Question

What are the three major classes of loss associated with the ownership or operation of an automobile?

Answer 1

The three major classes of loss associated with the ownership or operation of an automobile are collision loss, comprehensive loss, and liability loss.

Step-by-step explanation:

The three major classes of loss associated with the ownership or operation of an automobile are:

1. Collision loss: This class of loss includes damage to the insured vehicle due to a collision with another vehicle or object.
2. Comprehensive loss: This class of loss includes damage to the insured vehicle caused by non-collision incidents such as theft, fire, vandalism, or natural disasters.
3. Liability loss: This class of loss includes damage to the property of others or injuries to other people caused by the insured vehicle.

These classes of loss are typically covered by different types of auto insurance policies.