Term
| Business Auto Coverage Form |
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Definition
| A form, which is a part of the Commercial Auto Coverages and is designed to cover the auto exposures of businesses, other than truckers or garages. |
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Term
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Definition
| A form containing conditions that apply to all coverages issued under the Commercial Package Policy program. |
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Term
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Definition
| A coverage form that is part of the Commercial Auto Coverage Part and which provides coverage for garage businesses (dealers, service stations, garages, parking lots, etc). Includes coverage for liability, physical damage and garagekeepers losses arising out of owned, non-owned and hired autos. |
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Term
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Definition
| Ordinary cars, station wagons and jeeps, utility autos and utility trailers designed to be pulled by a private passenger auto. |
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Term
| What vehicles are covered when a Symbol 1 "Any Auto" is on the declaration page? |
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Definition
| This means the policy covers in auto owned, hired, or non-owned by the insured. Symbol 1 may only be used for liability coverage. As coverage is automatic, there is no requirement for the insured to report acquisition of new or replacement automobiles. |
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Term
| What vehicles are covered when a Symbol 2 "Owned Autos only" is on the declaration page? |
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Definition
| This symbol covers all automobiles owned by the insured throughout the policy period. Here again, as coverages are automatic, there is no requirement for the insured to report acquisition of new or replacement automobiles. Symbol 2 may be used for liability, medical payments, uninsured motorist, and physical damage coverages. |
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Term
| What vehicles are covered when a Symbol 3 "Owned Private Passenger Autos Only" is on the declaration page? |
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Definition
| Symbol 3 is very much like Symbol 2 except coverage applies only to owned private passenger automobile. Any vehicle, which is not a private passenger automobile, would not have coverage. |
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Term
| What vehicles are covered when a Symbol 4 "Owned Autos Other Than Private Passenger Autos Only" is on the declaration page? |
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Definition
| Symbol 4 is very much like Symbol 2 except coverage does not apply to private passenger autos. Any vehicle, which is a private passenger automobile, would not be covered. Symbol 3 and Symbol 4 combined are the equivalent of Symbol 2. |
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Term
| What vehicles are covered when a Symbol 5 "Owned Autos Subject To No-Fault" is on the declaration page? |
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Definition
| Symbol 5 provides coverage for all of those required to be covered under the Florida no-fault law. Symbol 5 only applies to personal injury protection coverage. |
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Term
| What vehicles are covered when a Symbol 7 "Specifically Described Autos" is on the declaration page? |
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Definition
| Symbol 7 is used to cover specific autos. The covered auto is designated as covered on the autos schedule. Symbol 7may be used for any of the coverages. |
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Term
| What vehicles are covered when a Symbol 8 "Hired Autos only" is on the declaration page? |
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Definition
| Symbol 8 is used to cover vehicles, which are hired, rented, leased, or borrowed from other than employees or members of their household. Symbol 8 may be used for liability in physical damage coverages. |
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Term
| What vehicles are covered when a Symbol 9 "Non-Owned Autos Only" is on the declaration page? |
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Definition
| Symbol 9 is used to cover vehicles, which are not owned, hired, rented, leased, or borrowed except from an employee or member of their household. |
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Term
| What is covered under Section II of the business auto policy? |
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Definition
| The business auto policy covers the legal liability of the insured, including defense costs and supplementary payments. |
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Term
| How is property carried in or on a business auto covered? |
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Definition
| Damage to property owned, transported by, or in the care, custody, or control of the insured is not covered. Liability arising from the handling of property is not covered while the property is not in or upon the vehicle. |
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Term
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Definition
| In automobile insurance, a broad physical damage coverage, which covers all property losses except collision and those perils or property, which are specifically excluded. |
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Term
| What perils does comprehensive physical damage coverage cover? |
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Definition
| " Comprehensive coverage is basically the same coverage as offered for "other than collision" of the personal auto policy. Comprehensive coverage covers all perils, which are not specifically excluded. Losses other than collision or overturn are covered. In addition, comprehensive coverage covers loss from glass breakage, birds or animals, and falling objects or vessels: these objects are covered as comprehensive losses even though a collision may be involved. " is the correct response to: |
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Term
| What perils are covered under the "specified causes of loss" coverage? |
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Definition
| " Specified causes of loss coverage covers the specific perils of fire, lightning, explosion, theft, windstorm, hail, earthquake, flood, vandalism or malicious mischief, or the sinking, burning, collision or derailment out of a conveying transport. " is the correct response to: |
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Term
| What perils are covered under collision coverage? |
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Definition
| Collision coverage provides coverage for collision with another object or overturn of the vehicle. |
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Term
| What is the definition of "accident"? |
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Definition
| "Accident" is defined as a continuous or repeated exposure to the same condition resulting in bodily injury or property damage that is neither expected nor intended by the insured. |
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Term
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Definition
| An endorsement to the Business Auto Policy, which covers named persons for non-business use of autos, they do not own. Used when the named insured furnishes an auto to another, such as an employee, who does not own his or her own car. |
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Term
| What coverage is provided by the named individuals broadened PIP endorsement? |
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Definition
| This endorsement provides personal injury protection coverage to the individual named on the endorsement. |
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Term
| What coverage is provided by the individual named insured endorsement? |
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Definition
| This endorsement provides coverage to the individual named broadening coverage to that of a personal auto policy. Companies who furnish a company vehicle to an employee if the employee does not have a personal auto policy use this endorsement. |
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Term
| What coverage is provided by the drive other car coverage endorsement? |
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Definition
| " This endorsement provides coverage to the individual while driving a non-owned vehicle. Companies who furnish a company vehicle to an employee if the employee does not have a personal auto policy use this endorsement. If the employee does not have a personal auto policy, the employee would not have liability coverage while driving a private passenger vehicle belonging to another person. " is the correct response to: |
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Term
| How are business automobiles rated? |
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Definition
| Business automobiles are rated based on the territory where they are garaged, their radius of operation, the size, the type of vehicle, and the business use of vehicle. The rating for physical damage is also based upon the original cost and the age of the vehicle. |
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Term
| Describe the business use categories used for rating purposes. |
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Definition
| " Use of the vehicle is divided into three categories - Retail, Service and Commercial. Retail use is typically used for vehicles used to deliver goods and merchandise to individual households. Service use is typically used for vehicles which go from one job site to another. Commercial use is for vehicles not falling into either the retail or service use categories. " is the correct response to: |
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Term
| What is the business of a trucker? |
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Definition
| A trucker is a person or business whose business is hauling the goods of others. |
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Term
| What coverage is provided under Section III -Trailer Interchange Coverage. |
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Definition
| " Trailer interchange coverage provides physical damage coverage for trailers OWNED BY OTHERS. Coverage can be purchased on a comprehensive, specified perils, and/or collision basis. This section does not cover claims for loss of use. " is the correct response to: |
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Term
| What vehicles are covered when a Symbol 30 is on the declaration page? |
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Definition
| Symbol 30 covers autos left with the garage for service, repair, storage and safekeeping. |
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Term
| What vehicles are covered when a Symbol 31 is on the declaration page? |
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Definition
| Symbol 31 covers a dealer's autos and autos held for sale by non-dealers or trailer dealers for physical damage. |
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Term
| What are the additional exclusions found in the garage policy? |
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Definition
| " The Garage policy excludes automobiles, which are leased or rented to others; coverage is provided for a vehicle rented to a customer while the customer's automobile is being serviced or repaired. Additional exclusions include (1) any watercraft or aircraft except watercraft on the premises, (2) property damage to the insured's own products or to work performed by or on behalf of the insured if the damages caused by defects existed when the product was sold or if the defect results from the work itself, (3) loss of use of property, if not physically damaged, and caused by the insured's delay or failure to perform, or for the failure of the insured's product to meet the quality warranted for the level of performance represented (this exclusion does not apply to a sudden and accidental claim to products or work performed after put to use by another), and (4) claims for product or work recall. " is the correct response to: |
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Term
| What coverage is provided for garage customers of a dealer? |
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Definition
| " For a dealer risk, garage customers are not insureds if they have their own liability coverage; if garage customers do not have their own insurance the garage form will cover the customers. The garage customer is only covered for minimum liability limits of 10/20/10; the garage policy may be endorsed to provide liability protection to the garage customer up to the full limits carried by the garage. " is the correct response to: |
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Term
| What coverage is provided by the garagekeepers coverage? |
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Definition
| Garagekeepers coverage provides for damage for which the garage is liable to customer's cars, which the insured has for servicing, repairing, storing, or parking. |
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Term
| What are the liability basis on which garagekeepers coverage may be issued? |
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Definition
| " The basic policy is issued on a legal liability basis. The legal liability basis means the garage must be legally liable for a loss before the policy responds; legal liability would be based on the negligence of the garage. The insured can also purchase garagekeepers liability, which will pay for a loss regardless of if the garage is legally liable. Coverage can be purchased on either a direct physical damage basis (the garage policy would pay claims on a primary basis) or coverage can be purchased on an excess basis (the garage policy would pay claims over any other collectible insurance the customer may have)." |
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Term
| Describe the dealer's blanket reporting and non-reporting form? |
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Definition
| The dealer's coverage can be written on a blanket-reporting basis (the dealer buys a maximum limit of liability and then reports actual values of vehicles held for sale on either a monthly or quarterly basis) or on a non-reporting basis subject to a maximum limit stated on the policy. |
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Term
| What are the additional physical damage coverage exclusions for garagekeeper's coverage? |
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Definition
| " The exclusions for the physical damage coverage are the same as for the business auto policy. In addition, there is no coverage for vehicles leased or rented to others (except an auto rented to a customer who has left their car for service or repair), autos used in organized racing or similar contest, or loss caused by the insured voluntarily parting with a vehicle by use of a trick, scheme, or under false pretense." |
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Term
| Describe the broad form products endorsement. |
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Definition
| This endorsement provides coverage for damage to the property of others while in the insured's care, custody or control. This coverage is subject to a $250 deductible per accident. |
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Term
| Describe the dealer's drive-away collision endorsement. |
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Definition
| This endorsement provides physical damage coverage for autos being transferred from a point at purchase or distribution to a destination, which is more than 50 miles from the purchase point. |
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Term
| Describe the false pretense endorsement. |
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Definition
| " This endorsement provides coverage for a dealer who voluntarily parts with a covered automobile by trick or scheme. The dealer is also covered if he purchases or acquires an auto from someone who does not have legal title. " is the correct response to: |
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