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[h] CPCU 553 – Module 2
[q] Miscellaneous Type Vehicle endorsement
[a] An endorsement added to a Personal Auto Policy that covers motor homes, motorcycles, all-terrain vehicles, dune buggies, golf carts, and other vehicles with fewer than four wheels. The endorsement also covers other vehicles designed for use off public roads.
[q] Miscellaneous Type Vehicle endorsement exclusions
[a] Exclusions:
Clothing or luggage.
Business equipment.
Sales samples.
Articles used in exhibitions.
Loss due to mold.
[q] Miscellaneous Type Vehicle endorsement coverage limit
[a] Amount paid is the least of:
Stated amount shown in the schedule.
Actual cash value of the property.
Amount necessary to repair or replace the property.
[q] Snowmobile endorsement
[a] An endorsement added to a Personal Auto Policy that covers land motor vehicles propelled solely by wheels, crawler-type treads, belts, or similar mechanical devices and designed for use mainly off public roads on snow or ice.
[q] Snowmobile endorsement exclusions
[a] Exclusions:
Snowmobile used in any business.
Snowmobile used in a race.
Persons other than the named insured renting or leasing a snowmobile.
[q] Excess Electronic Equipment Coverage endorsement
[a] An endorsement added to a Personal Auto Policy that can be used to increase the limit on electronic equipment. An unendorsed Personal Auto Policy only covers certain equipment up to $1,000.
[q] Coverage for Damage to Your Auto (Maximum Limit of Liability) endorsement
[a] An endorsement added to a Personal Auto Policy that allows owners of antique cars cars to establish the car’s insurable value when the policy is written.
[q] Coverage for Damage to Your Auto (Maximum Limit of Liability) limit of liability
[a] Least of:
The stated amount shown in the schedule.
The actual cash value of the car.
The amount necessary to repair or replace the property with other property of like kind.
[q] Trailer/Camper Body Coverage endorsement
[a] An endorsement added to a Personal Auto Policy that extends coverage to direct or accidental loss to a trailer or camper body. Also covers cooking equipment, plumbing, and refrigeration facilities.
[q] Trailer/Camper Body Coverage endorsement exclusions
[a] Exclusions:
Loss due to mold or mildew.
Loss to clothing, luggage, or business equipment.
[q] Extended Non-Owned Coverage-Vehicles Furnished or Available for Regular Use endorsement
[a] An endorsement added to a Personal Auto Policy that provides liability and medical payments coverage for insureds when they are driving non-owned autos that have been made available for their regular use.
[q] Named Non-Owner Coverage endorsement
[a] An endorsement added to a Personal Auto Policy that provides coverage for an individual who does not own an auto and occasionally drives another person’s vehicle or a rental vehicle. Provides liability, medical payments, uninsured and underinsured, and physical damage coverages.
[q] Auto Loan/Lease Coverage endorsement
[a] An endorsement added to a Personal Auto Policy, Part D – Physical Damage. Applies when an insured has an outstanding loan for a vehicle or leases a vehicle that suffered a total loss. If the auto sustains a total loss, any unpaid amount due on the vehicle lease or loan is covered.
[q] Auto Loan/Lease Coverage endorsement exclusions
[a] Excluded from coverage:
Past due loan payments.
Lease penalties for excessive use.
Balances transferred from previous loans.
Costs for extended warranties.
[q] Optional Limits Transportation Expenses Coverage endorsement
[a] An endorsement added to a Personal Auto Policy that allows the insured to increase coverage for temporary transportation expenses following a loss.
[q] Limited Mexico Coverage endorsement
[a] An endorsement added to a Personal Auto Policy that covers accidents in Mexico within 25 miles of the United States border. Primary liability insurance still must be purchased from a licensed Mexican insurer.
[q] Towing and Labor Costs Coverage endorsement
[a] An endorsement added to a Personal Auto Policy that covers the costs of towing an auto when it is disabled. Also covers the cost of labor performed to repair the auto at the place of disablement.
[q] Transportation network company
[a] An organization that uses an app or website to connect drivers with passengers.
[q] Limited Transportation Network Driver Coverage (No Passenger) endorsement
[a] An endorsement added to a Personal Auto Policy that provides coverage while a transportation network driver is logged in to the network. Under this endorsement, the coverage ends when a driver accepts a passenger.
[q] Transportation Network Driver Coverage (No Passenger) endorsement
[a] An endorsement added to a Personal Auto Policy that provides coverage while a transportation network driver is logged in to the network and also when the driver is picking up a passenger. Under this endorsement, the coverage ends when a passenger enters the transportation network driver’s auto.
[q] Underinsured motorists (UIM) coverage
[a] Auto coverage that applies when a negligent driver has liability insurance but the limits of that insurance are lower than those of the injured person’s coverage.
[q] Limits trigger
[a] A coverage trigger under an underinsured motorists (UIM) coverage endorsement that causes the endorsement to apply when a negligent driver carries liability limits below the limits provided by the UIM coverage of the injured party.
[q] Damages trigger
[a] A coverage trigger under an underinsured motorists (UIM) coverage endorsement that causes the endorsement to apply when a negligent driver carries liability limits below the injured party’s actual damages.
[q] Stacking
[a] An underinsured motorists (UIM) coverage variation that involves the application of two or more auto policy limits to a single auto accident.
[q] Interpolicy stacking
[a] A type of stacking that involves two or more separate policies. The underinsured motorist policy limit of one policy can be added to the UIM limit of the others.
[q] Intrapolicy stacking
[a] A type of stacking that involves a single policy that covers more than one vehicle. The underinsured motorist (UIM) limit applicable to one vehicle can be added to the UIM limit applicable to another vehicle on the same policy.
[q] Miscellaneous Type Vehicle endorsement
[a] An endorsement to the Personal Auto Policy that provides liability, medical, uninsured motorist, and property damage coverage. Coverage is provided for vehicles such as motor homes, motorcycles, and dirt bikes.
[q] Trailer/Camper Body Coverage endorsement
[a] An endorsement added to a Personal Auto Policy that extends coverage to direct or accidental loss to a trailer or camper body. Also covers cooking equipment, plumbing, and refrigeration facilities.
[q] Lay-up provisoin
[a] A common provision that suspends certain coverages on recreational vehicles and watercraft for a specified period of time when they are in storage.
[q] Owned Motorized Golf Cart Physical Loss Coverage endorsement
[a] An endorsement to a homeowners policy that provides coverage for property damage to a golf cart.
[q] Incidental Low Power Recreational Motor Vehicle endorsement
[a] An endorsement to a homeowners policy that is used to extend the policy’s liability and medical payments coverage to vehicles that do not travel more than 15 miles per hour.
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