Finance

Ken purchased a PAP with liability limits of 100/300/50, medical payme

Ken purchased a PAP with liability limits of 100/300/50, medical payments coverage, and collision coverage. Ken fell asleep while driving late at night. He crossed the center line and hit a car approaching from the other direction. The following losses occurred: —The driver of the other car suffered $30,000 in bodily injuries. —Ken’s car sustained […]

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Date: September 19th, 2020

Tony has an unendorsed Personal Auto Policy which provides medical pay

Tony has an unendorsed Personal Auto Policy which provides medical payments coverage. Under which of the following circumstances would the injured person be eligible for benefits under Tony’s policy? I. A friend in the car is injured while Tony is driving a covered auto. II. A passenger on a motorcycle driven by Tony is injured […]

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Date: September 19th, 2020

Which of the following statements about the medical payments coverage

Which of the following statements about the medical payments coverage of the PAP is true? A) The amount of the benefit typically is $100,000. B) Covered expenses must be incurred within 30 days of the accident. C) Covered expenses include the cost of funeral services. D) The benefit limit applies on a per-accident basis rather […]

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Date: September 19th, 2020

All of the following statements about Part D (coverage for damage to y

All of the following statements about Part D (coverage for damage to your auto) of the PAP are true EXCEPT A) Coverage may be purchased with or without collision insurance. B) Losses are paid regardless of fault. C) Coverage applies to a nonowned auto occasionally driven by an insured. D) No coverage is provided for […]

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Date: September 19th, 2020

All of the following are considered to be uninsured vehicles for purpo

All of the following are considered to be uninsured vehicles for purposes of the uninsured motorists coverage of the PAP EXCEPT A) a vehicle owned by an individual who is insured, but for less than the amount required by the state’s financial responsibility law. B) a hit-and-run vehicle, the ownership of which cannot be determined. […]

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Date: September 19th, 2020

Which of the following statements about the uninsured motorists covera

Which of the following statements about the uninsured motorists coverage of the PAP is true? A) The coverage usually applies only to property damage. B) The coverage applies only if the uninsured motorist is legally liable. C) Unless higher amounts are purchased, the maximum benefit is normally limited to $1,000. D) A covered person’s only […]

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Date: September 19th, 2020