Personal and Business Auto Table of Contents p. 1 of 5 Unit 1 - Introducing Auto Insurance pp. 7-41

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1 Personal and Business Auto Table of Contents p. 1 of 5 Unit 1 - Introducing Auto Insurance pp Problems associated with auto accidents and insurance The large number of auto incidents High Cost of accidents The uninsured and the underinsured Problems in obtaining coverage Compensating the victim Compulsory Insurance Coverage and Financial Responsibility Laws Unsatisfied Judgment Funds Uninsured and Underinsured No-fault auto Personal Auto Policy Contents of Coverage Eligibility Explanation of definitions Covered Auto Trailer Substitute Vehicles The meaning of You and Yours Family Member Occupant Territory Part A-Liability Coverage Part B-Medical Payments Coverage Part C-Uninsured Motorists Coverage Uninsured Vehicle Part D-Damage to Your Auto Coverage Collision Other than Collision Settling losses Personal Auto Policy Endorsements Extended Non-owner Named Non-owner Miscellaneous Type Vehicle Snowmobile Limited Mexico Coverage

2 Personal and Business Auto Unit 1 Table of Contents continued p. 2of 5 Damage to Your Auto-Maximum Liability Limit Joint Ownership Auto Loan/Lease Towing and Labor Other Endorsements Insuring Hard to Insure Drivers Specialty Insurers Assigned Risk Plans Joint Underwriting Associations Reinsurance Shopping for Auto Insurance Personal Umbrella Liability No-Fault Auto Insurance Background Variations Pay at the Pump concept Effectiveness Personal Injury Policy (PIP) Effectiveness Fraud and PIP Types of Insurance General Umbrella Underwriting and Rate Making Discounts Claims Loss History Setting Rates Assessing a Risk Preferred (low) Standard (average) Nonstandard (high) Age, Sex, Marital Status Assessing a Risk (continued) Driving Record Driving Record of Family Living With You Your Car Liability to Others (BI) A to Z Aspects of Claim Handling Unit 2 Commercial Auto pp Business Auto Liability Commercial Auto Coverages Physical Damage For Truckers Age is a factor Maintenance and Safety

3 Personal and Business Auto Table of Contents Unit 2 continued p. 3 of 5 Records Types of Insurance for Truckers Business Owner Liability Federal Insurance Requirements Interstate Insurance Requirements Passengers Commercial Auto Underwriting and Ratemaking Covered Autos Unit 3 Auto Insurance Rating pp General Part A Part B Part C Part D History of Auto Insurance Why is Auto Insurance Mandated? Two kinds of Risks; Pure and Speculative Types of Loss Hazards Probability of Loss What is Degree of Risk? The Role of Insurance Rates Liability and Negligence Definition of Absolute Liability Defining Strict Liability Unit 4 Personal Auto Coverages pp Differences between Personal and Commercial Auto Coverages Auto Insurance Rating Plans Personal Auto Physical Damage Who is Insured? How to tell whether it s Commercial or Private The Basic Policy The Family Policy Special Package Policies Features that save Money Unit 5 Liability pp Difference between damage loss and liability loss Personal Auto Liability Loss Exposures Duties after an accident

4 Personal and Business Auto Table of Contents Unit 5 continued p. 4 of 5 General Provisions Why Liability Insurance is Necessary Unit 6 Insurance Laws pp State Jurisdictions General Standards Adequacy Responsiveness Stability Rating Structures Unit 7 Rates, Regulation, Simplicity and Definitions pp Chapter 1-How Rates Are Determined Determining Rates Reviewing Classifications Methods of Rating Loss Ratio Method Pure Premium Method Rating Statistics Loss Statistics Expense Data Chapter 2- Rate Regulation Historical Perspective Legal Basis of Regulating Rates Alternative Rate Making Plans State AIP s Chapter 3- Make Auto Insurance Easy Proof of Financial Responsibility The 8-types of Auto Insurance coverages Liability Family Member Coverage Medical Payments PIP Coverage Uninsured/Underinsured Motorist Collision Comprehensive (Other than Collision) Towing and Labor Rental Re-imbursement Stereo Equipment Driving in Other States, Canada and Mexico Coverage for New Automobiles and Additional Automobiles Insurance Shoppers Understanding Rates

5 Personal and Business Auto Table of Contents Unit 7 continued p. 5 of 5 Premium Factors Discounts and/or Surcharges What is a Premium Finance Company? Losing Insurance Coverage Unfair Discrimination High Risk Drivers Steps to Follow after the Accident Steps to follow if the Accident was caused by Other Drivers Repairs Renting Filing the Claim Insuring Young Drivers Chapter4-Definitions and FAQ s pp Course Examination pp

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