🚚 Module 12 & 13 - Commercial Auto

Question 1

CA/CAP

Answer 1

Commercial Auto/Commercial Auto Policy

Question 2

PIP

Answer 2

Personal Injury Protection

Covers injuries to occupants of insured’s vehicle in states subject to no-fault laws

Question 3

UM/UIM

Answer 3

Uninsured/Underinsured Motorists

Covers injuries to insured when hit by an at-fault party who is not insured or does not have enough insurance to pay

Question 4

Comp or OTC

Answer 4

Comprehensive/Other Than Collision

Covers vehicle PD caused by perils other than collision

Question 5

Coll

Answer 5

Collision

Covers vehicle PD caused by collision with other vehicles or objects

Question 6

Symbol 1

Answer 6

Any Auto

• Liability coverage only
• Any auto used for business

Question 7

Symbol 2

Answer 7

Owned Autos Only

• ONLY covers autos owned by business
• For liability, covers trailers attached to owned autos

Question 8

Symbol 3

Answer 8

Owned PPT only

• Private Passenger Type vehicles owned by business ONLY

Question 9

PPT

Answer 9

Private Passenger Type vehicle

Question 10

Symbol 4

Answer 10

Owned Autos Other Than PPT

Question 11

Symbol 5

Answer 11

Owned Autos Subject to No-Fault (per state law)

Question 12

Symbol 6

Answer 12

Owned Autos Subject to Compulsory UM Laws

Owned vehicles that cannot reject Uninsured Motorist Coverage

Question 13

Symbol 7

Answer 13

Specifically Described Autos

• Scheduled vehicles only
• Very restrictive

Question 14

Symbol 8

Answer 14

Hired Autos

• Rental/leased vehicles
• Hired vehicles
• Borrowed vehicles

Question 15

Symbol 9

Answer 15

Non-Owned Autos

Vehicles not owned by business, but used for business

Example-employees personal vehicles used for business

Question 16

Rental Re

Answer 16

Rental Reimbursement

Pays for rental car for temporary loss of use of insured vehicle

Question 17

DOC

Answer 17

Drive Other Car Coverage

Covers individual named on endorsement plus spouse and any other scheduled person for use of non owned car in the absence of a PAP

Question 18

PAP

Answer 18

Personal Auto Policy

Question 19

HPD

Answer 19

Hired Car Physical Damage

Question 20

Phys Dam

Answer 20

Physical Damage

Question 21

Comp & Coll

Answer 21

Comprehensive & Collision coverage

Question 22

SYM

Answer 22

Auto Symbols

Numbered system that triggers coverage

Question 23

6 Main Coverages in Commercial Auto Policy

Answer 23

• Liability
• PIP
• MedPay
• UM/UIM
• Comp
• Coll

Question 24

4 Steps To Design Proper CA Policy

Answer 24

• Determine proper named and additional insured(s)
• Establish and classify all autos
• Ascertian proper liability and vehicle coverage(s)
• Develop proper triggers

Question 25

6 Key Auto Endorsements

Answer 25

* Towing & Labor * Rental Re * DOC * HPD * Comp Fleet * Valuation

Question 26

OCN

Answer 26

**Original Cost New**

Question 27

Stated

Answer 27

Agreed upon value for high valued vehicles

Question 28

Symbol 19

Answer 28

**Mobile Equipment Subject to Compulsory Motor Vehicle Law** * Designed for mobile equipment licensed for highway use * Tip-See if carrier will use old (2004) CGL form

Question 29

MCS-90

Answer 29

A required endorsement to the BAP for hazardous material/waste transporters

Question 30

4 Factors Classifying Comp/Collision

Answer 30

* OCN * Garaging Location * Age of Vehicle * Use of Vehicle

Question 31

3 Primary Rating Factors in Liability

Answer 31

* GVW * Use * Radius

Question 32

GVW

Answer 32

**Gross Vehicle Weight** 0 = Light -------------------- Up to 0-10,000 2 = Medium --------------- 10,001-20,000 3 = Heavy ------------------- 20,001- 45,000 4 = Extra Heavy ----------- Over 45,000 5 = Extra Heavy TT ------- Over 45K (Tractor Trailer)

Question 33

Use

Answer 33

**Business Use** 1= Service - To job and parked most of day 2= Retail - House to house with short stops 3 = Commercial-Transporting owned or others goods

Question 34

Radius

Answer 34

Straight Line from principal garage to farthest point (frequently) 4 = 0-50 miles 5 = 51-200 miles 6 = Over 200 miles

Question 35

CDL

Answer 35

Commercial Driver's License

Question 36

CSL

Answer 36

Combined Single Limit auto policies do not have "aggregate" limits

Question 37

Interest

Answer 37

**Insurable Interest** Ownership or lessee interest in auto

Question 38

Monoline

Answer 38

Single policy

Question 39

VIN

Answer 39

**Vehicle Identification Number**

Question 40

DOT

Answer 40

**Department of Transportation**