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Shaynas Insuance quiz

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Shayna has a deck of flash cards that have insurance questions on them. You do not have to answer in “what it”, “who is” or any form of the question just say the answer and you’ll get the point.
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4 Categories 24 Questions
Auto coverage that pays the difference between the insured’s actuaal damages for bodily injury and the amount of liability insurance carried by th at-fault driver; may be added to personal or commercial auto policy by endorsement. Under the truckers coverage form, covers damage to a specific trailer under the policy of the trucker in whos possession the trailer is at the time of loss.
Game Language : English

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Questions
Number of categories
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Category 1
Q.
Auto coverage that pays the difference between the insured’s actuaal damages for bodily injury and the amount of liability insurance carried by th at-fault driver; may be added to personal or commercial auto policy by endorsement.
A.
Underinsured motorist (UIM)
Q.
Under the truckers coverage form, covers damage to a specific trailer under the policy of the trucker in whos possession the trailer is at the time of loss.
A.
Trailer interchange insurance
Q.
Auto coveragedesigned to provide protection for the insured if they are involved in an accident in which a person that does not have insurance is at fault; this includes those who do not carry insurance, motorists whos insurance coverage is below the states minimum financial responsibility laws, drivers whos insurance companies are insolvent and hit-and-run drivers who cannot be identified.
A.
Uninsured motorist (um)
Q.
When a new vehicle replaces an existing vehicle, the same coverages would apply to new vehicle as were on the car it replaced.
A.
Replacement vehicles
Q.
Policy that provides property and liability coverage both owned and non-owned autos used, maintained, or operated by the insured and the insured’s family members.
A.
Personal auto policy (PAP)
Q.
Form of auto insurance where each insurance compnay pays the damages of its own insureds, regardless of whos fault for the accident.
A.
No-fault insurance
Category 2
Q.
What is the definition of negligence
A.
The lack of reasonalble care that is required to protect others from the unreasonable chance of harm
Q.
The genral term used to describe someone who sells insurance, such as an agent, broker, or solicitor
A.
Producer
Q.
Damage to or destruction of propertz, including loss of use of the property
A.
Property damage
Q.
Coverage in the CGL policy that covers items manufactured or sold by a business when it is off premises
A.
Products coverage in CGL
Q.
Definition of slander
A.
Oral false statements injurious to a person’s reputation; a false and malicious statemnt of report about someone
Q.
Definition of risk
A.
The chance or uncertainty of loss
Category 3
Q.
Endorsement used with the worksers’ compensation and employers liability policy that covers the additional benefits required bt federal law for maritime workers injured while working on navigable waters or shore-site areas.
A.
Longshore and Harbor workers’ compensation act
Q.
Used with workers’ compensation insurance and it a factor assigned to a company based on its prior three-year loss history compared against the average. Losses are baced on only those job codes that apply to the business
A.
Experience modification factor
Q.
Method of providing workers’ compensation coverage used in some states; employers must purchase workers’ compensation insurance from a state fund; private insurance companies are allowed to compete
A.
Monoplistic state fund
Category 4
Q.
Name the 14 basic perils in a homeowners policy.
A.
Fire Lightening Riot Explosion Vehicles Volcanic eruption Civil commotion Smoke Hail Aircraft Windstorm Vandalism Malicious mischief Theft
Q.
What does DICEE in basic property policy structure
A.
D- Declarations I- insuring agreement C- Conditions E-Exclusions E-Endorsement
Q.
What is the equation for coinsurance clause on property
A.
Insurance carried/(divided) Insurance required x(multiplied) = amount of loss
Q.
How do you know your eligible for a dwelling policy and what is covered.
A.
Up to five boarders Up to four apartments Mobile home Residence rented to others Vacation home Townhouse/rowhouse Home under construction
Q.
What are the farm property coverages
A.
Coverage A-dwelling Coverage B-other structures non-farming Coverage C- household personal property Coverage D- loss of use
Q.
What are the types of coverages for Farm property and farm liability coverages
A.
Coverage E- scheduled farm personal property Coverage F- unscheduled farm personal property Coverage G- barns, outbuildings, other farm structures LIABILITY Coverage H- BI and PD Coverage I- personal and advertising injury CoverageJ- medical payments to others
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