04.01. Overview of the Personal Auto Policy

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Author:
COC2
ID:
208393
Filename:
04.01. Overview of the Personal Auto Policy
Updated:
2013-03-19 20:37:55
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Overview Personal Auto Policy
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Description:
Overview of the Personal Auto Policy
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  1. Personal Auto Policy (PAP)
    • Declaration page
    • Agreement and Definitions page
    • Part A - Liability coverage
    • Part B - Medical payments coverage
    • Part C - Uninsured Motorists coverage
    • Part D - Damage to your auto coverage
    • Part E - Insured duties following an accident
    • Part F - General provisions
  2. PAP - Declarations
    • includes general info such as name, mailing address
    • also provide insurer name and address
    • policy period, covered autos, limits, premium info, endorsements
  3. PAP - Agreement and definitions
    • general agreement stating that the insurer is providing the coverage subject to payment of premium and to the policy terms
    • simple-to-understand language
  4. Overview of PAP coverages
    • Part A: liability. Protects insured against claims or lawsuits for BI and PD arising out of the operation of an auto
    • Part B: medical payments. Compensates for reasonable and necessary medical and funeral expenses because of BI caused by auto accident
    • Part C: uninsured motorists. Pays damages if insured is injured by uninsured motorist, hit-and-run driver, insolvent motorist's insurer
    • Part D: damage to your auto (PD). Compensates for physical damage to a covered auto and to certain nonowned autos. Includes other than PD and PD. Optional
    • Part E: duties after an accident. Requirement for notifying the insurer
    • Part F: general provisions. Policy changes, cancellation, policy period and territory
  5. PAP - Endorsements
    • adapt PAP to state-specific laws and regulations
    • provide additional coverages desired by some but not purchased by all

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