Personal Auto Policy第 409 / 474 题
Actual cash value, the measure used to settle a physical damage loss, is:
a.The dealer's advertised asking price for a like model
b.Replacement cost at the time of loss, less depreciation
c.The price the insured paid for the auto when new
d.The amount still owed to the lender on the auto loan
解析
Actual cash value is what it would cost to replace the auto today, reduced by depreciation for age, mileage and condition, and it caps what Part D pays. The loan balance is a debt between borrower and lender and measures nothing about the car, which is why gap coverage exists. Using the original purchase price ignores years of depreciation.
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同考点相关题目
- Repairing the insured's car after an at-fault collision would cost $9,400, but the car's actual cash value is $8,000. With a $500 collision deductible, the insurer pays:
- In one policy year an insured has a $2,000 hail loss and, four months later, a $3,000 collision loss. Deductibles are $250 other than collision and $500 collision. The insurer pays in total:
- The insured's car is stolen and never recovered. Its actual cash value at the time of the theft is $14,000 and the other-than-collision deductible is $250. The insurer pays:
- A car is stolen and recovered three days later with $4,300 in damage. The policy shows a $100 other-than-collision deductible and a $1,000 collision deductible. The insurer pays:
- On the standard personal auto form, transportation expenses after a covered physical damage loss are limited to:
- An insured's covered auto is stolen and returned to use 22 days later. On the standard form, transportation expense coverage pays:
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