Personal Watercraft Coverage - Chapter 7
Coverage C of the Homeowners policy covers __________ on watercraft, including their trailers, furnishings, equipment and outboard motors. A. $1500 B. $500 C. $5000 D. $250
A
The insured is covered under a Watercraft policy and asks the agent about a "lay-up" period credit to get a reduction in the premium. The dates of the lay-up period are specified in the policy. There is an emergency and the insured must use his boat in a life saving event. The boat is damaged and sinks. Under what circumstances would coverage apply? A. The loss would not be covered because the insured operated the boat during the "lay-up" period B. Only if the insurance company is notified within 10 days of the emergency use C. Only the salvage of the boat is covered when required under Maritime law D. When an additional premium is received by the insurer when the limitation is removed
B
How are losses evaluated for payment under the Watercraft and Yacht policies? A. Agreed amount value B. Functional replacement costs C. Actual cash value at the time of the loss D. Replacement cost value at the time of the loss
C
If a named insured acquires additional property after the policy period begins, that property is covered for a maximum of __________ days after the date it came into the insured's possession. A. 4 B. 10 C. 14 D. 18
C
The insured carries a Yacht Policy and is pulling a water skier. The skier is a family member and is injured. What coverage might apply to this accident? A. No coverage would apply B. Liability coverage and defense coverage would apply C. Medical payments coverage D. only the injured party's health insurance would cover the claim
C
The insured is transporting his yacht on its trailer and pulling it with his truck. The trailer separates from the truck hitch and the boat strikes another vehicle. There is property damage and bodily injury to a third party. The yacht and trailer are a total loss. What coverage would apply under the Yacht policy? A. All damages would be covered B. Only the third party damages would be covered C. Only the damage to the Yacht and trailer D. None of the damages are covered
C
The insured owns a 20 foot fishing boat with a 50 horsepower motor. Which policy would be best suited to cover a theft loss on a lake? A. Homeowner Policy B. Personal Article Floater C. Watercraft policy D. Yacht policy
C
Medical payments coverage of a Watercraft policy covers all necessary medical expenses incurred by a covered person up to __________ following a covered accident. A. 1 year B. 6 month C. 5 years D. 3 years
D
Mr. Cato carries a watercraft policy covering his 25 foot pontoon boat. The boat is powered by a 150 h.p. motor. He transports it to the Florida Keys and operates the craft 20 miles out to sea. The boat capsizes and is destroyed. What coverage would apply to the boat? A. The ACV value of boat B. The motor and accessories only C. Damage to the hull only D. No coverage would apply
D
Under the Yacht policy, what coverage must be added to cover bodily injuries to the captain and crew? A. Medical Payment coverage B. Uninsured / underinsured boater insurance C. Bodily injury liability coverage D. Jones Act coverage for the members of the crew
D
