C14: Automobile Insurance Part 1 study plan

Define third party liability coverage and distinguish it from first party coverages in the automobile policy

Explain the legal liability concept that underlies third party liability coverage and identify the three elements a claimant must establish

Compare the limits structure of third party liability coverage, including per occurrence limits and the treatment of claims by multiple claimants

Identify the categories of damages a court may award against an at-fault driver and classify which are covered versus excluded

Describe the duties an insured owes an insurer after an at-fault accident and the consequences of breaching them

Explain how provincial minimum liability limits interact with the policy's stated limits and with an insured's personal assets

Interpret each statutory condition governing liability claims, including notice, cooperation, and proof of claim requirements

Analyze how a breach of a statutory condition affects an insurer's duty to defend and duty to indemnify

Distinguish the insurer's duty to defend from its duty to pay a judgment and explain the supplementary payments that accompany the defence obligation

Define accident benefits coverage and list the categories of benefits typically available to an injured insured

Explain the distinction between no-fault accident benefits and tort-based claims against an at-fault party

Calculate a sample weekly income replacement benefit given a stated gross income, a benefit percentage, and a maximum weekly amount

Describe medical, rehabilitation, and attendant care benefits and identify the limits that apply to each

Identify the death and funeral benefits available to survivors and explain who qualifies as a beneficiary

Distinguish collision coverage from comprehensive coverage and classify ten sample loss events under the correct coverage

Explain actual cash value versus replacement cost valuation and calculate depreciation on a stated vehicle value

Apply the deductible to a sample claim and determine the insurer's payment in both a collision and a comprehensive loss

Describe the treatment of total losses, salvage value, and betterment in the settlement of a physical damage claim

Identify the exclusions common to physical damage coverage and explain the reasoning behind each

Diagram the structure of the automobile policy, mapping each section to its purpose and to the coverage it provides

Explain the roles of the declaration page, the insuring agreements, the exclusions, and the conditions in resolving a coverage question

Define uninsured automobile coverage and distinguish it from underinsured automobile coverage

Explain how a hit-and-run accident and an unidentified driver are treated under uninsured automobile coverage

Describe the interaction between uninsured automobile coverage and the insured's own third party liability and accident benefits coverages

Explain the purpose of statutory conditions and how they are incorporated into every automobile policy in a province

Interpret the statutory conditions on material change in risk, prohibited use, and termination, and predict the coverage outcome in each case

Describe the statutory requirements for proof of loss, examination under oath, and appraisal of disputed losses

Explain how provincial minimum limits, mandatory coverage requirements, and facility associations affect risk placement

Analyze how a material misrepresentation in an application affects the insurer's right to void or rescind coverage

Define the principal rating variables used in private passenger automobile insurance and explain how each is used in the rating process

Distinguish the underwriting factors that are permitted from those that are prohibited or restricted in automobile insurance

Explain the roles of territory, driver class, vehicle rating group, and usage in determining a base premium

Describe the underwriting process for new business, renewals, and mid-term changes, including the purpose of inspection and claims history review

Identify red flags that suggest fraud or misrepresentation in an application and explain the underwriter's response to each

Integrate all eight domains by solving six mixed coverage scenarios that each require identifying the responding coverage, the applicable limit, and any statutory condition issue

Diagnose weak areas using a timed practice exam and rank them by error frequency

Re-teach the two weakest domains using a self-written summary of no more than one page each

Recall the key limits, definitions, and statutory conditions from memory without reference materials