Term
| What is the purpose of Commercial Auto |
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Definition
| insures the automobile exposure of businesses |
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Term
| The kinds of Autos owned by businesses and covered under a Business Auto Policy include: |
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Definition
Private passenger type autos, incl station wagons, jeeps, pickups, panel trucks, vans, and utility trailers designed to be pulled by private passenger autos.
Commercial autos, including trucks other than those listed above, truck tractors, semitrailers, commercial trailers, and service trailers |
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Term
Question SE:
Where do we find coverage for semi tractor trailers? |
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Definition
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Term
| The Business Auto policy includes one of three coverage forms in addition to the |
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Definition
The Business Auto
The Garage Coverage
Truckers Form |
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Term
Question SE:
You own a ten story parking lot in downtown Manhattan, under Commercial Auto what form do you need? |
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Definition
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Term
Question SE:
You have a fleet of trucks and you're a plumber what type of Commercial auto do you use? |
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Definition
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Term
| The Garage coverage form is used to insure business engaged in selling, servicing, repairing, parking or storing autos |
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Definition
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Term
| The Business Auto Coverage form can be used to insure the auto exposures of all businesses other than garage or trucking businesses. |
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Definition
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Term
| Business Auto Coverage Form includes: |
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Definition
Section I - Covered Autos
Section II - Liability Coverage
Section III - Physical Damage Coverage
Section IV - Business Auto Conditions
Section V - Definitions |
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Term
| PIP, Uninsured Motorists and Medical Payments coverages can be added to the policy by separate endorsement. A separate business Auto Declarations must also be attached |
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Definition
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Term
| Section I Covered Autos consists of: |
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Definition
| Symbol 1, 2, 3, 4, 5, 6, 7, 8, 9 & 19 |
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Term
| Symbol 1 - Liability only - Any Auto |
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Definition
| "Any auto." This means the policy covers any auto, whether owned by the insured, hired by the insured, or neither owned nor hired by the insured. Symbol 1 may be applied only to liability insurance, as other policy coverages do not contemplate such blanket protection |
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Term
| Symbol 2 - L/MP/UM/PD - Owned Autos |
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Definition
| "Owned Autos Only." All autos owned by the insured throughout the policy period are covered (except coverage is provided for non-owned trailers while they are attached to owned power units) |
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Term
| A vehicle can have multiple symbols but it must have at least 1. If it doesn't have a symbol it isn't covered |
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Definition
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Term
| Symbol 3 - L/MP/UM/PD - Owned private passenger autos only defined as 2 or 4 door sedan |
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Definition
| blanket, automatic coverage, like Symbol 2, but does not include coverage for vehicle types other than private passenger, such as trucks, buses, etc. |
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Term
| Symbol 4 - Owned Autos other than private passenger autos only" L/MP/UM/PD i.e. pick ups, vans, hummers, etc |
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Definition
| This is blanket, automatic coverage for such vehicles. Symbol 3 and 4 combined = Symbol 2 |
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Term
| Symbol 5 - Owned autos subject to No-Fault - PIP only |
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Definition
| This provides blanket, automatic coverage for all autos required to be covered under the Florida No-Fault Law. Symbol 5 applies only in conjunction with PIP coverage |
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Term
| Symbol 6 - Owned Autos Never used in Florida |
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Definition
| Owned autos subject to a compulsory UM law. Florida does not require we carry UM in Florida |
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Term
| Question SE: Symbol 6 UM Coverage is never used in Florida therefore your clients can't purchase it on your vehicle. |
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Definition
| False. It says Florida is not a mandatory UM state but may be purchased |
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Term
| Symbol 7 - Mandatory L/MP/UM/PD Specifically described autos can be used for any of the BAP coverage |
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Definition
| this symbol is utilized to cover only specific autos identified in the Declarations, (including nonowned trailers while attached to any such unit |
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Term
| When symbol 7 is entered, an auto acquired during the policy period will only be a covered auto for that coverage if: |
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Definition
| (1) the insured already insures on this policy all autos he or she owns, or (2) the auto replaces a covered auto. In either case, the insured must notify the insurer within 30 days of acquisition. |
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Term
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Definition
| All owned vehicles must be with the company that is insuring the vehicle under Symbol 7 |
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Term
| Vehicles that stand out in the fleet are used for Symbol 7 such as the Weiner Mobile with Oscar Meyer or Bentleys. Vehicles that stand out from the fleet |
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Definition
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Term
TEST Question:
Is there automatic coverage on Symbol 7? |
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Definition
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Term
| Symbol 8 - L/PD Hired Autos only - |
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Definition
| Symbol 8 applies to a coverage, it means that covered autos include only those that the named insured hires, rents, leases or borrows from the person other than employees or members of their households. Liability and PD only |
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Term
| Symbol 9 L - Pizza Hut - Nonowned autos only |
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Definition
| Coverage applies only to autos which the named insured does not own, lease, hire, rent or borrow except from an employee or family member of an employee. Symbol 9 is available only for liability |
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Term
| Symbol 19 Mobile Equipment Subject to Compulsory or Financial Responsibility or Other Motor Vehicle Insurance Law Only - ex. Snow Plows, bucket trucks etc |
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Definition
| This symbol is used to trigger coverage for over the road use of mobile equipment that falls under the definition of "auto" as indicated |
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Term
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Definition
| In the Declarations, a symbol appears next to each coverage being provided to indicate the autos that will be considered covered autos for that coverage. You can have multiple symbsols but must have at least 1 |
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Term
| A symbol on a covered vehicle will to extend to? |
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Definition
| Trailers with a load capacity of 2,000lbs or less if they are designed primarily for use on public roads; "mobile equipment" while it is being hauled or towed by a covered auto; and any temporary substitute auto. |
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Term
| State Exam: Liability coverage is also extended to a symbol vehicle |
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Definition
| to trailers with a load capacity of 2,000 lbs or less, if they are designed primarily for use on public roads; "mobile equipment" (backhoe, forklift etc...cannot be driven on city streets) while it is being hauled or towed by a covered auto; and any temporary substitute auto. |
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Term
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Definition
| the mobile equipment is on the truck |
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Term
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Definition
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Term
| Auto and mobile equipment defined |
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Definition
| Coverages are structured for auto insurance to cover "autos" and for general liability insurance to cover "mobile equipment" with each (subject to exceptions) excluding the other type of equipment. ("Mobile equipment" may be endorsed onto the auto policy when no CGL insurance is available. |
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Term
| Covered by a commercial business auto policy One day an employee was backing a piece of mobile equipment off the truck and struck and killed someone; then when unloading the truck they struck and killed someone else. What is covered under the Commercial Auto policy? |
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Definition
| backing the mobile equipment off the truck because its coming off the covered vehicle |
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Term
Hauled or towed is business auto
off the trailer and put to it's intended use is CGL |
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Definition
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Term
| Mobile Equipment that must be insured under Commercial Auto |
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Definition
| Those that are driven on public roadways i.e. snow plows, cranes designed like a truck, bucket trucks etc. |
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Term
| Mobile Equipment that must be insured under Commercial General Liability |
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Definition
| Those that cannot be driven on public roadways i.e. forklifts, bulldozers, crawler treads, cranes on crawler treads |
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Term
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Definition
| defined as insured as auto |
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Term
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Definition
| a land motor vehicle, trailer or semitrailer designed for travel on public roads, or any other land vehicle that is subject to a compulsory or Financial Responsibility Law or other Motor vehicle insurance law where it is licensed or principally garaged, but not mobile equipment. |
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Term
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Definition
| covers liability in a similar manner to the Personal Auto Policy; legal liability of insures, defense costs and supplementary payments |
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Term
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Definition
Anyone with permission of named insured
is covered for Liability on all insured vehicles |
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Term
| what is the major exclusion under Business Auto Section II Liability |
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Definition
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Term
| Section III Physical Damage has 3 principal coverages: |
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Definition
Comprehensive - Other than collision
Specified Causes of Loss
Collision |
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Term
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Definition
| covers collision with another object or overturn |
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Term
| Other than collision - Comprehensive |
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Definition
| any unexcluded loss other than collision or overturn |
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Term
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Definition
| more limited coverage alternative to comprehensive, insuring for the specified perils of fire, lightning, explosion, theft, windstorm, hail, earthquake, flood, and mischief or vandalism; or the sinking, burning, collision, or derailment of a conveying transport. This would cover the sinking of a BMW on the ship on its way from Germany to the U.S. dealership |
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Term
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Definition
| is for business that need more specified coverages that are not in collision or other than collision. i.e. a business that transports oxygen, or your an auto dealer that vehicles are being transported on a train or ship to reach the dealership etc |
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Term
| Transportation expenses on commercial private passenger autos: |
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Definition
$20 per day/$600 maximum
Towing and Labor coverage with a limit of $25 |
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Term
| STATE EXAM You're driving out of your business and you had an occurrence with your company pick up truck. The truck had body damage and you had to get a replacement vehicle. What is the coverage under commercial auto for the vehicle? |
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Definition
| zero must be a 2-4 door sedan. Transportation expenses only apply to private passenger autos |
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Term
| Is Mechanical breakdown covered on a Commercial Auto policy |
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Definition
| NO it is a policy of its own |
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Term
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Definition
| PIP, UM, and Med Pay coverages not built into the Business Auto form must be added by endorsement. |
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Term
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Definition
Named Individuals Broadened PIP - (covers an employee that doesn't own a vehicle to have PIP)
Provides that persons named therein, spouse, and resident family members are treated as named insureds for PIP coverage. |
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Term
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Definition
| When the BAP named insur an individual and the policy includes one or more covered autos that are eligible for the PAP, this endorsement broadens coverage on such autos to be similar to that in a PAP. An employee, spouse or family member is driving the car as a personal vehicle. Driver must be named if other than owner, spouse of owner or residing family member of owner. |
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Term
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Definition
| covers persons named therein (including their spouses) for use of automobiles (1)that are not covered autos under the BAP and (2) that they do not own. Without this endorsement, for example, there would be no BAP coverage provided for an employee's personal use of a rental car while on vacation. Its use is also indicated in the same situations as Broadened PIP, described earlier. |
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Term
| TEST What endorsement is needed on Commercial Auto for AVIS car rental |
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Definition
| Drive Other Car Coverage endorsement |
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Term
| Rating/Premium Trucks & Trailers |
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Definition
based on Territory where they are garaged
radius of operation
size or type
and the business use (what type of biz)
Physical Damage:
original cost new and the vehicle age are also considered |
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Term
| TEST All of the following are used as rating in commercial auto except? |
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Definition
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Term
| TEST Define Trucks territory for rating |
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Definition
50 miles - local
50-200 miles is intermediate
200 miles is long distance or over the road trucker |
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Term
| TEST Three categories of business use: |
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Definition
Retail - vehicles that are used to deliver goods and merchandise to individual households
Service - go from from job site to job site
Commercial - any vehicle that is used for a purpose other than those qualifying as retail or service |
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Term
State Exam TEST
Under categories for vehicles how would you categorize a UPS truck? |
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Definition
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Term
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Definition
| is rated in other ways; for example, buses are rated at their passenger capacity. |
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Term
| When the policy includes coverage for hired autos (taxi cabs), a premium is charged based on a rate per $100 cost of hire i.e they're charging based on how much you earn or meter rate. If nonowned autos are included, the premium is based on a rate per employee. |
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Definition
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Term
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Definition
in the business of selling, servicing, repairing or parking automobiles. While a form of auto insurance, it also includes coverage for the general liability hazards of these risks.
While a form of auto insurance, it also includes coverage for the general liability hazards of these risks. |
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Term
| Symbols 21 through 29 (Garage form) are identical to Symbols 1 through 9 on the Business Auto |
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Definition
| State exam offers answer "the same" which is wrong...they are "identical" |
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Term
Symbol 30 - Garage form Tool Chest
(includes symbol 31) this would be an auto dealership, repair shop, storage facility like a tow lot etc. |
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Definition
| Autos left with you for service, repair, storage and safekeeping. |
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Term
| Symbol 31 - Garage form Dry Lot |
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Definition
in the business of selling or trade autos
physical damage coverage included |
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Term
| How are covered autos designated on a business auto policy? |
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Definition
A. By Symbols
B. They are covered by definition
C. They are listed on a schedule |
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Term
| Under the BAP what is the maximum load capacity of trailers for automatic liability coverage? |
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Definition
a. 5,000 lbs
b. 1,500 lbs
c. 2,000 lbs
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Term
| What is the limitation for transportation expense under the BAP? |
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Definition
a. $20/$600 $25 for Towing and Labor
b. $20/$600 for Private Passenger only $25 for Towing and Labor
c. $50/$750 for Private Passenger only $25 for Towing and Labor |
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Term
| How is PIP, UM and Med Pay added to the BAP? |
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Definition
a. by endorsement
b. They are not available for business auto
c. They are automatically included |
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Term
| Define the following radius of operations: |
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Definition
Local - less than 50 miles
Intermediate - 50 miles to 200
Long Haul (Over the road trucker) more than 200 miles |
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Term
| The Garage form is a combination of? |
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Definition
a. Truckers and liability
b. Auto and Liability
c. Property and Auto
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Term
| Which symbol does the State say is appropriate for dealers liability? |
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Definition
a. 22 owned autos
b. 27 Specifically described auto
c. 21 All autos |
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Term
| What is symbol 29 used for? |
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Definition
a. Service garages
b. Non owned autos used in the garage business
c. All of the above |
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Term
| Which symbol is used for physical damage on autos in the insured's CCC? |
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Definition
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Term
| Which symbol is used for physical damage on dealers auto? |
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Definition
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Term
| Section II Liability Commercial Liability |
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Definition
| refers to "garage operations" as being covered i.e. their hours of operation they have everything. Outside of their hours of operation all they have is if someone falls on the premises. If they don't have symbols on the policy they have no coverage |
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Term
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Definition
| In the definitions, the term is defined as meaning the ownership, maintenance or use of locations for garage business and the ways adjoining, and all operations necessary or incidental (away from the business) to the business, plus those autos as indicated by covered auto symbols in the Declarations |
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Term
| Exclusions from Garage Section II Liability |
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Definition
| any watercraft and aircraft are excluded except watercraft while on the premises |
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Term
| You have watercraft stored adjacent to the premises is it covered under Garage Liability II |
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Definition
| NO...must be on the premises |
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Term
Test
Garage Operations/Dealers When do I become an insured under dealer's risk |
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Definition
| The minute I pull my car onto the premises of the dealership with no insurance I becomes their insured immediately up to 10/20/10 |
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Term
| Test Garage Operations/Dealers When do I become insured on a dealerships lot when I have 10/20/10 |
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Definition
| When my 10/20/10 becomes exhausted |
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Term
| Garage Operations/Dealers Risk - Dealers limit |
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Definition
| option from insurance companies for a Dealership to purchase coverage to cover autos coming onto the dealership premises that automatically covers the general public autos with 1M/5M/1M |
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Term
| Insureds under Garage Operations |
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Definition
| For garage operations other than covered autos, the term "insured" includes the named insured and employees, directors or shareholders while acting within the scope of their duties as such. |
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Term
TEST
If a dealership repairs your car incorrectly that results in an accident when you drive your car and it causes damage to property. The dealership is responsible with a $100 deductible |
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Definition
| This is the only place you will ever see a deductible on Liability coverage |
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Term
| Section III Garagekeepers this is the only Liability form that includes CCC |
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Definition
| This is the kings coverage and must be used by all dealerships and they must use Symbol 30. This coverage is Named perils Only. By endorsement they can get Open Perils but std is Named Perils. Garagekeepers comes with CCC therefore any damage to a vehicle in the dealers CCC is covered |
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Term
| Section III Garagekeepers |
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Definition
| The causes of loss that may be covered are: Comprehensive (all loss except collision or overturn); Specified Causes of Loss (although the same name as under BAP, provides far more limited coverage--fire, explosions theft mischief or vandalism)and Collision. |
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Term
Test Question:
Last night 11 automobiles were vandalized and their windshields were knocked out last night what is the deductible |
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Definition
$100 per car up to $500 per occurrence
so there would be a total deductible of $500 for this occurrence |
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Term
| Garagekeepers Standard deductibles |
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Definition
| $100 per car up to $500 per occurrence, apply to losses from theft , mischief or vandalism, with higher deductibles available. |
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Term
STATE EXAM VIP Garagekeepers
Last night 4 cars were vandalized what is the deductible? |
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Definition
| $100 per car (Do not make the mistake of adding them together the answer is $100 per car or up to $500 per occurrence) VIP |
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Term
STATE EXAM
Garagekeepers Collision Coverage Deductibles |
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Definition
| For Collision the insured may select $100, $250, or $500 deductible |
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Term
Garagekeepers Insurance
If the insured has an occurrence on the premises, adjacent, away from the premises the dealer must be proven legal liability |
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Definition
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Term
| Garagekeepers basic policy is only for the insured's legal liability. It is optional, however, to cover customer's property on either of two bases without regard to legal liability: |
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Definition
The insured may provide direct physical damage coverage on the customer's cars under CCC, regardless of any other insurance the customer may have available. i.e. have the vehicle fixed in the dealers/garage's body shop.
Alternately, the customer's cars may be covered on a direct basis, (their own ins)and the Garage Coverage form only paying an excess over at insurance otherwise available to the customer. i.e. the owner of the car can take the car anywhere for repair and the insureds is excess only. |
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Term
| Theft or conversion by the insured employees or shareholders is excluded. What is conversion under Garagekeepers exclusion? |
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Definition
| Dealership modified the vehicle from factory. i.e. changed engine, wheels etc. Any type of conversion |
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Term
| Section IV - Physical Damage to insureds vehicles |
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Definition
| On symbol vehicles only this is coverage for damage to dealers inventory |
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Term
| Section IV - Physical Damage |
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Definition
| must have 100% Co-Insurance |
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Term
| Section IV - Physical Damage Coverage |
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Definition
Coverage may be either (1) on a reporting basis, wherein an overall maximum limit is established and the insured reports values montly or quarterly, or
(2) on a nonreporting basis, subject to a limit stated in the policy. For either basis, the equivalent of 100% coinsurance applies i.e. if the insured does not accurately report values on hand at the time of loss, or if the nonreporting limit is less than total values, a penalty is imposed in loss payment. like the did over should scenario on homeowners |
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Term
State Exam & GC Exam
IV - Physical Damage Coverage Exclusions: |
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Definition
| Collision damage to autos being driven or transported from point of purchase or distribution to destination, if such points are more than 50 miles apart. However, the policy can be endorsed with DEAERS DRIVE-AWAY COLLISION: The physical damage coverage exclusion regarding autos being driven or transported from point of purchase or distribution to destination, if such points are more than 50 miles apart, is eliminated with this endorsement |
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Term
State Test & GC Exam
A dealership in Orlando is transporting a vehicle for a customer to Miami with no endorsements on the policy what is the coverage afforded on the transported vehicle? |
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Definition
| Liability only no Collision because it exceeds standard transportation limit of miles to destination of 50 miles. |
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Term
State Exam & GC Exam
A vehicle is being transported by a dealership for a customer from Jacksonville to Miami with endorsements on the policy what's the coverage afforded to the transported vehicle. |
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Definition
| Liability and Physical Damage |
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Term
| Endorsements on Garagekeepers |
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Definition
| PIP, UM and Medical Payments coverages, not built into the basic Garage policy, must be added by endorsement. PIP and UM coverages are as previously described, but Medical Payments coverage is available in two forms, either or both of which may be included. |
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Term
| Endorsements on Garagekeepers |
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Definition
| Automobile Med Pay coverage applies to autos covered for liability. In addition, Med Pay coverage may be included on garage premises and operations, providing for medical reimbursement to customers and others who are injured at the garage premises, or as a result of operations away from the premises, and not involving automobiles. |
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Term
| Garagekeepers Broad Form Products: |
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Definition
| IF dealership carries products for sale they need this endorsement to cover their product inventory. The broadened coverage is subject to a deductible of $250 per accident |
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Term
| Garagekeepers - Loss caused from the insured voluntarily parting with an auto by a trick or scheme or under false pretenses unless: |
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Definition
| Policy is endorsed with FALSE PRETENSE endorsement which adds Physical Damage coverage for dealers to insure against loss from voluntarily parting with a covered auto by trick or scheme or from acquiring an auto from someone who does not have legal title. |
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Term
| Must know all Symbol definitions they are on GC test. For state exam you need to know 2,5,7, & 9 |
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Definition
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Term
| Your client has a business auto policy and why they were backing equipment off the truck they hit and killed somebody. Later in the day while the employee was unloading the truck...which of the two are covered under the policy? |
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Definition
| Only the first one because the forklift was still on the trailer |
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Term
| Section II Liability Named Insureds |
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Definition
| The named insured for any covered auto and permissive users of covered autos owned, hired or borrowed by the named insured, except the owner or anyone else from whom the covered auto is hired or borrowed (unless the covered auto is a trailer attached to a covered auto owned by the named insured); an employee, if the covered auto is owned by that employee or a member of his or her household; a partner of yours, for a covered auto owned by him or her or a member of his or her household; someone using a covered auto while in the business of selling, servicing, repairing or parking autos (unless the business belongs to the named insured); and anyone other than the named insured's employees, partners, lessee or borrower or any of their employees, while moving property to or from a covered auto. |
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Term
| TEST Why would your client purchase a garage form? |
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Definition
| Those in the business of selling, servicing, repairing or parking automobiles. |
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Term
| If you're valet parking at a parking garage that is in a garage it's under the garage policy. However, if you're parking valet at a restaurant it is under the restaurants liability. |
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Definition
| You have a restaurant and you hire an outside company to valet cars at your restaurant the company hired is responsible for the insurance. |
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Term
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Definition
| Nothing comes with the policy...everything is endorsed |
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Term
| How are autos rented or leased to others covered on the Garage form? |
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Definition
a. Must be endorsed for additional premium
b. Cannot be covered. Needs separate policy
c. Covered if customer has left their vehicle for service/repair |
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Term
| How is the product or work recall covered under the Garage form? |
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Definition
a. Must be endorsed for additional premium
b. is excluded
c. Needs a separate policy |
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Term
| What is the limitation for customer liability under a dealers policy? |
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Definition
a. No coverage
b. Can be endorsed for additional premium
c. 10,000/20,000 if customer has no auto coverage |
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Term
| Under Garage keepers coverage what does legal liability mean? |
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Definition
a. Means the insured is not liable
b. Means the insured has to be negligent for coverage to apply
c. Means the customers coverage applies |
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Term
| Under Garage keepers collision coverage, what are the standard deductibles? |
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Definition
a. No deductible applies unless selected by the insured
b. 500/1,000/2,000
b. 100/250/500
c. 100/250/500 |
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Term
| How is theft or conversion by the insured or employees covered? |
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Definition
a. Automatically covered up to policy limits
b. Must be endorsed for additional premium
c. Is excluded |
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Term
| What is the endorsement that buys back damage to the insured's own product? |
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Definition
a. Product liability endorsement
b. Broad Form Products
c. None of the above |
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Term
| Which endorsement would be used to provide coverage on a dealers autos driven or transported over 50 miles? |
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Definition
a. Automatically covered under physical damage
b. Dealers Drive-away Collision
c. Excess Collision Coverage Endorsement |
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Term
| Which endorsement provides physical damage for loss from voluntarily parting with a vehicle through trick or scheme or where there is not a valid title? |
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Definition
a. Please, dealers aren't that stupid
b. Trick or Scheme Endorsement
c. False Pretense Endorsement |
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Term
| What does Florida law say about glass breakdage deductibles? |
|
Definition
a. There is no law
b. Deductibles apply to all glass
c. Deductibles do not apply to windshield glass |
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Term
| What is the rental reimbursement provision in Mechanical Breakdown Coverage? |
|
Definition
a. It must be endorsed onto the policy
b. $25 per day $75 Maximum
c. $15 per day $75 Maximum |
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Term
| What is the policy territory in Mechanical Breakdown Coverage? |
|
Definition
a. US its territories or possessions, Puerto Rico, Canada and while being transported between these points.
b. US, its territories or possession, Puerto Rico, Canada and Mexico
c. US, its territories or possessions, and Canada |
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Term
| How may an insured prove he has complied with the provision for proper maintenance of the vehicle? |
|
Definition
a. By having someone verify they saw him service the auto
b. A written statement from a witness
c. Receipts for the work done
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|
Term
| What policy terms are available for Mechanical Breakdown? |
|
Definition
a. Terms are selected by the insured up to 5 years and 50,000 miles
b. 3 years/36,000 miles used and 4 years/48,000 miles new
c. 12 months/12,000 miles used and 36 months/36,000 miles new |
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Term
| Make sure you know the cancellation non-renewal provisions for automobile. That rule applies to all vehicles that fit the definition of auto. |
|
Definition
45 Days Notice Non-Renewal
10 Days for non payment |
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Term
| Which is most correct regarding covered symbols 21 - 29 |
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Definition
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Term
| What is a vehicle driven over 200 miles called |
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Definition
| over the road or long haul |
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Term
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Definition
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Term
| Which is included in a BAP liability |
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Definition
| a. employee injuries are excl |
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Term
| Which of the following kinds of autos owned by a business are eligible for a BAP |
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Definition
I. Private passenger type auto
II. Commercial auto
III. Livery conveyances
IV. Snow removal and road maintenance, street cleaning vehicles
Answer: c. |
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Term
| Under a dealers risk policy with no endorsements if a customer test drives a dealers vehicle and causes an accident how will insurance apply |
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Definition
a. 10/20/10 customers own coverage is excess
b. no coverage unless the customer carries less than 10/20/10 in this case coverages provided but only up to 10/20/10
c. no coverage unless the dealer purchases a coverage option from the company
d. the full limit of the dealers policy applies
Answer d. |
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Term
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Definition
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Term
| A dealer with liability and collison and no endorsement transports a car from Jacksonville to Miami (400 miles) with no endorsement what coverage is afforded? |
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Definition
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Term
| When would drive other car coverage be used? |
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Definition
a. When the vehicles driven are business or privately owned
b. When all vehicles usually driven are business owned only
c. When an insured is driving a vehicle without permission
d. When an insured is operating a vehicle in Mexico
Answer is b. |
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Term
| What does an unendorsed Garagekeepers policy include |
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Definition
a. coverage is excess of owners insurance only
b. Coverage is regardless of legal liability
c. Coverage is only if the insured is legally liable.
d. Coverage is excess or primary at the insureds option.
Answer c. |
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Term
| Whats most correct about Symbol 31 |
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Definition
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Term
| How is coverage for physical damage on Dealers Autos written |
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Definition
| b. Subject to 100% co insurance |
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Term
| What is most correct about Symbol 30 |
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Definition
| Must be used by Dealerships |
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Term
| Which is not included under a BAP policy's physical damage coverage? |
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Definition
a. specified causes of loss including sink hole
b. other than collision (comprehensive)
c. collision or overturn
d. specified cause of loss excluding sinkhole
Answer a. |
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Term
| What is a vehicle driven 50-200 miles |
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Definition
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Term
| Which business vehicle use category describes vehicles used to deliver goods to households |
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Definition
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Term
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Definition
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Term
| Which is correct under a business auto policy's liability section? |
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Definition
a. mobile transporting or intended use endorsement must be added
b. coverage applies when mobile equip is put to its intended use
c. coverage applies when transporting mobile equipment (hauled or towed)
d. No coverage is provided for mobile equipment at all
Answer c. |
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Term
| Which is not an exclusion for garage operations other than the use of automobiles under a garage liability policy. |
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Definition
a. property damage to the insureds work
b. property damage to the insureds own products
c. watercraft ashore on the premises
d. claims for product recall
Answer c. |
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Term
| What does a garage policy provide coverage for? |
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Definition
| b. those in the business of |
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Term
| What business vehicle category describes vehicles that are used to go from jobsite to jobsite |
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Definition
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Term
| Who is not an insured under a BAP |
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Definition
a. anyone moving property to or from a covered auto with a forklift
b. an owner of an auto hired or borrowed from a family member
c. one who is working in the business of selling servicing parking or storing of autos
d. none of the above
Answer a. |
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Term
| What is the endorsement that covers when a dealer accepts a stolen car in trade in |
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Definition
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Term
| Which would not be covered under a business auto policy? |
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Definition
a. private passenger auto
b. 40 passenger bus
c. 18 wheeler semi tractor trailer
d. all of the above would be eligible
Answer d. |
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Term
| What automatic coverage if any do symbols 2,3, and 4 provide |
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Definition
a. balance of the policy no reporting required
b. no automatic coverage is available
c. additional vehicles must be reported within 30 days
d. replacement vehicles must be reported within 30 days
Answer a. |
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Term
| What endorsement is used to cover damage to dealers own products |
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Definition
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Term
| Which of the following is included in a BAP policy's liability section? |
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Definition
a. Coverage while unloading with a forklift
b. Coverage while unloading with a hand truck
c. excluded while unloading with a hand truck
d. excluded under all cases
Answer b. |
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Term
| What automatic coverage if any does Symbol 7 provide |
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Definition
a. 30 days if all vehicles owned by the insured are covered under the same policy or 30 days on a replacement vehicle
b. symbol 7 is never used in Florida
c. no fault
d. none of the above are correct
Answer A |
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Term
| What is the appropriate symbol for auto dealers liability? |
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Definition
a. any symbol the dealer chooses
b. 22
c. 23
d. 21
Answer d. |
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