Boiler And Machinery Flashcards
Indirect lost coverage under boiler and machinery may be written under all of the following methods:
Valued, actual loss sustained, extra expense
The coverage extension – automatic coverage in the boiler policy covers objects at a new location for how many days?
90 days
Boiler and machinery endorsement that covers loss due to spoilage from lack of power, heat, etc. is:
Consequential damage
The maximum available for expediting expenses in a boiler and machinery coverage is:
$25,000
What is the standard deductible and boiler and machinery coverage?
$500
What boiler and machinery endorsement makes coverage excess to the other BI liability coverage that applies to the same accident?
Bodily injury liability
In the boiler and machinery, for the small business form to be written, but 80% replacement cost cannot exceed how much?
$5 million
Small business boiler and machinery policies have a required minimum property damage limit of how much?
80% of equipment replacement value
The special internal limits on expediting expense, hazardous clean up, ammonia contamination, damaged by water, within the boiler and machinery coverage are limited to announce not to exceed:
$25,000
Boiler and machinery policy covers losses caused by:
Accidents
In a boiler and machinery policy reimbursement for the cost of temporary repairs and to hasten permanent repair or replacement is covered under:
Expediting expense
The small business brought for differs from the boiler and machinery coverage form in what ways?
Property damage, business interruption an extra expense coverage applies blanket, spoilage may be included, no coinsurance cause, automatic coverage for new locations for 90 days
Which must be in a boiler and machinery policy for it to be complete:
Declarations, common policy conditions, coverage for, object definitions for
To recover under a boiler policy on replacement cost basis, the insured must repair or rebuild within:
18 months
