Pa Property And Casualty Insurance Test Questions And Ans

An insured has a personal property replacement cost endorsement under her homeowners policy. If an expensive painting and an antique chair are stolen from the insured's home, what will the insured receive on the claim under that endorsement? {Ans: Nothing}What is not a consideration when paying an inland marine claim? {Ans: Market value when the property was first purchased}One of the primary benefits to the insured in selecting the "full tort option" under their auto insurance coverage is {Ans: Unrestricted ability to sue for pain and suffering.}Coverage J under farm coverage agrees to pay reasonable medical expenses, regardless of fault, caused by an accident if the expenses are incurred and reported to the insurer within how many years of the accident date? {Ans: 3 years}Under the "limited tort insurance" option, an insured may not seek recovery for pain and suffering or other nonmonetary damages UNLESS {Ans: The injuries fall within the definition of "serious injury."}The cost of restoring farm records is an additional coverage offered under a farm policy. How much will the policy pay to restore the records? {Ans: Up to $2,000}A common exclusion found under physical damage to your auto includes