SC P&C Producer Exam Section 6 Auto Insurance Questions With Solutions 100% Correct
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Course
South Carolina Property And Casualty Insurance
Institution
South Carolina Property And Casualty Insurance
SC P&C Producer Exam Section 6 Auto
Insurance Questions With Solutions 100%
Correct
Auto Cancelation May cancel without cause during the first 90 days of the policy
Notice of cancelation insurer must send notice with written reason for cancelation
Named driver exclusion An endorsement to an ...
SC P&C Producer Exam Section 6 Auto
Insurance Questions With Solutions 100%
Correct
Auto Cancelation May cancel without cause during the first 90 days of the policy
Notice of cancelation insurer must send notice with written reason for cancelation
Named driver exclusion An endorsement to an auto insurance policy that provides that a
policy does not cover accidents when a specifically named person is the driver.
Constructive Total Loss Occurs when the cost of salvaging the cargo is too high relative to
the value saved
Trailer a vehicle designed to be pulled by a private passenger auto, a pickup, or a van
Covered Auto any listed in the declarations section of the insurance contract, a newly
acquired vehicle, a trailer owned by a named insured, or a temporary substitute vehicle, any
personal vehicle leased for at least 6 months
, SC P&C Producer Exam Section 6 Auto
Insurance Questions With Solutions 100%
Correct
Newly Acquired Auto Any vehicle acquired by the insured during the policy period.
Insuring Agreement A statement in an insurance policy that the insurer will, under
described circumstances, make a loss payment or provide a service.
Defense Costs Legal expenses incurred by the insurer to defend suits brought against
insureds, (Paid in addition to policy limits)
Supplementary Payments Various expenses the insurer agrees to pay under a liability
insurance policy (in addition to the liability limits) for items such as premiums on bail bonds and
appeal bonds, loss of the insured's earnings because of attendance at trials, and other reasonable
expenses incurred by the insured at the insurer's request.
Limit of Liability The maximum amount the insurer will pay for a specified insured
contingency.
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