Ga Property Casualty Insurance Study

Ga Property & Casualty Insurance Study Guide Solved Papers - Questions with Complete Solutions Personal Automobile Policy - Correct Answers ✅• Accounts for 40% of all premiums • Vehicles registered to individuals and operated primarily for personal activities

• Driving to work is a personal activity
• Policy allows use of vehicle for incidental business activities

Financial Responsibility State - Correct Answers ✅• Georgia is a financial responsibility state

• To legally operate an automobile in the state of Georgia, a

person must show that they are able to financially compensate the person(s) that they may injure or where they damage the other person's property Financial Responsibility - Correct Answers ✅may be show

by the following:

• Personal automobile insurance - Liability coverage
• Motor vehicle bond

3.Cash or security deposit Compulsory Insurance Laws - Correct Answers ✅25/50/25 state minimum limits (split) $25,000 bodily injury per person $50,000 bodily injury per occurrence 1 / 3

Ga Property & Casualty Insurance Study Guide Solved Papers - Questions with Complete Solutions $25,000 property damage Or $75,000 - Combined single limits Policy Terms - Correct Answers ✅either 6 months or 1 year Personal umbrella - Correct Answers ✅separate policy for catastrophic liability claims, in excess of primary coverage; must have primary coverage in force and raise the limits of liability Eligible Vehicles - Correct Answers ✅o Private passenger automobiles

• Trucks <10,000 lbs.
• Vans <10,000 lbs.

Owned or Leased No business activities covered for trucks and vans GA Assigned Risk - Correct Answers ✅when someone cannot qualify for insurance, high premium Ineligible Vehicles - Correct Answers ✅o Vehicles owned by businesses 2 / 3

Ga Property & Casualty Insurance Study Guide Solved Papers - Questions with Complete Solutions

• Taxis
• Motorcycles
• Trucks/Vans >10,000 lbs.
• Vehicles used for government purposes
• Vehicles furnished for the regular use of an insured by an

employer

• Trailer - cannot propel itself when the trailer and the vehicle

are connected, both are one in the same for liability claims Territorial Limits - Correct Answers ✅o United States

• Canada
• United States Territories & Possessions

Puerto Rico Guam United States Virgin Islands American Samoa

• Coverage will not transfer to Mexico, can be purchased on a

daily basis Insured - Correct Answers ✅-Named Insured -Spouse, residing in household (automatically insured, even if not listed)

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