Auto Insurance Exercise

  1. What is the difference between a pure no-fault automobile insurance law and a modified no-fault automobile insurance law.
  2. Describe two types of programs which provide automobile insurance for high-risk drivers.
  3. Explain these automobile insurance rating Factors And why insurance companies use them:

a. Territory

b. Age or driving experience

c. Credit-based insurance scores

d. Multi-car policies

  1. Compare and contrast Uninsured Motorist Coverage and Underinsured Motorist Coverage.
  2. What is the difference between Medical Payments Coverage and No-Fault Personal Injury Protection?
  3. George has a standard, unendorsed Personal Auto Policy (PAP) with coverage for collision loss (with a $500.00 deductible) and other than collision loss (with a $250.00 deductible). What dollar amount, if any, will his PAP pay for each of the following losses? If a loss is not covered or is not fully covered, Explain why.

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