RMIN 4000 UGA Edmunds Exam 4 Questions and Answers Solved 100%

50% rule - you cannot recover if you are 50% or more at fault 51% rule - you cannot recover if you are 51% or more at fault additional coverages under Section I - debris removal of damaged property, reasonable repairs, trees and other plants, fire department service charge, unauthorized credit card use, loss assessment, collapse, ordinance or law, graves markers or landlord's furnishings appraisal - used when insured and insurer agree that loss is covered but disagree as to loss amount assignment condition - You cannot assign policy benefits to another party without insurer's consent assumption of risk - A person who understands and recognizes the danger inherent in a particular activity cannot recover damages in the event of an injury (foul ball at game) attractive nuisance - a condition that can attract or injure children where occupants of land are liable (pool or playground) auto collision coverage - the upset of your covered auto or non-owned auto or its impact with another vehicle or object. also covers non-owned and temporary subs (paid regardless of fault, icy roads, hit door on pole) auto damage coverage - covers direct and accidental loss to a covered auto or non-owned auto auto loss settlement - total loss (ACV), partial loss (pay $ to replace with like quality), deductibles (some lower for glass), and diminution in value (loss in market/resale value, could be owed to insurer)boatowner's coverage - package policy for damage to boat, liability, medical expenses, and uninsured boaters (deductible usually applies) broad coverage of personal umbrella liability - Bodily injury and property damage, personal liability, and additional coverages including defense costs categories of tort - intentional, strict liability, and negligence coinsurance in homeowners property insurance - encourages the insured to insure the property to a stated percentage of its insurable value combined single limit - liability coverage for bodily injury and property damage in one limit common endorsements to homeowners policy - Inflation guard, personal property replacement cost, scheduled personal property, personal injury, watercraft, or backup of sewer and drain comparative negligence - Financial burden of injury is shared by both parties according to respective degrees of fault compensatory damages - compensate the injured party for the harm suffered (special and general) compulsory insurance laws - Require motorists to carry at least a minimum amount of liability insurance before the vehicle can be licensed or registered (GA minimum is 25k/50/25) contributory negligence - Injured person cannot collect if their care falls below the standard of care required for their protection or they are 1% responsible Coverage A:Dwelling - Covers the dwelling (house) on the residence premises, structures attached to the dwelling, materials intended for construction, and no coverage for landCoverage B: Other Structures - covers other structures on the residence premises set apart from the dwelling by clear space (detached garage or tool shed, rented out structures excluded) coverage C: personal property - covers personal property owned or used by an insured while it is anywhere in the world. storage coverage is limited to 10% or $1000, whichever is greater