THE BUSINESSOWNERS POLICY -- MODULE D
The optional coverage for "Money and Securities" under a standard Businessowners policy provides for the loss of money and securities used in the insured's business as a result of all of the following, EXCEPT:
Fraud.
The "Employee Dishonesty" optional coverage of the Businessowners policy covers all of the following losses due to the dishonest acts of employees, EXCEPT:
Loss of valuable papers and records.
Which of the following statements regarding the optional coverage of a standardized Businessowners policy is TRUE?
Optional coverages usually require an additional premium.
Sam has his current business locations covered under a standard Businessowners policy. He purchases a new building to add another business location. Which of the following statements best describes how coverage will apply for Sam's newly acquired property?
Sam will have $250,000 of coverage for 30 days or until he reports his newly acquired property to the insurer, whichever comes first.
Selena would like to select an optional coverage for her standard Businessowners policy to cover a large outdoor business sign, not attached to her building, that she owns. Which of the following statements is CORRECT regarding this optional coverage?
The amount of the optional coverage for outdoor signs is selected by the insured and scheduled on the Businessowners policy.
All of the following statements are TRUE regarding the standard Businessowners policy coverage extension for "Business Personal Property Temporarily in Portable Storage Units", EXCEPT:
The coverage is provided for rented storage units away from the insured premises.
Which of the following endorsements must be attached to a standard Businessowners policy for coverage to apply to a businesses freezer that was damaged by the interruption of a power source?
Utility Services - Direct Damage endorsement.
The limit of insurance for the standard Businessowners policy coverage extension for "Personal Property Off-Premises" that applies to "property in transit" is:
$10,000
How much coverage is provided by the "Accounts Receivable" coverage extension of the Businessowners policy for loss to accounts receivable records off-premises?
$5,000
