ECONOMICS
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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economic 4-door sedan
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new sports car
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used mini-van
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used hybrid car
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Detailed explanation-1: -Third-party insurance, which is also sometimes referred to as ‘act-only’ insurance is a statutory requirement for all vehicle owners as per the Motor Vehicle Act. It is a type of insurance cover where the insurer offers protection against damage to the third-party vehicle, personal property and physical injury.
Detailed explanation-2: -Under Virginia law, drivers must obtain the minimum required auto insurance coverage or pay an uninsured motorist fee. If you choose to obtain the minimum required insurance coverage, then you must have at least: $25, 000 in coverage for bodily injury (per person) $50, 000 in coverage for bodily injury (per accident)
Detailed explanation-3: -One of the most frequent questions by drivers is: “Can you be the primary driver of more than one vehicle in Ontario?” In short, yes, you can. There are several reasons why drivers in Ontario choose to be the primary driver of more than one vehicle.