Personal Automobile Coverages (5 hours)
The main focus in this topic will be the ISO Personal Auto Policy (PP
00 01), which we will go over in great detail. We will also review a
number of endorsements, such as: Joint Ownership Coverage (PP 03 3);
Named Non-owner Coverage (PP 03 22); Extended Non-owned Coverage for
Named Individual (PP 03 06); Miscellaneous Type Vehicle Endorsement
(PP 03 23).
Related Vehicle and Trailer Coverages (1 hour)
The topic focuses on coverage for motor homes, motorcycles, mopeds,
golf carts, ATV's, trailers and other vehicles. Since some coverage
is found in the PAP, some in the Homeowners policy, and some must be
purchased separately, we have broken this out as a separate topic.
Personal Residential Coverages (8 hours)
The majority of this section will focus on the Homeowners 3 - Special
Form (HO 00 03), but we will also look at the HO-2, the HO-4 for apartment
dwellers, the HO-6 for condo unit-owners, other condo-related issues,
and dwelling forms. If you have to budget your preparation time, the
HO-3 would be the best form to concentrate on.
We'll also look at a number of endorsements, such as:
- Permitted Incidental Occupancies (HO 04 42);
- Structures Rented to Other (HO 04 40);
- Increased Limits on Business Property (HO 04 12);
- Scheduled Personal Property (HO 04 61);
- Special Personal Property Coverage (HO 00 15);
- Personal Property Replacement Cost (HO 04 90);
- Ordinance or Law - Increased Amount of Insurance (HO 04 77);
- Business Pursuits (HO 24 71);
- Watercraft (HO 24 75);
- Unit-Owners Rental to Others (HO 17 33);
And
- the Home Day Care endorsements (HO 04 96 and HO 04 97)
Personal Umbrella/Excess Coverages (2 hours)
Like the Commercial Umbrella section of the Commercial Casualty Institute,
this topic deals with nonstandard forms. There is not one dominant version
of the personal umbrella policy that you can study closely, but you
would benefit by reviewing any sample policies you have access to. Some
of the issues dealt with in this topic will include:
Umbrella coverage v. Excess Liability
- Umbrella "Drop Down" Provision
- Self-Insured Retention (SIR)
- Underlying coverages issues
This is actually an optional topic, but we virtually always include
it when we present the PL institute in Illinois.
Optional Topics
The remaining two hours of the Personal Lines Institute will be made
up of one of several available optional topics, such as:
- Watercraft
- Flood
- JUAs
- Personal Lines Case Study
