Exam Exam Simulation for United States Personal Lines Question 26 of 50 Select Y

Question

Exam Exam Simulation for United States Personal Lines Question 26 of 50 Select Your Answer! In order to meet the government requirement for all licensed drivers to carry insurance for any liablity that occurs while driving, what two methods does the insurance industry use to cover any driver for the compulsory coverage? Quit Standard/Preferred Auto Risk insurers, substandard automobile insurance companies and assigned risk plans Specialty insurers and preferred risk insurers only Standard risk plans and nonstandard risk plans only Specified rik plans and standardized protection plans only Time Remaining 0117:54

Explanation / Answer

Option c

Stabdard risk plan insurance is an insurance that the state places for someone who is usually denied coverage due to the fact that he is considered a high-risk driver (perhaps because he has a DUI charge or has a number of traffic violations). The state can assign some coverage to licensed insurance companies.

Non-standard auto insurance is similar to a standard auto insurance product, but for high-risk drivers. If the driver is willing to pay for higher premiums, he can get the coverage he needs through the non-standard auto insurance program

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