insurance community university 1 the five key issues you must know about personal auto insurance

Insurance Community University1

The Five Key Issues You Must Know About Personal Auto Insurance

Insurance Community University

Welcome to your Insurance Community University

• All of you are currently on mute – Un-mute your own system– Telephone Option

• Select Telephone on your screen• Dial in the PIN number so that your number becomes active

– Microphone and/or Speaker Option• You can use this option if you have a headset that you use with

your computer

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Audio


Participation & Chat Window

• You will receive information from the monitor via the ‘Chat’ window. – Please locate window in the control panel

• Q & A is welcomed during the presentation and at the end of the presentation

• You will find the question box on your control panel– Write your question in that box and send it to the presenter/organizer

• The presenter will take those• questions in the order submitted

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DOI Requirements

• When you see a slide with the hand up symbol, touch the “hand” icon on your control panel– Click ONCE only

• If you do not raise your hand, the monitor will be in contact with you in the chat box

• If you are in a group, the designated proctor is responsible to make certain you are all in attendance at all times

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= Hand is down


Polling

• Throughout the class we will be conducting periodic polls

• We need 100% participation on the polls• The polls are intended to check

participation but also to create discussion topics throughout the presentation

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Forms To Complete for CE

• After class ends– Return attendance form– Proctors – return your form to email

address

• Email address is in chat window or in email sent to you today

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DOI Requirements

• We will file your hours with the DOI after the completion of this webinar and we have received the attendance form.

• You have 48 hours to return the form• You will be sent a Certificate of

Attendance/Completion by email. Please retain this for your records for five years.

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Internet Disruption

• If the presenter looses internet connection STAY ON THE LINE

• The administrators will communicate with you


Internet Failure

• If the internet fails and all participants are kicked off line by Go To Training or other source then the seminar will be terminated

• You will receive instructions by email as to how we will proceed

• This is a precautionary notice, only

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DisclaimerInsurance forms and endorsements vary based on insurance company;

changes in edition dates; regulations; court decisions; and state jurisdiction. This instructional material provided by Insight Insurance

Consulting and the Insurance Community Center is intended as a general guideline and any interpretations provided by Insight, Insurance

Community or presenters do not modify or revise insurance policy language. When ISO language is included in the materials, all ISO

content is protected by the ISO copyright. All parties to this presentation and creation of materials assume neither liability nor

responsibility to any person or business with respect to any loss that is alleged to be caused directly or indirectly as a result of the instructional

materials provided. Copyright 2010 – 2013 All Rights Reserved

www.insurancecommunitycenter.com

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Your Instructor Today

Casey Roberts, ACSR, AFIS, CICLaurus Insurance Consulting

707.477.0913Casey@laurusinsuranceconsulting.comwww.laurusinsuranceconsulting.com

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Objectives

1. Named Insured and other automatic insureds

2. Adding Living Trust3. Automatic coverage for vehicles4. Coverage provided for vehicles used in

business5. Rental vehicles

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Coverage Parts

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Who is an insured on the policy

Adding Living Trust

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Polling Question #1

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Polling Question #2

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Named Insured

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Named Insured

Throughout this policy, "you" and "your" refer to:1. The "named insured" shown in the Declarations; and2. The spouse if a resident of the same household.

If the spouse ceases to be a resident of the same household during the policy period or prior to

the inception of this policy, the spouse will be considered "you" and "your" under this policy but only until the earlier of:

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Named Insured

1. The end of 90 days following the spouse's change of residency;2. The effective date of another policy listing the spouse as a named insured; or3. The end of the policy period.

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Other Insureds

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Family Member Defined

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Resident

• Since the family member is covered only when a resident, that becomes the most important point for coverage to apply– Living at home– Living away from home at school / in the

military• Is there still a relationship to the family home?• Is there an intent by both parties to view the

family home as their primary residence?

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Including The Family Trust

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Automatic coverage for vehicles

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Covered Vehicles?

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Limited Types of Situations

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Newly Acquired Vehicles

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Temporary Substitute Vehicle

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Out-of-State Coverage

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Polling Question #3

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Coverage provided for vehicles used in business

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Polling Question #4

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Business Use Vehicle

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Rental Vehicles

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Rental Vehicles

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Polling Question #5

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Valuation

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Deductible Applies

Deductible Applies


Transportation Expenses

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Auto Endorsements

• Trust Endorsement • Extended Non-owned Coverage - Vehicles

Furnished Or Available For Regular Use• Miscellaneous Type Vehicle

– Motor home – Motorcycle or similar type of vehicle– Dune buggy – Golf cart

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Physical Damage Endorsements

• Auto Loan/Lease Coverage • Coverage for Damage to Your Auto

(Maximum Limit of Liability)– Watch out for this one – E & O waiting to

happen

• Trailer/Camper Body Coverage• Customizing Equipment Coverage

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Summary

• Writing coverage correctly for your personal lines client is fairly complex

• It requires persistence and a lot of information

• Renewing year after year without speaking to the insured could result in an E & O claim

• Reduce that potential and build a relationship with your clients

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Upcoming Classes

Upcoming University/Paid CE Classes

FREE to University Members$50.00/charge for non university members

4/23 Personal Auto

4/25 & 26 Insight on Errors & Omissions

5/2 Commercial Crime 5 key issues

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Upcoming Community Classes FREE to University Members$25.00/charge for non university members

4/30 (Separate Fee) The Ten Most common Mistakes Producers Made in 2012

5/9 Update on Terrorism

Join the University TODAY. www.insurancecommunitycenter.comClick Join University at the top of the bar

insurance community university 1 the five key issues you must know about personal auto insurance

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