9 COMMERCIAL INS / PROPERTY FORMS Flashcards

0
Q

COMMERCIAL PROPERTY COVERAGE B

A

BUSINESS PERSONAL PROPERTY
STOCK
FURNITURE
FIXTURES

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1
Q

COMMERCIAL PROPERTY COVERAGE A

A

PERMANENT FIXTURES
LAWNMOWERS AND ITEMS USED TO SERVICE PROPERTY
BUILDING
OTHER STRUCTURES ON PREMISES

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2
Q

COMMERCIAL PROPERTY COVERAGE C

A

PERSONAL PROPERTY OF OTHERS
WITHIN 100`
$2500 LIMIT
NOT BAILEE CUSTOMERS PROPERTY

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3
Q

COMMERCIAL PROPERTY NOT COVERED

A

AIRCRAFT
FOUNDATIONS
MONEY
PROPERTY INSURED ELSE WHERE

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4
Q

WHAT IS EXCLUDED ON BUSINESS AND PERSONAL PROPERTY

A

LAND, FOUNDATION PIPES, DRAINS
MONEY, SECURITIES
DETACHED SIGNS
BAILEE PROPERTY

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5
Q

EXTENDED COVERAGE IF 80% COINSURANCE

A

30DAYS FOR NEWLY AQUIRED BLDG AND PERSONAL PROPERTY
10K FOR PERSONAL PROPERTY TEMP OF PREMISES
1000 FOR ATTACHED SIGNS

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6
Q

ADDITIONS FOR BLDG AND PROPERTY COVERAGE

A

30DAYS FOR PRESERVATION
25% ACTUAL DEBRIS REMOVAL + 10K IF NEEDED
2.5K FOR ELECTRONIC DATA PER YEAR

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7
Q

COMMERCIAL CONDO MASTER POLICY

A

PERSONAL PROPERTY OWNED BY THE ASSOCIATION AND THE BLDG

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8
Q

COMMERCIAL CONDO UNIT OWNER COVERS:

A

BUISNESS PERSONAL PROPERTY

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9
Q

THE 2 BUSINESS INTERRUPTION COVERAGE

A

BUSINESS INCOME COVERAGE(RETAURANTS, BOWLING, GROCERY STORE)

EXTRA EXPENSES COVERAGE: (BURNED DOWN, MOVE OPERATIONS TO ANOTHER BLDG

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10
Q

CAUSES OF LOSS UNDER COMMERCIAL PROPERTY

A

BASIC-INCLUDES SINKHOLE COLLAPSE AND SPRINKLER LEAKAGE
BROAD-ADD WEIGHT OF ICE
SPECIAL-OPEN PERIL; EXCLUDES FLOOD AND EARTHQUAKE

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11
Q

COMMERCIAL ENDORSEMENTS

A

ORDINANCE OR LAW
SPOILAGE
PEAK SEASON-FOR A SEASONAL INVENTORY INCREASE/TIME CONTROLLED
VALUE REPORTING-FOR FLUCTUATION IN THE VALUE OF THEIR INVENTORY

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