General Lines 220 Personal Auto (Unit 3)
Terms in this set (36)
The FL Financial Responsibility Law is triggered by an accident involving what type of conditions?
1. Bodily Injury
2. Property Damage, rendering auto unusable
3. Certain serious traffic violations, such as DUI or felonies
What are the four ways of satisfying Florida Law?
2. Auto Insurance (liability)
4. Self Insurer
How can you avoid penalties for non-compliance under the FL financial Responsibilities Law?
1. Auto Insurance of 10/20/10
2. Qualified Self Insurer
3. Certificate of deposit for $30,000
Provide certification of financial responsibility for future accidents. by filing SR 22 for 3 years
What are penalties for noncompliance under the FL financial Responsibilities Law?
Suspension of driver's license and vehicle registration.
What is Fr-44?
If you are found guilty of DUI you must maintain min. liability limits of 100/300/50 for 3 years
still subject to FFR Law any one who has been here 90 out of last 365 days
What is the purpose of No-Fault Law?
Remove certain claims from tort liability system
have insurer pay benefits
contain rising cost of liability insurance
Exemptions from Definition under no fault
mobile home, taxi, limo, school buses
Who is considered an owner under PIP law?
1. Debtor in possession
2. One who holds the title
3. Leases with option to purchase
4. Leases under agreement for more than 6 months (rents car for more than 6 months)
What is evidence of Insurance?
2. Auto Insurance
4. Self Insurance ( qualified with state)
What are PIP Benefits?
Death ($5000 in addition to PIP limit of $10000)
What does Extended PIP do?
Increases PIP medical from 60% to 80% for insured and family
What is the piercing threshold to allow for non-economical losses?
Loss of bodily function
Injury of a permanent nature
scarring or permanent disfigurement
What are eligible vehicles for PAP?
Private passenger auto, pickup or van
Less than 10,000 pounds
Not used to deliver/transport goods (except incidental to business furniture, equip. install, farming or ranching
Liability Coverage is what policy section?
Medical Payments Coverage is what policy section?
Uninsured Motorist is what policy section?
Coverage for Damage to your Auto is what policy section?
Duties after accident or loss is what policy section?
General Provisions is what policy section?
Where do you find PIP in the Policy Sections?
Part F (General Provisions)
Stacked Uninsured Motorist Coverage Limits
provided for 2 or more vehicles and added together
Uninsured Motorist is triggered by what?
Hit and Run driver
What are the 2 coverages in Part D?
Collision and Other than Collision
What are the additional benefits added if you get Other than Collision?
Pays up to 20 dollar per day, max 600 for:
Transportation expenses because of loss of use expense due to a non-owned auto,
begins 24 hours after loss (except for total theft which is 48 hrs)
coverage ends when auto is returned or company pays for loss
How are losses paid for damages to your auto?
Lesser of ACV or cost to repair or replace
Special $1500 limit for non owned trailer
What doe General Provisions consist of?
Contains contract conditions- policy changes coverage denial for fraud, how company may be sued, subrogation rights and transfers of rights.
What are covered territories?
Within US or posessions, Puerto Rico or Canada.
Extended Non-owned coverage
Extends coverage for liability and optionally medical payments to non owned auto furnished for regular use
Towing and Labor Endorsement
$25, #50, $75, or $100 limits per disablement (roadside only)
what is a reason to get the Named Non-owner coverage?
Business car given to you by employer aka company car. Only coverage available is Liability Medical Payments and UM
When can an insurer cancel policy in the first 60 days?
Can only cancel for dishonored check, failure to respond to notice of additional premium
When can an Insured cancel policy in the first 60 days?
Insured may cancel for total destruction, purchasing coverage elsewhere and after selling the vehicle.
When can a insurer cancel a premium after 60 days?
nonpayment, material misrepresentation or fraud, suspension or revocation of license or registration during the term or whithin 180 days.
When does an insured have to issue a return of premium
Insurerd cancels policy= 30 days
insurer cancel policy = 15 days
What amount of insurance is required for tags in Florida?
$10000 Property damage Liability