Ins Exam J - Auto Ins -Comm Auto

Question 1

COVERAGE FORMS AVAILABLE

Answer 1

Include:

• Business auto covrg form - covers vehicles used to conduct business
  
  • this form not designed to cover garages, truckers, and motor carriers
• Garage covrg form - a pkg of covrgs suited for auto dealers

Question 2

COVERAGE FORMS AVAILABLE - NEED SEPARATE COVERAGE

Answer 2

• Truckers covrg - covers vehicles owned by Cos and independent truckers used to transport or haul goods and other types of property
• Business auto physical damage form
• Motor carrier

Question 3

BUSINESS AUTO COVERAGE FORM

Answer 3

Covers vehicles used to conduct business

• Does not cover vehicles
  
  • sold
  • stored
  • held for repair for customers

Question 4

BUSINESS AUTO POLICY SECTIONS 1-3

Answer 4

Section I - Covered Autos
- Designates vehicles covrd under the policy
Section II - Liability Coverage
- Covers BI or PD resulting from ownership, maintenance, or use of a covrd auto
Section III - Physical Damage Covrg
- Provides physical damage covrg for covrd vehicles
(oppose to I, II, III on personal)

Question 5

BUSINESS AUTO POLICY SECTIONS 4-5

Answer 5

Section IV - Business Auto Conditions
- Contains loss conditions and general conditions similar to other applicable ins policies, incl
- settling PD claims, legal action against the insurer, and other ins
Section V - Definitions
- Contains definitions similar to other applicable ins policies, incl - Accident, auto, BI, and PD

Question 6

BUSINESS AUTO SYMBOLS

Answer 6

• Symbol 8: Hired autos only (leased, hired, rented, or borrowed)
• Symbol 9: Nonowned autos only (vehicles not owned by insured used on behalf of insured in course of business - eg: EE owned vehicle used to pick up biz supplies)

Question 7

Definition of Auto Under Business Auto Policy *

Answer 7

Included:

• Mobile equipment
• Trucks
• Trailers

Question 8

BUSINESS AUTO POLICY EXCLUSIONS

Answer 8

Liability Excl
- incls: expected or intended injury; contractual liability; w/c; completed operations; pollution; ware; and care, custody, or control

The liability and PD exclusions in the business auto policy are similar to other comparable ins policies and incl

Question 9

GARAGE COVERAGE FORM

Answer 9

The garage covrg form is designed specifically for VEHICLE DEALERS, including dealers that have repair operations on the business premises (ie: auto dealers, truck and truck tractors dealers, commercial trailer dealers, etc)

(what is covered under Garage is not covered comm auto)

Question 10

GARAGE COVERAGE FORM - PROGRAM INCLUDES

Answer 10

covrgs under the specially designed garage program incl

• Premises - location where insured conducts business
• Operations - business conducted
• Contractual Liability (incidental) - business contracts w/ insured
• Products n completed ops - inventory n goods n svcs sold after intended use
• Premises medical pymnts - injuries to customers
• Dealer’s physical damage - damage to auto dealer’s autos including those used in biz ops or those held for sale
• Auto Liab - depending on nature of op

Question 11

Garagekeepers Coverage*

Answer 11

Type of bailee covrg designed to covr the auto biz for damage to customer’s prop arising out of general ops of the biz