Podcast
Questions and Answers
Which of the following provinces allows the purchase of optional physical damage insurance through a private insurer?
Which of the following provinces allows the purchase of optional physical damage insurance through a private insurer?
Which endorsement allows an automobile to carry explosives?
Which endorsement allows an automobile to carry explosives?
All provinces in Canada require mandatory accident benefits insurance.
All provinces in Canada require mandatory accident benefits insurance.
False
The S.E.F.No. 6b endorsement allows for passenger transport for compensation only in private transport settings.
The S.E.F.No. 6b endorsement allows for passenger transport for compensation only in private transport settings.
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What is the minimum third party liability required by common law provinces?
What is the minimum third party liability required by common law provinces?
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What is the definition of a 'livery' vehicle?
What is the definition of a 'livery' vehicle?
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In Quebec, motorists must purchase _____ coverage through the Provincial Government compensation plan.
In Quebec, motorists must purchase _____ coverage through the Provincial Government compensation plan.
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The endorsement that allows carrying radioactive material is called _____.
The endorsement that allows carrying radioactive material is called _____.
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Which of the following is NOT considered carrying passengers for compensation under the exclusions?
Which of the following is NOT considered carrying passengers for compensation under the exclusions?
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Which type of coverage pays for damages regardless of fault?
Which type of coverage pays for damages regardless of fault?
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The S.E.F. No. 44 Family Protection Endorsement increases the legal liability limits to match those of the insured's personal policy.
The S.E.F. No. 44 Family Protection Endorsement increases the legal liability limits to match those of the insured's personal policy.
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Physical damage options include _____, Collision or Upset, and Comprehensive.
Physical damage options include _____, Collision or Upset, and Comprehensive.
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Public omnibus includes vehicles that serve multiple purposes.
Public omnibus includes vehicles that serve multiple purposes.
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What does the S.E.F.No. 6b endorsement specifically relate to?
What does the S.E.F.No. 6b endorsement specifically relate to?
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Which section provides benefits for medical expenses regardless of fault?
Which section provides benefits for medical expenses regardless of fault?
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Surcharge applies only to service vehicles.
Surcharge applies only to service vehicles.
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What are the four coverage options available under Section C?
What are the four coverage options available under Section C?
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The _____ Protection Endorsement provides additional benefits against uninsured motorists.
The _____ Protection Endorsement provides additional benefits against uninsured motorists.
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What is the primary basis for rating Collision or Upset coverage?
What is the primary basis for rating Collision or Upset coverage?
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Coverage under Section B includes funeral costs for all provinces in Canada.
Coverage under Section B includes funeral costs for all provinces in Canada.
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If insured does not report monthly, the insurer is not liable for more than _____ of the limit of liability.
If insured does not report monthly, the insurer is not liable for more than _____ of the limit of liability.
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Which coverage begins immediately when damage to a vehicle renders it unusable?
Which coverage begins immediately when damage to a vehicle renders it unusable?
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Coverage under the S.E.F.No. 5c extends to lessors for rented automobiles for periods longer than 30 days.
Coverage under the S.E.F.No. 5c extends to lessors for rented automobiles for periods longer than 30 days.
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What policy indemnifies the lessor for losses due to the lessee's failure to maintain required insurance?
What policy indemnifies the lessor for losses due to the lessee's failure to maintain required insurance?
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The coverage that limits liability to the insured and spouse is the ______.
The coverage that limits liability to the insured and spouse is the ______.
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Which of the following statements about S.P.F.No. 5d Conversion Coverage Endorsement is correct?
Which of the following statements about S.P.F.No. 5d Conversion Coverage Endorsement is correct?
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Coverage is unlimited under S.E.F.No. 27 for rented automobiles.
Coverage is unlimited under S.E.F.No. 27 for rented automobiles.
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What endorsement is used for covering rental automobiles in the name of an individual?
What endorsement is used for covering rental automobiles in the name of an individual?
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What does the S.E.F.No. 75 endorsement cover?
What does the S.E.F.No. 75 endorsement cover?
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The S.E.F.No. 77 endorsement covers theft of contents from customer automobiles.
The S.E.F.No. 77 endorsement covers theft of contents from customer automobiles.
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What is the primary purpose of the S.P.F.No. 4 Standard Garage Automobile Policy?
What is the primary purpose of the S.P.F.No. 4 Standard Garage Automobile Policy?
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The S.E.F.No. 77 endorsement addresses __________ for comprehensive damage to customer’s automobiles.
The S.E.F.No. 77 endorsement addresses __________ for comprehensive damage to customer’s automobiles.
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Study Notes
Exclusions and Endorsements
- Exclusion for automobile use includes carrying explosives or radioactive materials, but can be covered with endorsements S.E.F.No. 4a and S.E.F.No. 4b.
- Vehicles used as taxicabs, public omnibuses, or for passenger compensation are excluded but may be covered by endorsements S.E.F.No. 6a, S.E.F.No. 6b, and S.E.F.No. 6c.
- Common definitions include:
- Public Omnibus: A bus serving multiple purposes, like transporting people and freight.
- Livery: Vehicle rented to others.
- Jitney: A bus or similar vehicle, often for sightseeing.
Vehicle Use Clarifications
- Exceptions to passenger compensation exclusion include:
- Carriage of another insured for reciprocal trips.
- Occasional shared rides with cost-sharing.
- Transportation of a domestic servant.
- Accommodating clients or prospective clients.
- Transporting children for educational activities.
Provincial Insurance Variations
- In British Columbia and Saskatchewan, optional physical damage coverage can be purchased for increased liability limits, accident benefits, and lower deductibles.
- Quebec mandates personal injury coverage through a government compensation plan, with a minimum of $50,000.
Types of Automobiles Insured
- Private passenger vehicles, including those used for business.
- Commercial vehicles for transporting goods.
- Public automobiles like buses and taxis, which have higher liability coverage due to greater exposure.
Summary of Coverages
- Third Party Liability: Minimum of $200,000 required, covering damages to third parties. S.E.F.No. 44 adds protection against underinsured/uninsured motorists.
- Accident Benefits: Compulsory in most provinces, covering medical expenses, rehabilitation, funeral costs, and loss of income regardless of fault.
- Physical Damage options: Include All Perils, Collision, Comprehensive, and Specified Perils, with 25−25-25−30/day coverage for loss of use for up to 30 days.
Rented or Leased Automobiles
- Short-term rentals (30 days or less): Covered by S.E.F.No. 5c, extending policy coverage.
- Long-term rentals (>30 days): Covered by S.E.F.No. 5, granting permission for long-term contracts.
- Coverage for lessees may include S.E.F.No. 27 for legal liability related to non-owned automobiles, restricted to the insured and spouse.
Optional Coverages
- Outline various policies available for leasing scenarios, covering losses due to the lessee's failure to maintain insurance or due to dishonest acts.
Rating and Premiums
- Premiums for garage policies are determined based on the nature of vehicle use, such as customer automobiles and owned vehicles.
- Different sections within the S.P.F.No. 4 Garage Automobile Policy delineate coverage for owned vehicles held for sale, damage to staff-operated vehicles, and physical damage options.
Additional Endorsements
- Various endorsements enhance coverage, including S.E.F.No. 44 for family protection and S.E.F.No. 77 for comprehensive damage to customer automobiles.
Key Terms and Assignment
- No specific key terms listed; refer to IGO assignment for detailed understanding.
- Ensure comprehension of the five insuring agreements under S.P.F.No. 4 Standard Garage Automobile Policy for the assignment.
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Description
This quiz focuses on understanding specific exclusions in insurance coverage, particularly related to the use of automobiles for carrying explosives and radioactive materials. Participants will explore various endorsements that provide coverage in these scenarios. Test your knowledge on these crucial aspects of insurance policies!
