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Fundamentals of Risk and Insurance, 11th Edition by Therese M. Vaughan, Emmett J. Vaughan

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CHAPTER OBJECTIVES

When you have finished this chapter, you should be able to

  • Determine if an automobile is eligible for coverage under the Personal Auto Policy (PAP)
  • Identify and explain the four coverage sections of the PAP
  • Describe the coverage features of the PAP liability coverage, including the persons and automobiles for which coverage is provided
  • Describe the scope of coverage under the medical payments coverage of the PAP, including the persons to whom the coverage is applicable
  • Describe the scope of coverage under the uninsured motorists coverage of the PAP, including the persons to whom the coverage is applicable
  • Describe the scope of coverage under the Damage to Your Auto coverage of the PAP
  • Identify and explain the Duties after Loss and general provisions of the PAP

In this chapter, we continue our study of automobile insurance, turning now to an examination of one of the contracts under which auto insurance is provided, the Insurance Services Office (ISO) Personal Auto Policy (PAP). The PAP is only one of several auto forms in use. Some insurers have developed their own contracts, which differ in detail from the ISO form. Still, the PAP is the most widely sold of the various auto insurance forms and serves as a standard against which other policy forms may be compared.

GENERAL NATURE OF THE PERSONAL AUTO POLICY

The Personal Automobile Policy (PAP) was introduced ...

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