You may have a lot of questions about what is covered and what is not on your insurance policies. Your personal and/or business policies can certainly cover many issues that could arise, but there are some that they won’t. Here is a test to see if you know what coverage you actually have and what coverage you may want to look into for your family or business.
1. Which of the following is not automatically included in your Texas or Colorado homeowner’s insurance policy?
A. Personal property coverage
B. Personal liability coverage
C. Additional living expense coverage
D. Personal injury coverage
Answer: D Personal injury coverage. There are only 13 states where PIP coverage is mandatory. Texas and Colorado are not among them. If you want to include personal injury protection (PIP) on your homeowner’s policy, you must have it added manually.
2. Which coverage is not standard on most commercial auto insurance policies?
B. Defense Costs
C. Uninsured motorists
D. Physical damage
Answer: C Uninsured motorists. Most policyholders do not require or want this type of coverage for their commercial auto policies as they may have coverage for accidents that would fall into this category elsewhere. Therefore, uninsured motorists and medical payments are not typically included in standard commercial auto policies.
3. Your business’s general liability insurance will cover all except which one of the following scenarios:
A. A customer slipping on your wet floors
B. An employee getting hurt on the job
C. A small child hitting his head on your premises
D. A vandal who gets hurt on your premises after hours
Answer: B An employee getting hurt on the job. Employees are covered under your workers compensation policy, not your general liability policy.
These questions were not made to be easy ones to answer. You are not expected to know everything there is about all types of insurance. That’s what your insurance agent is there for – to help answer any of your questions and concerns about all your insurance needs.