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Terms in this set (8)
An insured auto dealer has purchased garage policy physical damage coverage against specified causes of loss. Which of the following losses will not be covered by the policy?
Flood damage to a covered auto.
Vandalism damage to a covered auto.
Damage resulting from the collision of the truck carrying a covered auto with another vehicle.
Damage resulting from the collision of the truck carrying a covered auto with another vehicle..
A specified cause of loss is named perils coverage and collision is not one of the named perils. Collision is a separate physical damage coverage requiring the upset of the covered vehicle, or its impact with another vehicle or object.
Necessary medical expenses will be paid by Coverage F for bodily injury incurred by others within:
30 days from the date of an accident.
Six months from the date of an accident.
One year from the date of an accident.
Three years from the date of an accident.
Three years from the date of an accident
The general property flood coverage form for commercial property will settle claims on the basis of:
actual cash value..
The inland marine coverage form that covers clothing, cameras and other portable property worn or carried by tourists and travelers is a:
Personal effects floater.
Personal articles floater.
Camera and musical instrument floater.
Theatrical property floater.
Personal effects floater. .
Due to the broader homeowner form, the personal effects floater policy is seldom written. Items under this policy are not scheduled. Limits for items are contained in the form.
Which of the following time periods is ordinary payroll coverage limited to in case of a business income loss under the BOP?
60 days .
The insurance company pays for only the loss of business income sustained during the restoration period that takes place within 12 consecutive months after the date of the covered loss or damage. However, it pays for ordinary payroll expenses for only 60 days after the date of loss unless a higher number of days is on the declarations.
The "impaired property" exclusion of a CGL policy's Coverage A deals mainly with:
Assume that the auto in each of the following examples is insured for comprehensive coverage. Which of the losses would be excluded under the BAP?
A fire destroys 10 CD's in the auto.
A thief removes a cassette player from under the auto's dash. The tape player had been permanently installed.
A CB radio is damaged in a flood. The radio was permanently mounted in the auto's dash where the factory installs the radio.
All of the losses are excluded.
A fire destroys 10 CD's in the auto..
The physical damage coverage of the BAP specifically excludes tapes, records, discs or other similar electronic devices designed for use with audio, visual or data electronic equipment.
What is the loss assessment limit provided by Section II of the homeowner forms?
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