[Prop&Cas] Ch10
A mandatory deductible of what amount applies to completed operations claims under Section II of the Garage Coverage Form?
$100
What is the maximum the Supplementary Payments coverage of a BAP will pay for the cost of bail bonds?
$2k
Which of the following is not included in the definition of mobile equipment?
3/4 ton pickup
Which Commercial auto symbol is unique to the Garage Coverage Form?
30
Which would be covered under the Business Auto Coverage Form?
A borrowed truck used in the insured's business
Which vehicle would not be eligible for a Business Auto Coverage Form?
A forklift used in the business
Which of the following would not be eligible for coverage under the Business Auto Coverage Form?
An employee injured using the employee's personal auto in insured's business
Which of the following would not covered by a Business Auto Policy?
An employee is injured while driving a covered auto
ACV is generally used for which of the following types of claims?
Auto Physical Damage
Which type of Commercial Auto policy would be best suited for a business that wished to cover its owned and hired autos against property damage only?
Auto Physical Damage Coverage Form, only provides physical damage coverage
Which type of Commercial Auto policy would be best suited for a company whose employees used their own vehicles to make sales calls?
Business Auto Coverage Form
Which source of liability would a trucker be liable for under a Motor Carrier Coverage Form?
Cargo damage from overturn
Which of the following is not automatically included in a Garage Coverage Form?
Contractual Liability
Choose the statement that is false regarding the Business Auto Coverage Form
Coverage may be written on owned private passenger autos
BAP liability coverage would not apply to which of the following?
Damage to property in the insured's care
Which of the following claims would be excluded under the Business Auto Policy?
Damage to property in the insured's care, custody, or control
Section II of the Garage Coverage Form does not cover:
Damage to the customer's car in the insured's care
All of the following are general conditions of the BAP, except:
Duties in the event of an accident
All of the following are loss conditions of the BAP, except:
Examination of Your Books and Records
The Truckers Coverage Form is designed for:
Firms in the business of transporting goods or commodities
The endorsement providing evidence of financial responsibility for motor carriers is know as:
Form MCS-90
Which type of Commercial Auto policy would be best suited for a parking garage business?
Garage Coverage Form
Section III of the Garage Coverage Form provides which coverage?
Garagekeepers coverage
What is the name for insurance covering the amount an insured is legally obligated to pay for loss to a customer's vehicle in the insured's care?
Garagekeepers coverage
Specified Causes of Loss under Physical Damage Coverage of the Business Auto Coverage Form includes all of the following, except:
Glass breakage
For which of the following persons is the Drive Other Car endorsement intended?
Individuals who do not own an auto
All of the following regarding the Garage Coverage Form are correct, except:
It provides coverage for product recall
Under the Motor Carrier Coverage Form, Trailer Interchange Coverage would cover which of the following losses?
Joe's company is legally liable for physical damage sustained by a non-owned trailer
Which of the following is true of the Towing coverage provided under Section III of the BAP?
Labor must be performed at the place of disablement
How is lost or damaged property valued under the BAP?
Lesser of ACV. or the cost to repair or replace
The limit of insurance that the insurer will pay for a physical damage loss is the:
Lesser of the ACV or the cost to repair or replace with like kind and quality
Which 1980 regulation deregulated the trucking industry?
Motor Carrier Act
The Business Auto Coverage Form is intended for which of the following businesses?
Owned, leased, hired or borrowed private passenger autos, trucks, trailers and semi-trailers
Garagekeepers Coverage will cover which of the following claims?
Physical damage to a customer's car that is in the care and custody of an insured
The Garagekeepers Coverage of the Garage Coverage Form covers the liability of:
Physical damage to a customer's car that is in the care and custody of an insured
Section II (Liability) of the Garage Coverage Form covers which of the following?
Property damage for which the insured is legally responsible
The Garage Liability section of the Garage Coverage Form covers which of the following?
Property damage for which the insured is legally responsible
Which of the following businesses would not be eligible for coverage under the Garage Coverage Form?
Rental car agency, Garage Coverage Form provides automobile liability and physical damage coverage, as well as General Liability Protection for businesses in the sale, service, or storage of automobiles
All of the following regarding Commercial Auto coverage are true, except:
Section II of the Garage Coverage Form does not include completed operations coverage
Which section of the Garage Coverage Form provides coverage for autos in the care, custody and control of the insured?
Section III, know as Garagekeepers coverage, provides insurance for amounts the insured is legally obligated to pay for loss or damage to a customer's vehicle and/ or equipment while it's in the insured's care for servicing, repair, parking, or storing
Which section of the Garage Coverage Form provides physical damage coverage for the insured's covered autos?
Section IV, provides physical damage coverage for covered autos the named insured owns, hires, rents, leases, or borrows in the same fashion the business auto coverage form provides coverage
Choose the false statement about commercial auto coverage
Specified Peril Coverage pays for damage to an insured vehicle from almost any cause except collision
Which Business Auto Symbol is the most broad of all Symbols?
Symbol 1 includes any auto, whether owned or not by the insured if it is used in the insured business
Which statement regarding the Medical Payments Coverage of the Business Auto Policy is true?
The BAP does not automatically include Medical Payments Coverage
Which of the following is true regarding the Medical Payments coverage under the Business Auto Policy?
The BAP does not automatically include Medical Payments coverage
Which of the following is true concerning the Limit of Liability under the Business Auto Coverage Form?
The Limit of Liability is the most the policy will pay for any single accident
Which section of the BAP provides auto medical payments coverage?
This coverage is available by endorsement only
Which of the following would be needed by trucking company that hires independent truckers who may hold the insured liable for their accidents?
Trailer Interchange Coverage
Which of the following would not be a covered auto under the Business Auto Policy Mobile Equipment endorsement?
Truck operated on public roads
A firm that transports goods of others, rather than its own goods, would purchase a:
Truckers Coverage Form
Which of the following is designed for a firm that transports goods of others, rather than its own goods?
Truckers Coverage Form
Physical damage coverage under a Business Auto Coverage Form includes all of the following, except:
Uninsured Motorist Coverage
When an employee is injured in an auto accident while on company business, he/she would be covered under:
Workers' Compensation Insurance
The Garage Coverage Form may be written for all of the following, except:
car rental agency, not eligible under this form, which is intended for businesses that sell, service, or store automobiles
Which of the following carries people and property for a fee from one place to another?
common carrier, a business, individual, or organization that carries persons or property for a fee, from one place to another. The persons or property being transported are, or belong to, the general public
