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Which one (1) of the following statements about "Section 6 - Direct Compensation-Property Damage Coverage" of O.A.P. 1 Owner's Policy is INCORRECT? OA) It covers damage to the automobile, certain unscheduled trailers, their equipment and contents caused by another automobile in Ontario, including loss of their use. OB) The policy on the other vehicle must be issued by an Ontario licensed insurer or one that has filed with the Financial Services Regulatory Authority of Ontario to provide this coverage. OC) The accident may occur anywhere in Canada and at least one other automobile involved is insured under a motor vehicle liability policy. OD) The insured would be covered, partially under O.A.P. 1 if partially at fault for the accident.

Which one (1) of the following statements about "Section 6 - Direct Compensation-Property Damage Coverage" of O.A.P. 1 Owner's Policy is INCORRECT? OA) It covers damage to the automobile, certain unscheduled trailers, their equipment and contents caused by another automobile in Ontario, including loss of their use. OB) The policy on the other vehicle must be issued by an Ontario licensed insurer or one that has filed with the Financial Services Regulatory Authority of Ontario to provide this coverage. OC) The accident may occur anywhere in Canada and at least one other automobile involved is insured under a motor vehicle liability policy. OD) The insured would be covered, partially under O.A.P. 1 if partially at fault for the accident.

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Which one (1) of the following statements about "Section 6 - Direct Compensation-Property Damage Coverage" of O.A.P. 1 Owner's Policy is INCORRECT? OA) It covers damage to the automobile, certain unscheduled trailers, their equipment and contents caused by another automobile in Ontario, including loss of their use. OB) The policy on the other vehicle must be issued by an Ontario licensed insurer or one that has filed with the Financial Services Regulatory Authority of Ontario to provide this coverage. OC) The accident may occur anywhere in Canada and at least one other automobile involved is insured under a motor vehicle liability policy. OD) The insured would be covered, partially under O.A.P. 1 if partially at fault for the accident.
Transcribed Image Text:Which one (1) of the following statements about "Section 6 - Direct Compensation-Property Damage Coverage" of O.A.P. 1 Owner's Policy is INCORRECT? OA) It covers damage to the automobile, certain unscheduled trailers, their equipment and contents caused by another automobile in Ontario, including loss of their use. OB) The policy on the other vehicle must be issued by an Ontario licensed insurer or one that has filed with the Financial Services Regulatory Authority of Ontario to provide this coverage. OC) The accident may occur anywhere in Canada and at least one other automobile involved is insured under a motor vehicle liability policy. OD) The insured would be covered, partially under O.A.P. 1 if partially at fault for the accident.
Your insured is involved in an accident and his/her automobile is heavily damaged. Repairs are estimated at $7,500. He/she calls to advise you that the insurer does not intend to have the vehicle repaired, but will make a cash settlement, as its actual cash value is shown in the "Red Book" as $5,000. What should you tell your insured? OA) The insurer is obliged to pay the full cost of the repairs if your insured wants the car to be repaired. OB) The insured is entitled to obtain an appraisal but must share the costs equally with the insurer. OC) Sue the insurer for the full $7,500. OD) Post on social media about the matter to bring pressure on the insurer for a better settlement through the publicity it will generate.
Transcribed Image Text:Your insured is involved in an accident and his/her automobile is heavily damaged. Repairs are estimated at $7,500. He/she calls to advise you that the insurer does not intend to have the vehicle repaired, but will make a cash settlement, as its actual cash value is shown in the "Red Book" as $5,000. What should you tell your insured? OA) The insurer is obliged to pay the full cost of the repairs if your insured wants the car to be repaired. OB) The insured is entitled to obtain an appraisal but must share the costs equally with the insurer. OC) Sue the insurer for the full $7,500. OD) Post on social media about the matter to bring pressure on the insurer for a better settlement through the publicity it will generate.
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