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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?
- Section I - Property Coverages
- Section IV - Conditions
- Section III - Additional Coverages
- Section II - Liability Coverages (correct)
What does Section II of the HO-3 policy cover?
What does Section II of the HO-3 policy cover?
- Losses related to an insured's personal activities only
- Losses related to an insured's residence employees only
- Losses related to an insured's premises, personal activities, and other incidental sources of personal liability (correct)
- Losses related to an insured's premises only
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?
- 1
- 2 (correct)
- 4
- 3
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?
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?
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?
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)?
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?
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)?
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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