Limits of Liability (UT-PC)

All of the following statements are true EXCEPT which one?

An accident

An occurrence policy is a better policy than an accident policy, because an occurrence policy

Angelina Maria’s auto insurance policy has the following liability split limits: $250,000 / $500,000 / $100,000. The first number is

Conrad’s auto insurance policy has the following liability limits: $100,000 bodily injury per person, $300,000 bodily injury per occurrence, and $100,000 property damage per occurrence. Conrad’s policy is

Georgia’s auto insurance policy provides a $250,000 limit for all bodily injury and property damage liability per occurrence. Georgia’s policy is

Martina’s auto insurance policy has the following liability split limits: $250,000 / $500,000 / $100,000. The third number is

Occurrence

Pedro Santiago’s auto insurance policy has the following liability split limits: $100,000 / $200,000 / $50,000. He is responsible for a car wreck injuring three people, resulting in these medical expenses: Person A – $120,000; Person B – $80,000; Person C – $130,000. How much will the policy pay for bodily injury?

Phillip’s auto insurance policy has the following liability split limits: $100,000 / $200,000 / $50,000. He is responsible for a car wreck injuring two people, resulting in these medical expenses: Person A – $125,000; Person B – $50,000. How much will the policy pay for bodily injury?

Restoration of limits (also called nonreduction of limits) refers to when the policy limits are restored back to the full amount. For policies with aggregate limits, the policy limits are restored

Restoration of limits (also called nonreduction of limits) refers to when the policy limits are restored back to the full amount. For policies with split limits or combined single limits, the policy limits are restored  

Teresa’s auto insurance policy has the following liability split limits: $250,000 / $500,000 / $100,000. The second number is