Transportation Risk Management (CH.8)

------------------------- is a contract between the insured and the insurance company that protects the insured against financial loss in the event of an accident or theft for cars.

• Auto Insurance

• Aviation insurance

• Marine insurance

• Life insurance

What type of coverage does auto insurance provide for damage to or theft of your car?

• Liability

• Medical

• Property

• Funeral expenses

Medical coverage in auto insurance helps with:

• Damage to your car

• Rehabilitation and funeral expenses

• Theft of property

• Legal claims against you

What does liability insurance cover in auto insurance?

• Theft of your vehicle

• Damage to your car

• Your legal responsibility for bodily injury or property damage to others

• Cost of fuel

Auto insurance coverage for property is meant to cover:

• Legal fees for lawsuits

• Funeral expenses

• Damage to or theft of your car

• Medical bills for injuries you cause to others

Auto insurance coverage for medical is meant to cover:

• Legal fees for lawsuits

• The cost of treating injuries and rehabilitation

• Damage to or theft of your car

• Cost of fuel

What does 'Third party only' insurance cover?

• Accidental loss of your vehicle

• Damage to your own vehicle

• Death or injury to a third party and damage to third-party property

• Both damage to your vehicle and third-party property

Comprehensive insurance provides coverage for:

• Only third-party injury or property damage

• Both third-party and your own vehicle's damage or loss

• Legal fees related to traffic violations

• Only theft of your car

Which of the following coverages is specifically meant to provide benefits in case of injury or death from a car accident?

• Coverage for Rented Vehicles

• Miscellaneous Type Vehicle Coverage

• Death Indemnity, Specific Disability and Total Disability Benefits Coverage

• Comprehensive Coverage

What kind of vehicles are covered under the 'Miscellaneous (Diverse) Type Vehicle' endorsement?

• Rental cars

• Golf carts and motorcycles

• Heavy trucks

• Bicycles