Auto Chapter 8

Question 1

Endorsements

Answer 1

attachments to a policy which vary the terms of the contract; can broaden, restrict or alter

Question 2

Endorsement forms must be approved by whom

Answer 2

the provincial superintendent of insurance

Question 3

OPCF 2 Drive Other Automobiles

Answer 3

expands definition of insured person for use of other autos

Question 4

OPCF 3: Government Owned Vehicles

Answer 4

insured for a driver when driving government vehicle

Question 5

OPCF 4: Permission

Answer 5

allows you to carry explosives

Question 6

OPCF 5: Rented or Leased Automobiles

Answer 6

for coverage for an auto that is rented or leased

Question 7

OPCF 6: Passenger Risks

Answer 7

extends coverage to carry passengers for compensation; taxis, school bus, carpools

Question 8

OPCF 13: Restricting Glass coverage

Answer 8

Limits glass coverage to exclude gravel and stones

Question 9

OPCF 16 and 17; Suspension and reinstatement of coverage

Answer 9

to remove coverage temporarily for not using. what remains is; liabilities, operation of other vehicles, and accident benefits.

Question 10

CPCF 19: Amount Paid

Answer 10

limits settlement of automobile to the lower of ACV and rating values. 19a Valued auto endorsement can increase the amount of the higher appraisal and pay a higher premium

Question 11

OPCF 20: Coverage for Transportation Replacement

Answer 11

removes 72 hour waiting period and increases limit for replacement period

Question 12

OPCF 23: Mortgagee and Lienholders

Answer 12

protects interest of lien holder, loss payable to both the mortgagee and insured

Question 13

OPCF 25A: Alteration

Answer 13

used to amend, add, delete, or restrict coverage on policy. such as; change name, adding automobile, changing limits…

Question 14

CPCF 27 series: Liability for damage to non-owned vehicles, and providing other coverages when insured persons drive other automobiles.

Answer 14

providing insurance to rent or lease , or for business

Question 15

CPCF 28 and 19: Excluding, reducing, or increasing coverage for named persons

Answer 15

example to exclude a certain driver, to safe money if they are not going to be driving it.

Question 16

OPCF 32: Motorized Recreational Vehicles

Answer 16

allows unlicensed persons to drive these off public roads

Question 17

OPCF 35: Coverage for emergency road service

Answer 17

to get you off the road, but does not cover any materials or parts the may be needed to be fixed.

Question 18

OPCF 43: Removing Deprecation deduction

Answer 18

for newer cars,

Question 19

OPCF 44: Family Protection

Answer 19

covers the difference when third party’s insurance is inadequate

Question 20

OPCF 47: Agreement Not to rely on SHBS

Answer 20

entitled to receive optional statutory accident benefits.