<u>Legal Responsibility is not considered as the component of auto insurance because auto insurance only consists of collision, bodily injury, medical payment or personal injury protection and property damage liability. Therefore option (d) is correct.
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Further Explanation:
Auto Insurance: It is a contract between two parties of which is the insurer, and the other one is insured. An insurer is a person who agrees to pay the insured in any unforeseen circumstances like accidents, thefts, property damage, etc. In case of auto insurance, the insurance company takes the responsibility of all the damages which are done to the holder of the auto or the auto, but it does not take the responsibility of any legal damage to the insured.
Learn more:
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3. Learn more about the insurance cover
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Answer details:
Grade: Senior School
Subject: Business Studies
Chapter: Insurance
Keywords: Insurance, collision, bodily injury, insurance claims, legal responsibility, property damage, types of auto insurance, auto insurance, the insurance company, responsibility, damages, holder of the auto, legal damage to the insured, basic type of auto insurance, contract, between two parties, insurer, who agrees to pay, the insured.
