Lesson 8 Part 1 - Lesson 8 (1): The Personal Auto Policy...

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1 Lesson 8 (1): The Personal Auto Policy (PAP) ISO FORM
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2 Policy Layout Part A : Liability Part B : Medical Payments Part C : Uninsured Motorists Part D : Physical Damage Pays if you are sued Pays you if injured Pays if you are hit by negligent driver Collision Other Than Collision Pays for damage to your car
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3 PAP Is Different From HO Contract A policy owner may generally pick and choose the coverage wanted Coverage applies only if declaration page indicates the coverage has been purchased Each insuring agreement can generally stand by itself Some definitions change depending on the insuring agreement
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4 Definitions “You” = named insured & spouse if resident Family member must be a resident “Your Covered Auto” Shown in declarations Private passenger auto, small pickup, or van Newly acquired autos Trailer
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5 Part A -- Liability Pays legal judgments on your behalf resulting from an auto accident Includes owned and non-owned vehicles
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This note was uploaded on 10/08/2011 for the course FINANCE FINANCE taught by Professor Don'tknow during the Spring '09 term at American Internation College.

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Lesson 8 Part 1 - Lesson 8 (1): The Personal Auto Policy...

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