PL - Personal Liability Flashcards

1
Q

Is PL different than Section II of the HO policy?

A

Performs the same coverage function as section II of HO policy

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2
Q

Who is eligible for PL?

A

owner-occupants OR non-owner occupants (dwelling, condo, mobile, co-op, apt)

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3
Q

Who/what does PL cover?

A

NI, residing spouse & residing relative for legal liability for BI and PD from private residence and personal activities. Also provides coverage for medical payments to others

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4
Q

PL Minimum limits

A

$100,000 for BI/PD - includes medical payments to others ($1,000 min)

damages to property of others ($1,000 min)

Statutorily imposed parental vicarious liability (when children vandalize public property) - $10,000 cap

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5
Q

NO PL coverage for…

A

Loss assessment
permitted incidental occupancies
home business
certain watercraft over 26ft & 25 HP can be endorsed
Personal Injury and Farm Liability **canNOTbe endorsed

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6
Q

Excess Liability

A

requires that the original claim be covered by the underlying and then will be paid by this policy

  • Follow form
  • Stand alone policy
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7
Q

Follow form

A

coverage, limitations, provisions & exclusions are EXACTLY LIKE THE UNDERLYING POLICY

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8
Q

Stand alone policy

A

Same coverage as underlying, but has own limitations, provisions, & exclusions - may not pay

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9
Q

Umbrellas

A

these are standardized with some variatinos & coverage by underlying is not required - often offers additional coverage but is not underlying (non-owned water/aircraft, CCC, Personal Injury, Worlwide premises)

When claims involve umbrella and not the underlying, the umbrella becomes primary and is subject to a deductible known as SIR

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10
Q

SIR

A

Self Insured Retention: the deductible that becomes subject with umbrellas

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