pay replacement cost regardless of whether or not the property has actually been repaired or replaced. The insurer is obligated to pay the cost to replace the damaged or destroyed property with new property of like kind and quality without any deduction for depreciation or obsolescence. Insurers underwrite the coverage carefully because some items that can be difficult to value, such as manuscripts, works of art, antiques, and rare articles, are covered for replacement cost. If the insured elects to accept an ACV claim settlement, the insured is barred from later requesting payment of replacement cost.
Homeowners insurance provides coverage for: Damages that the insured becomes legally obligated to pay because of bodily injury or property damage. Perils not named in a named peril policy. The insured's personal, nonbusiness activities that occur anywhere. Damages resulting from intentional acts of an insured.
Which of the following statements is correct about perils in property insurance policies? An (HO-2) form provides coverage for more perils than a (HO-3) Form. a Peril is defined as the cause of a loss A peril increases the chance of a loss a property insurance policy must contain a list of all cover perils
Bodily injury and property damage liability policies protect an insured for Loses for which the insured is legally liable Losses to the business property the insured owns Damage to the insured’s private property caused by a visitor The insured personal medical bills
. A __________ __________ is a part of a fire insurance policy that requires the policyholder to purchase coverage at least equal to a specified percentage of the replacement cost of the property to obtain full reimbursement for losses.
To receive coverage for bodily injury resulting from an accident with a stolen vehicle, an individual should purchase which of the following coverage? Medical payment Uninsured Motorists Bodily injury liability Property damage liability
A mortgagee is entitled to certain consideration in the event of a loss to property when indicated as the mortgagee on an insurance policy. Which one (1) of the following is the consideration? OA) The mortgagee is entitled to the proceeds of the insurance to the extent of its financial interest in the property. OB) The mortgagee is entitled to the full proceeds of the insurance. OC) The insured and the mortgagee are permitted to consider the loss and decide between them how much each will receive. OD) The insurer pays the entire loss to the insured who is required to satisfy the mortgagee.
Identify and describe the personal risk that is mitigated by the purchase of disability income insurance;
Choose a property and liability insurance agent and company, and settle claims.
Identify the types of coverage provided by homeowners insurance.

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Under a Personal Auto policy, an insured MUST take which of the following acts after a covered loss? Hire an appraiser to evaluate the loss Notify a public adjuster of the loss Take reasonable steps to protect the vehicle from further damage Pay any additional premiums owed on the policy