Ga Property & Casualty Insurance Study Guide with Complete Solutions
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Course
GA Life Insurance
Institution
GA Life Insurance
Ga Property & Casualty Insurance Study
Guide with Complete Solutions
Personal Automobile Policy - Answer️️ -• 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 ...
Ga Property & Casualty Insurance Study
Guide with Complete Solutions
Personal Automobile Policy - Answer✔️✔️-• 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 - Answer✔️✔️-• 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 - Answer✔️✔️-may be show by the following:
1. Personal automobile insurance - Liability coverage
2. Motor vehicle bond
3.Cash or security deposit
Compulsory Insurance Laws - Answer✔️✔️-25/50/25 state minimum limits
(split)
Policy Terms - Answer✔️✔️-either 6 months or 1 year
Personal umbrella - Answer✔️✔️-separate policy for catastrophic liability
claims, in excess of primary coverage; must have primary coverage in force
and raise the limits of liability
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 - Answer✔️✔️-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 - Answer✔️✔️--Named Insured
-Spouse, residing in household (automatically insured, even if not listed)
• If the spouse leaves the Named Insured and takes a listed vehicle with
them and sets up their own household, the vehicle is covered up to 90 days
Family members residing in household
Anyone driving with permission
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