If You Purchased Automobile Insurance Coverage with Policy Limits of $100,000/$300,000/$20,000,this

question 25

Multiple Choice

If you purchased automobile insurance coverage with policy limits of $100,000/$300,000/$20,000,this means that

• A)a maximum of $100,000 would be paid to the injured in your automobile and $300,000 to the injured in the other car.
• B)$100,000 is the limit on damages per individual with a $300,000 overall limit per accident.
• C)$20,000 is the limit on damages per individual with $100,000 limit per accident and an overall limit on all accidents of $300,000.
• D)$100,000 is the limit on damages per individual with a maximum of $300,000 being paid to the driver of the other car in property damages.

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Definitions:

Reliance

The act of depending or trusting in something or someone, often involves confidence placed in a party during contractual agreements.

Specific Performance

A legal remedy in contract law requiring a party to execute the contract according to its exact terms rather than paying monetary damages.

Unique Items

Unique items refer to objects or assets that are distinct because of certain features or characteristics that set them apart from other items in a collection or category.

Personal Property

Personal property encompasses movable assets owned by an individual or entity, in contrast to immovable real estate, such as furniture, vehicles, and electronics.