Podcast
Questions and Answers
Which section of the HO-3 policy provides coverage for an insured's third-party loss exposures?
Which section of the HO-3 policy provides coverage for an insured's third-party loss exposures?
What does Section II of the HO-3 policy cover?
What does Section II of the HO-3 policy cover?
How many primary coverages are provided in Section II of the HO-3 policy?
How many primary coverages are provided in Section II of the HO-3 policy?
What is the coverage provided by Coverage E in Section II of the HO-3 policy?
What is the coverage provided by Coverage E in Section II of the HO-3 policy?
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What is the coverage provided by Coverage F in Section II of the HO-3 policy?
What is the coverage provided by Coverage F in Section II of the HO-3 policy?
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Which coverage pays for direct loss to any covered or non-owned auto less deductible?
Which coverage pays for direct loss to any covered or non-owned auto less deductible?
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Which type of loss is covered by collision coverage in the Personal Auto Policy (PAP)?
Which type of loss is covered by collision coverage in the Personal Auto Policy (PAP)?
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When does the insurer pay for a collision loss in the Personal Auto Policy (PAP) regardless of fault?
When does the insurer pay for a collision loss in the Personal Auto Policy (PAP) regardless of fault?
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Why do motorists purchase non-collision insurance instead of collision insurance in the Personal Auto Policy (PAP)?
Why do motorists purchase non-collision insurance instead of collision insurance in the Personal Auto Policy (PAP)?
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How many coverages are available for physical damage in the Personal Auto Policy (PAP)?
How many coverages are available for physical damage in the Personal Auto Policy (PAP)?
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Study Notes
HO-3 Policy Coverage Overview
- Section II of the HO-3 policy addresses third-party liability for loss exposures.
- Coverage provided in Section II includes personal liability and medical payments.
- There are two primary coverages in Section II: Coverage E (Personal Liability) and Coverage F (Medical Payments).
Coverage Details in Section II
- Coverage E: Offers protection against claims for bodily injury and property damage caused by the insured’s actions.
- Coverage F: Provides medical payments for medical expenses of guests injured on the insured property, regardless of fault.
Personal Auto Policy (PAP) Coverage
- Coverage that pays for direct loss to any covered or non-owned auto is for physical damage minus the deductible.
- Collision coverage in the PAP covers damage to the vehicle resulting from an accident with another vehicle or object.
- Insurers pay for a collision loss in the PAP regardless of fault when the insured is involved in an accident with an uninsured motorist.
Insurance Choices and Physical Damage
- Motorists may choose non-collision insurance over collision insurance due to lower premiums or specific coverage needs.
- There are four coverages available for physical damage in the Personal Auto Policy (PAP).
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Description
Test your knowledge on homeowners liability coverage with this quiz. Learn about the objective of Chapter 6, the different sections of HO-3 coverage, and important conditions and exclusions.
