Ga Property & Casualty Insurance Study
Guide Solved Papers - Questions with
Complete Solutions
Personal Automobile Policy - Correct Answers ✅• Accounts
for 40% of all premiums
• Vehicles registered to individuals and operated primarily for
personal activities
o Driving to work is a personal activity
o Policy allows use of vehicle for incidental business activities
Financial Responsibility State - Correct Answers ✅•
Georgia is a financial responsibility state
o To legally operate an automobile in the state of Georgia, a
person must show that they are able to financially
compensate the person(s) that they may injure or where they
damage the other person's property
Financial Responsibility - Correct Answers ✅may be show
by the following:
1. Personal automobile insurance - Liability coverage
2. Motor vehicle bond
3.Cash or security deposit
Compulsory Insurance Laws - Correct Answers ✅25/50/25
state minimum limits (split)
$25,000 bodily injury per person
$50,000 bodily injury per occurrence
,Ga Property & Casualty Insurance Study
Guide Solved Papers - Questions with
Complete Solutions
$25,000 property damage
Or
$75,000 - Combined single limits
Policy Terms - Correct Answers ✅either 6 months or 1 year
Personal umbrella - Correct Answers ✅separate policy for
catastrophic liability claims, in excess of primary coverage;
must have primary coverage in force and raise the limits of
liability
Eligible Vehicles - Correct Answers ✅o Private passenger
automobiles
o Trucks <10,000 lbs.
o Vans <10,000 lbs.
Owned or Leased
No business activities covered for trucks and vans
GA Assigned Risk - Correct Answers ✅when someone
cannot qualify for insurance, high premium
Ineligible Vehicles - Correct Answers ✅o Vehicles owned by
businesses
, Ga Property & Casualty Insurance Study
Guide Solved Papers - Questions with
Complete Solutions
o Taxis
o Motorcycles
o Trucks/Vans >10,000 lbs.
o Vehicles used for government purposes
o Vehicles furnished for the regular use of an insured by an
employer
o Trailer - cannot propel itself when the trailer and the vehicle
are connected, both are one in the same for liability claims
Territorial Limits - Correct Answers ✅o United States
o Canada
o United States Territories & Possessions
Puerto Rico
Guam
United States Virgin Islands
American Samoa
o Coverage will not transfer to Mexico, can be purchased on a
daily basis
Insured - Correct Answers ✅-Named Insured
-Spouse, residing in household (automatically insured, even if
not listed)
Guide Solved Papers - Questions with
Complete Solutions
Personal Automobile Policy - Correct Answers ✅• Accounts
for 40% of all premiums
• Vehicles registered to individuals and operated primarily for
personal activities
o Driving to work is a personal activity
o Policy allows use of vehicle for incidental business activities
Financial Responsibility State - Correct Answers ✅•
Georgia is a financial responsibility state
o To legally operate an automobile in the state of Georgia, a
person must show that they are able to financially
compensate the person(s) that they may injure or where they
damage the other person's property
Financial Responsibility - Correct Answers ✅may be show
by the following:
1. Personal automobile insurance - Liability coverage
2. Motor vehicle bond
3.Cash or security deposit
Compulsory Insurance Laws - Correct Answers ✅25/50/25
state minimum limits (split)
$25,000 bodily injury per person
$50,000 bodily injury per occurrence
,Ga Property & Casualty Insurance Study
Guide Solved Papers - Questions with
Complete Solutions
$25,000 property damage
Or
$75,000 - Combined single limits
Policy Terms - Correct Answers ✅either 6 months or 1 year
Personal umbrella - Correct Answers ✅separate policy for
catastrophic liability claims, in excess of primary coverage;
must have primary coverage in force and raise the limits of
liability
Eligible Vehicles - Correct Answers ✅o Private passenger
automobiles
o Trucks <10,000 lbs.
o Vans <10,000 lbs.
Owned or Leased
No business activities covered for trucks and vans
GA Assigned Risk - Correct Answers ✅when someone
cannot qualify for insurance, high premium
Ineligible Vehicles - Correct Answers ✅o Vehicles owned by
businesses
, Ga Property & Casualty Insurance Study
Guide Solved Papers - Questions with
Complete Solutions
o Taxis
o Motorcycles
o Trucks/Vans >10,000 lbs.
o Vehicles used for government purposes
o Vehicles furnished for the regular use of an insured by an
employer
o Trailer - cannot propel itself when the trailer and the vehicle
are connected, both are one in the same for liability claims
Territorial Limits - Correct Answers ✅o United States
o Canada
o United States Territories & Possessions
Puerto Rico
Guam
United States Virgin Islands
American Samoa
o Coverage will not transfer to Mexico, can be purchased on a
daily basis
Insured - Correct Answers ✅-Named Insured
-Spouse, residing in household (automatically insured, even if
not listed)
