Basics Flashcards
0
Q
Insuring Agreement
A
States what is covered and described the type of property that will be covered
1
Q
What are Declarations?
A
They contain information such as the name of the insured, address, coverage provide etc.
2
Q
What are the Conditions
A
The ground rules. Describes the obligations of both insured and insurer
3
Q
Exclusions
A
What is not covered
4
Q
What are the six things that the business owners policy cover?
A
- Building Coverage
- Personal property Coverage
- Extra Expense Coverage
- Liability Coverage
- Medical Expenses
- Supplemental Liablitity
5
Q
What are the three types of coverages?
A
Basic
Broad
Special
6
Q
What are the named coverages?
A
Basic and Broad
7
Q
What are the four things covered under broad that are not covered under basic?
A
Falling objects
Ice snow and sleet
Collapse
Water Damage
8
Q
What are the open peril coverages?
A
Special. everything is covered but that which is excluded
