Michigan P & C Insurance Exam Test 2023 with complete
solution
Termination of Insurance for auto and home must be sent to last know address
no later than
30 days before cancellation
Termination of casualty insurance cannot take place until- from the mailing date
10 days
PIP in auto insurance covers individual care from a family member for
a limit of $20 a day for three years
limited collision
shall pay for collision damage to the insured vehicle without a deductible amount when
the operator of the vehicle is not substantially at fault in the accident from which the
damage arose.
Broad from collision
shall pay for collision damage to the insured vehicle regardless of fault, the deductibles
shall be waived if the operator of the vehicle is not at fault in the accident
Standard Collision
which has a deductible for at-fault and non-fault accidents.
Personal Protection Insurance (PPI) benefits
pay up to $1 million per accident for damage done to property arising from the
ownership, operation or maintenance, or use of motor vehicle
20/40/10
Michigan limits of auto insurance $20,000 for bodily injury or death for one accident..
$40,000 for bodily injury or death of more than one person for any one accident...
$10,000 for damage property of others for any one accident.
Notice of canellation of auto insurance must be mailed out
20 days prior to the cancellation date
non OEM parts
can be requested by the insurer only if the insured receives a written estimate of repairs
that clearly identifies each non-OEM aftermarket crash part
uninsured and uninsured motorists cannot be cancelled untill
55 days following the original date of issue.
Medical expenses, Funeral expenses, Work loss, Replacement services, and
Survivor's loss are all covered under
Personal Injury Protection (PIP) under auto insurance
reimburses employees injured in the course of and arising from their
employment. Reimbursement includes loss of wages, hospital and medical
expenses, payments for permanent and partial disability, and payments to
dependents. Last sickness and burial expenses also included
Michingan Workers' Compensation
Weekly indemnity benefits in the amount of___of the employee's after tax wages
80%
In workers comp....total and permanent disability does not extend beyond___
from the date of injury
, 800 weeks
HO-3 forms
include open perils and named perils
HO-4 forms
renters policy
HO-5 forms
all coverages unless exlcuded
HO-6
Condo coverage
HO-8
mainly fire protection, homes are replaced where cost far exceeds market value
Property Coverages on a Homeownes Policy include
A-dwelling, B-other structures, C-personal injury, D-loss of use
Riot, Explosion, Vehicles, Volcanic Eruption, Civil Commotion, Smoke, Hail,
Aircraft, Windstorm, (REVVCSHAW) are
Basic perils in a HO-8
Personal Property in a HO policy includes
10% of coverage C or $1,000 or dependents students at college
Theft of Jewelry in HO policy Coverage C limit is
$1,500
Property coverage will include removal of trees and shrubs at
$500 per tree and $1,000 for all fallen trees, shrubs and plants for debris removal
Credit Card and forgery has a maximum coverage of
$500
For property coverage under a "collapse" limited coverage if
caused by a named peril, hidden decay, vermin, weight of snow or rain
Standard HO deductible is
$500
Medical Payments under a HO policy is coverd
up to 3 years from the date of the accident
HO policy cannot included a boat
under 26 feet long, inboard powerboat with 50hp or outboard powerboat with 25hp
HO policy can include a boat
over 26 ft long
Travel trailers, motor homes and modular housing are
exlcuded on a HO policy
Essential Insurance Act the producer has the duties of
quote the lowest premium for home and auto insurance available from the insurer that
the producer represents
Under Michigan Law other than non-payment a termination notice must be sent
within 55 days of the inssuance
Termination of property insurance under Michigan a written notice must be sent
out
30 days prior to cancellation
In a Commercial Package Policy (CPP) insurer cancellation must include
non-renewal 60 days, non-payment 10 days
solution
Termination of Insurance for auto and home must be sent to last know address
no later than
30 days before cancellation
Termination of casualty insurance cannot take place until- from the mailing date
10 days
PIP in auto insurance covers individual care from a family member for
a limit of $20 a day for three years
limited collision
shall pay for collision damage to the insured vehicle without a deductible amount when
the operator of the vehicle is not substantially at fault in the accident from which the
damage arose.
Broad from collision
shall pay for collision damage to the insured vehicle regardless of fault, the deductibles
shall be waived if the operator of the vehicle is not at fault in the accident
Standard Collision
which has a deductible for at-fault and non-fault accidents.
Personal Protection Insurance (PPI) benefits
pay up to $1 million per accident for damage done to property arising from the
ownership, operation or maintenance, or use of motor vehicle
20/40/10
Michigan limits of auto insurance $20,000 for bodily injury or death for one accident..
$40,000 for bodily injury or death of more than one person for any one accident...
$10,000 for damage property of others for any one accident.
Notice of canellation of auto insurance must be mailed out
20 days prior to the cancellation date
non OEM parts
can be requested by the insurer only if the insured receives a written estimate of repairs
that clearly identifies each non-OEM aftermarket crash part
uninsured and uninsured motorists cannot be cancelled untill
55 days following the original date of issue.
Medical expenses, Funeral expenses, Work loss, Replacement services, and
Survivor's loss are all covered under
Personal Injury Protection (PIP) under auto insurance
reimburses employees injured in the course of and arising from their
employment. Reimbursement includes loss of wages, hospital and medical
expenses, payments for permanent and partial disability, and payments to
dependents. Last sickness and burial expenses also included
Michingan Workers' Compensation
Weekly indemnity benefits in the amount of___of the employee's after tax wages
80%
In workers comp....total and permanent disability does not extend beyond___
from the date of injury
, 800 weeks
HO-3 forms
include open perils and named perils
HO-4 forms
renters policy
HO-5 forms
all coverages unless exlcuded
HO-6
Condo coverage
HO-8
mainly fire protection, homes are replaced where cost far exceeds market value
Property Coverages on a Homeownes Policy include
A-dwelling, B-other structures, C-personal injury, D-loss of use
Riot, Explosion, Vehicles, Volcanic Eruption, Civil Commotion, Smoke, Hail,
Aircraft, Windstorm, (REVVCSHAW) are
Basic perils in a HO-8
Personal Property in a HO policy includes
10% of coverage C or $1,000 or dependents students at college
Theft of Jewelry in HO policy Coverage C limit is
$1,500
Property coverage will include removal of trees and shrubs at
$500 per tree and $1,000 for all fallen trees, shrubs and plants for debris removal
Credit Card and forgery has a maximum coverage of
$500
For property coverage under a "collapse" limited coverage if
caused by a named peril, hidden decay, vermin, weight of snow or rain
Standard HO deductible is
$500
Medical Payments under a HO policy is coverd
up to 3 years from the date of the accident
HO policy cannot included a boat
under 26 feet long, inboard powerboat with 50hp or outboard powerboat with 25hp
HO policy can include a boat
over 26 ft long
Travel trailers, motor homes and modular housing are
exlcuded on a HO policy
Essential Insurance Act the producer has the duties of
quote the lowest premium for home and auto insurance available from the insurer that
the producer represents
Under Michigan Law other than non-payment a termination notice must be sent
within 55 days of the inssuance
Termination of property insurance under Michigan a written notice must be sent
out
30 days prior to cancellation
In a Commercial Package Policy (CPP) insurer cancellation must include
non-renewal 60 days, non-payment 10 days
