Term
a)Explain the "priority of payment" rule when a claim is made under Section A - Third Party Liability
b)Identify the persons insured under this coverage Section |
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Definition
| When the total claim for bodily injury and property damage reaches $200,000, depending on the province, 80-90% of the minimum limit required is reserved for bodily injury claims. |
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Term
| Identify three persons entitled to receive Accident Benefits coverages. |
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Definition
-Insured
-Insured's spouse
-Dependent family
-Occupants of the automobile
-Pedestrians (limited coverage) |
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Term
| Identify three conditions of coverage under Part II - Loss of Income. |
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Definition
-Benefits payable on a weekly basis, subject to a 7 day waiting period.
-Insureds must be able to establish that they were employed at the time of the accident... or, if 18 years of age or older, employed for any six months during the preceding 12 month period.
-Benefits cease at the end of 104 weeks. |
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Term
| Identify those Supplementary payments which the insurer agrees to pay. |
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Definition
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Term
| Define "Uninsured" automobile. |
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Definition
| One in which neither the driver nor owner has applicable and collectible bodily injury liability insurance. |
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Term
| Define "Unidentified" automobile |
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Definition
| One which causes bodily injury or death to an insured person arising out of actual contact of that automobile in which the insured is an occupant. |
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Term
| Identify four physical damage coverage options available under a policy of automobile insurance. |
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Definition
-All perils
-Collision or Upset
-Comprehensive
-Specified Perils |
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Term
| Provide three examples of claims for which the deductible would not be applied. |
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Definition
-Fire
-Lightning
-Theft of the entire vehicle
-In some provinces, collision with wildlife. |
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Term
| What coverage is provided for damage caused to the automobile when the insured was intoxicated at the time of the accident? |
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Definition
| Coverage is provided when bodily injury and property damage is caused by an insured who was under the influence of intoxicating liquor or drugs. |
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Term
Briefly summarize the intent of the following "Additional Agreements of Insurer":
Salvage |
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Definition
Insurer agrees to pay all costs incurred by insured to save a vehicle from further loss after an accident.
Ex: Tow truck, storage compound charges. |
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Term
Briefly summarize the intent of the following "Additional Agreements of Insurer":
Customs duties |
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Definition
| If the vehicle is damaged in an accident in the US, costs for repairs made there are subject to customs duties. |
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Term
Briefly summarize the intent of the following "Additional Agreements of Insurer":
Waiver of subrogation |
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Definition
Insurer agrees not to subrogate when vehicle is damaged by someone who had the owner's consent to use it.
Exclusions:
-Those having possession for the purposes of garaging
-Drivers/operators convicted of an alcohol-related offense at the time the damage was caused. |
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Term
Briefly summarize the intent of the following "Additional Agreements of Insurer":
Coverage for temporary substitute automobile |
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Definition
| Insurer agrees to cover damage to a "temporary substitute vehicle" which insured vehicle is being repaired. |
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Term
Briefly summarize the intent of the following "Additional Agreements of Insurer":
Loss of use by theft |
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Definition
| Insurer agrees to reimburse loss of use arising directly as a result of theft of the entire automobile. Limit may vary between insurers. |
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Term
The General Provisions, Definitions and Exclusions apply to the entire policy unless stated otherwise.
State the territorial limits insured by the policy. |
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Definition
| Coverage is restricted to Canada, the US, and vessels plying between the ports of those countries. |
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Term
The General Provisions, Definitions and Exclusions apply to the entire policy unless stated otherwise.
What coverage, if any, is provided for persons using the insured automobile without the insured's consent? |
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Definition
| Persons operating the vehicle without the owner's consent are not entitled to any coverage under the policy. |
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Term
The General Provisions, Definitions and Exclusions apply to the entire policy unless stated otherwise.
Identify the coverage provided for:
a) A newly acquired automobile
b) A temporary substitute automobile |
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Definition
a) Automatically covered for 14 days pending insurance when:
-it replaces the automobile described on the policy
-Is in addition to others owned by the insured and which all are insured by the same insurer. |
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Term
| The insured automobile cannot be used to carry passengers for compensation or hire. Provide three examples of uses of the automobile where, although economic benefit is realized, such use is not considered to be "for compensation or hire". |
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Definition
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