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07. Section II
Personal Liability
15
Insurance
Undergraduate 1
11/28/2011

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Cards

Term
COVERAGE E
Definition
Personal Liability
Term
PERSONAL LIABILITY
Definition
Pays on behalf of the insured because of bodily injury and property damage to others.
Term
WHAT IS THE MINIMUM LIMIT FOR PERSONAL LIABILITY?
Definition
$100,000
Term
T or F-COVERAGE E WILL ALSO PAY LEGAL DEFENSE EXPENSES FOR THE INSURED
Definition
True
Term
T or F-COVERAGE E WILL NOT PAY LEGAL DEFENSE IF THE CLAIM AGAINST THE INSURED IS GROUNDLESS OR FRAUDULENT
Definition
False
Term
LIABILITY
Definition
Third party coverage that takes care of medical bills, property damage, lost wages, pain and suffering, etc that is the fault of an insured
Term
OCCURRENCE
Definition
An accident, including repeated or continuous exposure to similar harmful conditions
Term
BODILY INJURY
Definition
Includes bodily harm, sickness, disease, and death
Term
PROPERTY DAMAGE
Definition
Means physical damage to tangible property including loss of use
Term
T or F-THE INSURED IS HAVING A PARTY AT A RENTED COMMUNITY CENTER AND A GUEST RIPS A DESIGNER DRESS ON A JAGGED TABLE EDGE. THE INSURED IS COVERED UNDER COVERAGE E
Definition
True
Term
T or F-THE INSURED SLAMS INTO A SKIER AFTER LOSING CONTROL OF THEIR SNOWBOARD AND BREAKS THE SKIERS EXPENSIVE POLES. THE INSURED IS NOT COVERED UNDER COVERAGE E
Definition
False
Term
T or F-WHILE MOWING THE LAWN, THE INSURED'S GARDENER KICKS A ROCK INTO THE NEIGHBOR'S WINDOW, BUT ITS OK BECAUSE THE INSURED IS COVERED UNDER COVERAGE E
Definition
True
Term
T or F-VACANT LAND AND CEMETERY PLOTS ARE COVERED UNDER COVERAGE E
Definition
True
Term
COVERAGE F
Definition
Medical payments to others
Term
MEDICAL PAYMENTS TO OTHERS
Definition
Coverage F-Coverage that pays the medical bills incurred by others in an accident
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