Insuring Personal
Auto Exposures

RESOURCES

NEW Study Guide

This Study Guide has been prepared to enhance your learning experience. It contains all of the Check-In questions, Knowledge Checks, and Self-Quizzes contained within the course, along with an Answer Key and Glossary. Use it as a tool to help practice and assess your knowledge of the course material, but do not mistake it for a comprehensive “short- cut” to preparing for the final exam.

Be sure to take a look at the section, “Appendix,” that follows the Answer Key in this Study Guide. It contains valuable suggestions for test preparation and study techniques, as well as some sample exam questions and a glossary of terms.

Your path to success in passing the final exam will come from your attentiveness during the course and the effort you put into preparation.

Section 1 – Introduction to the Personal Auto Policy

Eligibility vs. Coverage

This video discusses the importance of knowing the difference between eligibility for an ISO Personal Auto Policy and applicable coverage at the time of a loss. 

What is a Vehicle?

This video details what may be considered a motor vehicle. 

Reading a Policy with Endorsements

This video discusses the fluidity of reading a Personal Auto Policy with endorsements. 

Section 2 – Personal Auto Policy and Liability Coverage

Financial Responsibility Requirements by State

Produced by the Insurance Information Institute

This document is a summary of the financial responsibility requirements for each state.

Contract of Utmost Good Faith

This video explains the importance of trust between the insurance company and the policyholder. 

PAP – Who is a “Family Member”?

This video summarizes who may be considered a family member” as defined in the ISO Personal Auto Policy. Comprehension is necessary to understand coverage and exclusions within the policy. 

“Your Covered Auto”

This video discusses the definition of “your covered auto” and explains which vehicles will receive coverage from the ISO Personal Auto Policy.  

“Newly Acquired Auto”

This video delivers details on which vehicles qualify for the automatic coverage provided by the ISO Personal Auto Policy and when it applies to vehicles that are newly purchased or obtained. 

How much liability coverage should I have?

This video discusses how to help personal auto clients decide how much Liability Coverage they should purchase. 

PAP – Liability Coverage – Who is an “Insured”?

This video discusses the definition “insured” to understand who gets the benefit of protection under Liability Coverage provided by the ISO Personal Auto Policy. 

PAP – Liability Coverage – Reasons for Exclusions

This video explores common reasons for Liability exclusions found in the ISO Personal Auto Policy. 

Out of State Coverage

This video provides information on how the Personal Auto Policy adjusts to financial responsibility and other compulsory laws when clients travel within covered territories. 

Section 3 – Medical Payments and/or Personal Injury Protection

PAP – Med Pay and/or PIP Coverage

This video highlights coverage details and differences between Medical Payments Coverage and Personal Injury Protection offered in the ISO Personal Auto Program.  

Section 4 – Uninsured and/or Underinsured Motorists Coverage

Financial Responsibility Requirements by State

Produced by the Insurance Information Institute

This document is a summary of the financial responsibility requirements for each state.

Compensatory Damages

Property & Casualty Insurance Essentials ©2016 The National Alliance Research Academy

This document explains the objective of compensatory damages.

Uninsured and Underinsured Motorists Coverage

This video explores the importance and purpose of Uninsured Motorists Coverage provided by the ISO Personal Auto Policy and Underinsured Motorists Coverage, when purchased. 

Section 5 – Coverage for Damage to Your Auto

Actual Cash Value – Glossary

In this video, listen to Academic Director, Paul Martin, discuss the meaning of actual cash value.

"Collision" and Other Than "Collision"

This video discusses the coverage differences between “Collision” and Other Than “Collision” coverage provided by the ISO Personal Auto Policy. 

Exclusions: Coverage for Damage to Your Auto

This video outlines common coverage exclusions for damage to covered autos insured by the ISO Personal Auto Policy. 

Section 6 – Coverage for a Rented Vehicle

Coverage for Rental Vehicles

This video discusses the financial exposure personal auto clients face when renting a vehicle and how to help clients understand their Personal Auto Policy coverage as well as identify other coverage options available to minimize their risk. 

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