4 - PAP: Liability, Med Pay, and UM Coverage questions and answers graded A+

4 - PAP: Liability, Med Pay, and UM Coverage questions and answers graded A+ Personal Auto Policy (PAP) Used to insure autos owned by individuals and families. - Declarations - Agreement and Definitions - 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 or Loss - Part F - General Provisions - Endorsements PAP Declarations Includes general info such as name and address of insured, name of insurer, policy period, description of the covered autos, limits of liability, premium and rating info, and endorsements that may apply to policy. 00:42 01:28 PAP Agreement and Definitions General agreement stating insurer is providing the coverage subject to payment of premium and to the terms of the policy, uses simple-to-understand language to define important words and phrases used throughout policy. PAP Part A Liability Coverage protects the insured against claims or lawsuits for bodily injury or property damage arising out of the operation of an auto. PAP Part B Medical Payments Coverage compensates for reasonable and necessary medical and funeral expenses because of bodily injury to the insured caused by an auto accident. PAP Part C Uninsured Motorists Coverage pays damages if an insured is injured by an uninsured motorist, a hit-and-run driver, or a driver whose insurer is insolvent. PAP Part D Coverage for Damage to Your Auto compensates for physical damage to a covered auto and to certain nonowned autos. Aka physical damage coverage, Part D includes other than collision and collision coverages. Some insureds elect not to include physical damage coverage on their policies. PAP Part E Duties After an Accident or Loss outlines the duties required of an insured after an accident or a loss, such as requirements for notifying the insurer of the details of any losses that happen. PAP Part F General Provisions contains information such as how changes to the policy can be made, provisions for cancellation and termination of the policy, and descriptions of the policy period and territory. PAP Endorsements Includes state-specific endorsements to adapt the PAP to state-specific laws and regulations applying to auto insurance. Endorsements are also available to provide additional coverages that are desired by some policyholders but are not purchased by all policyholders. Identify the types of information typically contained on the Declarations page of the Personal Auto Policy. Provides specific info regarding the insurer, the named insured, the policy number and the policy period, insured vehicles, the coverage provided, and a list of any endorsements that may apply to the policy. Also included are the identification of insured vehicles' lienholders, if any; vehicles' garage locations if other than at the insured's address; rating information; and the signature of an authorized legal representative of the insurer. Declarations page (declarations, or dec.) An insurance policy information page or pages providing specific details about the insured and the subject of insurance. Named insured A person, corporation, partnership, or other entity identified as an insured party in an insurance policy's declarations page. Policy period The time frame, beginning with the inception date, during which insurance coverage applies. Vehicle identification number (VIN) A unique number that is assigned to each vehicle and that identifies certain vehicle characteristics. Collision coverage Coverage for direct and accidental loss or damage to a covered auto caused by collision with another object or by overturn. Other than collision (OTC) coverage Coverage for physical damage to a covered auto resulting from any cause of loss except collision or a cause of loss specifically excluded.