All of the following statements are FALSE regarding garage physical damage coverage EXCEPT
A: Specific cause-of-loss coverage is not available for physical damage coverage
B: No coverage is provided for any auto stored for more than forty five days at a l
No coverage is provided for any auto stored more than forty five days at a location not shown in the declarations
In the personal auto policy, owned trailers being towed by an insured auto are automatically covered for?
A: Comprehensive (other-than-collision) coverage
B: Collision coverage
C: Uninsured motorists coverage
D: Towing coverage
Uninsured motorist coverage
Surely Insurance Co decides to cancel Mandy's insurance policy for obtaining insurance through fraudulent misrepresentation. The effective date of cancellation is May 1. Mandy receives her notice in the mail on May 12. Which of the following is true?
A: M
The cancellation is considered invalid
Which of the following endorsements is used by individual business owners who use company vehicles for personal use rather than purchasing a personal vehicle?
A: Individual named insured
B: Drive Other Car
C: Additional insured-Lessor
D: Hired Auto Specif
Individual named insured
Which of the following symbols is available to an insured with vehicles subject to no-fault coverage?
A: Symbol 5
B: Symbol 6
C: Symbol 7
D: Symbol 9
Symbol 5
Why don't commercial auto coverage forms automatically include medical payment coverage?
A: The business that owns the vehicles must be self-insured for medical payment coverage
B: Commercial auto coverage is for damage to vehicles
C: Any person occupying
Often any person occupying a commercial vehicle would be covered under a workers compensation policy.
An auto dealer reported $500,000 worth of automobiles on its lot at the end of May to its insurer. On June 10 it received $200,000 worth of cars. By June 20 the dealership sold $100,000 worth of cars. A hail storm on June 21 caused $50,000 worth of damage
41,700
All of the following statements are true regarding physical damage coverage EXCEPT
A: The limit of liability is the greater of the ACV of the vehicle at the time of loss or the amount necessary to repair or replace the vehicle
B: Losses to nonowned autos
The limit of liability is the greater of the ACV of the vehicle at the time of the loss amount necessary to repair or replace the vehicle
If a person is using an auto with the belief that he is entitled to do so, subrogation rights under a personal auto policy would apply to all coverages EXCEPT
A: Physical damage
B: Uninsured motorist
C: No-fault medical payments
D: Liability
Physical damage
An insured's auto strikes a deer, causing the insured to lose control of the car and run into a tree. The total damage to the auto is $6,000 dollars. How will this loss be covered?
A: $3,000 would be paid under the other-than-collision; $3,000 would be pa
$6,000 would be paid under the other-than-collision coverage
Under the limits of insurance provision found in the Physical Damage Coverage Form in a Commercial Auto policy, how much will an insurer pay to repair or replace a covered auto?
A: The greater of the actual cash value or the cost to repair or replace a co
The lesser of the actual cash value or the cost to repair or replace a covered auto
Which of the following personal auto coverages would pay for the insured's travel expenses and the loss of earnings while involved in the settlement process of a covered loss?
A: Medical payments
B: Comprehensive coverage
C: Collision coverage
D: Liabilit
Liability coverage
Which of the following circumstances would be EXCLUDED under medical payments coverage of a personal auto policy?
A: The insured's mother is injured while exiting the insured vehicle
B: The insured is struck by another vehicle while crossing the street
C:
The insured is injured while driving his motorcycle on his resident premises
With respect to commercial auto policies, the Garage coverage form provides liability protection for all of the following EXCEPT
A: The insured's business products and work preformed
B: The insured's business income losses due to personal injury
C: The in
The insured's business income losses due to personal injury
To preform work on a customer's car, a mechanic in an auto shop had to put the vehicle on a service hoist. The hoist collapsed, damaging the vehicle and injuring the mechanic. In regard to the garage coverage form, which of the following statements is tru
No coverage is applicable
The garage coverage form does not cover property damage for a customer's car that is on a service hoist or for bodily injury.
A commercial auto coverage form that is designed for insureds engaged in the business of transporting goods for others is a
A: Garagekeepres coverage form
B: Cargo carries form
C: Truckers coverage form
D: Commercial carrier form
Truckers coverage form
It was developed to help handle the special insurance needs of businesses that use their vehicles to haul goods for others