Chapter 3 - Package Policies Flashcards
What are the key exclusions from the cover provided for subsidence, ground heaven and landslides under a household buildings policy?
Normal shrinkage or settlement
Faulty workmanship or design
Demolition or alteration
Coastal or riverbank erosion
Movement of floor slabs unless the foundations are also damaged
‘Outside’ items such as tanks and pools unless the building is damaged at the same time by the same
Identify and excluded activity which can be brought back into the policy by payment of an additional premium?
Winter sports
Water-skiing
Pot-holing
Mountaineering
Tony’s travel insurance policy provides cover under all available sections of cover for him and his family. Which of the following occurrences can he not claim for under the policy
A bringing home his sons dead body
B Delay in departure of holiday flight
C Loss of his daughters limb whilst on holiday
D Loss of wife’s jewellery on holiday
E Medical expenses for him whilst on holiday
F Theft from home whilst on holiday
F theft from home whilst on holiday
An insurance document which brings together fire, special perils, theft, business interruption, money and other types of insurance for small businesses, in a single contract, is known as? A an all risks policy B an open cover A package policy A collective policy
C package policy
In travel insurance what are the main optional extensions
Failure of tour organiser
Lack of services or amenities
Loss of passport
Legal expensive
How are buildings defined in a typical household policy?
Buildings are the main structure of a private dwelling and include garages, sheds, greenhouses and other outbuildings. Swimming pools and tennis courts are also included
What are the risks that are excluded if the building is unfurnished or unoccupied for more than 30/60 day?
Theft Riot, civil commotion Burst pipes Escape of oil Breakage of glass and sanitary fittings
What are 3 automatic extra covers provided by the contents section of a household policy?
Temporary removal
Clothing g and personal effects of the insureds domestic servants
Accidental breakage of mirrors and glass on or fixed furniture
Loss of rent
What, in no more than one sentence, is the scope of liability cover in a household policy?
The buildings section covers the liability of the insur see as owner, whilst the contents section cover liability as occupier of the premises
What is the extent of cover available for freezer contents?
Cover is in respect of deterioration of the freezer contents as a result of changes in temperature or contamination
What is the scope of cover for horses and ponies under the domestic animal extension?
Cover is in respect of the following
Death from accident benefits
Economic slaughter
Loss by theft or straying
What are the basic sections of cover provided by travel insurance?
Personal accident benefits Medical and associated expenses Loss of deposits and other charges incurred as a result of cancellation Baggage, personal effects and money Personal liability Delayed baggage Hospital cash benefits Travel interruption Travel delay
What type of benefit is provided by the delayed baggage extension?
This extension covers the cost of essential items of clothing and toiletries as a result of delay of baggage for certain period after the time at which it should have arrived
What risks are covered in a typical commercial package policy?
Fire and additional perils Business interruption Theft Money Glass Assault Goods in transit Employers liability Public liability Products liability
