Guarantee Exam - Casualty

The garage coverage form is written to cover the insurance needs based on the business of selling, repairing, servicing, or storing automobiles. Which of the following coverages are not included in a garage policy? A) Physical damage on a customer's auto B) Auto liability C) Premises and operations liability D) Product liability

A) Physical damage on a customer's auto

Liability coverage of a business auto policy will pay only a _______ amount of lost earnings per day, and only on those days the insurer requires the insured to be somewhere other than at work.

Limited

Under a workers compensation policy, when will premiums be determined?

When the policy period ends. The initial premium is considered a deposit and is subject to adjustment at the end of the policy period.

Supplementary payments under the personal auto policy promises to pay the cost of bail bonds up to $____ provided the accident results in BI or PD

$250

Guaranteeing future dividends is considered to be an unfair or deceptive act known as ___.

Misrepresentation