Registered Insurance Brokers of Ontario (RIBO) Practice Exam

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Priorities of payment under an automobile policy relate to which types of losses?

Collision and property damage.

Collision and direct compensation.

Comprehensive and bodily injury.

Bodily injury and property damage

Payment priorities in an automobile policy refer to the order in which claims will be paid out and settled.

In this case, the correct answer is D because bodily injury and property damage are two of the main types of losses covered by automobile insurance.

While options A and B mention collision, which is a type of loss covered by automobile insurance, they do not mention bodily injury which is also important to prioritize in payment.

Option C mentions comprehensive coverage which is not typically a part of an automobile policy.

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