P & C Unit 19 Checkpoint

The standard deductible for the businessowners policy applies to

civil commotion

The businessowners policy is designed for

small businesses

Debris removal is an additional coverage that Adam selected to have added to his businessowners policy. Adam had a fire that resulted in $100,00 property damage loss, and an additional $10,000 cost for debris removal. How much will the debris removal additional coverage pay adam?

$10,000

Patti opened up a new location for her business. Under the newly acquired or constructed property coverage extension, how much personal property would be covered at her new location?

$100,000

One of the common underwriting requirements for a businessowners policy is that a small business must have less than

100 employees

Which of the following is an optional coverage in the businessowner policy that may require that the insured to pay an additional premium?

Equipment breakdown

In the policy declarations, ABC Company has Partnership as the designation listing the named insured. Which of the following individuals or groups would NOT be insured in this particular business policy?

Executive officers and directors

Susan has an additional coverage that helps her cover the costs of moving to a new location and renting equipment and space while her building is repaired from a fire. Which of the following additional coverages does Susan most likely have?

Extra expense

Which of the following covers an insured's legal liability from loss that arises from bodily injury, property damage, and personal advertising injury?

Liability coverage

Which of the following losses would be covered under the businessowners policy?

Loss caused by a power failure the occurs on the insured's premise

All of the following statements regarding Coverage A--building coverage are true EXCEPT

Outdoor fences, signs, trees, shrubs, and plants a covered

Which of the following is NOT excluded from bodily injury and property damage liability losses?

Personal injury resulting from false arrest, detention, or imprisonment

Which of the following statements is NOT correct in regards to Medical Expense coverage in a businessowners policy?

The policy will pay reasonable expenses within 5 years of the date of the accident.

Which of the following endorsements covers loss or damage to property caused by an interruption in water, communication, or power supply service?

Utility services-direct damage coverage endorsement

A business that delivers materials or services to an insured, accepts the insured's products of services, manufactures products for delivery to the insured's business is known as

a dependent property

Property coverage in the businessowner policy is covered on

an open peril basis

All of the following are additional coverages available in businessowners policy EXCEPT

flood coverage

Which of the following classes of business personal property would NOT be covered in a businessowners policy?

land

All of the following statements about the hired auto and nonowned auto liability endorsement are true EXCEPT

this endorsement covers the employee, not the business