风险管理与保险原理 课后题答案part13.docVIP

PAGE 1 PAGE 46 Chapter 13: Risk Management for Auto Owners—Part I PAGE PAGE 44 CHAPTER 13 Risk Management for Auto Owners—Part I THE HIGH COST OF AUTOMOBILE LOSSES INSURANCE CLAIMS THE NEED FOR INSURANCE PERSONAL AUTOMOBILE POLICY Eligibility Definitions PERSONAL AUTOMOBILE POLICY COMPONENTS Liability Supplementary Benefits Limit of Liability Exclusions Other Liability Conditions Medical Payments Exclusions Other Conditions Uninsured Motorist Uninsured Motor Vehicles Exclusions Other Conditions Physical Damage to Autos Exclusions Transportation and Towing Other Provisions Duties after an Accident or Loss General Provisions Policy Cancellation Provisions Endorsements to the PAP Motorcycles and Other Vehicles Snowmobiles Auto Loan/Lease Coverage AUTOMOBILE INSURANCE AND THE LAW Financial Responsibility Laws Compulsory Insurance Laws Unsatisfied Judgment Fund Uninsured-Underinsured Motorist Coverage RISK MANAGEMENT AND PERSONAL AUTOMOBILE RATING Rating Factors Deductibles for Damage to Your Auto The Youthful Driver Dilemma Selection of Liability Limits KEY TERMS AND CONCEPTS Collision Covered auto Family member Financial responsibility laws Losses other than collision Medical payments No-fault Nonowned auto Nonstandard risk Occupying Personal automobile policy (PAP) Security provisions Trailer Underinsured motorists endorsement Uninsured motorist coverage Uninsured motor vehicle Unsatisfied judgment fund (UJF) Youthful driver ANSWERS TO QUESTIONS FOR REVIEW AND DISCUSSION 1. Coverage exists on the basis that the son’s car is a temporary, substitute automobile. 2. Most likely coverage will exist because one can assume that permission was given. 3. a. The liability of $2,000 is covered, but the physical damage of $1,000 is not covered. The definition of a trailer for liability differs from the definition given in the physical damage section. b. If the trailer were just a utility trailer, the physical damage woul