Insurance 3A Flashcards
A man runs over a log and damages his car. Will comprehensive or collision cover this?
collision, because the car was in motion.
Liability without fault
Absolute or Strict liability
Coverage for reasonable expenses incurred by an insured in order to continue normal operations after a loss.
Extra expense coverage
A release becomes settled when:
when the settlement check is cashed.
A New Hampshire insured has wrecked his vehicle. The insurer has asked for an estimate of damage. Who is responsible for the fee for this first estimate?
The insured
In a covered loss under a fire policy, the company must start the adjustment of the loss within___days after receipt of notice of loss.
15
Is fire to the building caused from the break in covered under a premise burglary claim?
No
Which of the following is not an “additional coverage” under homeowner’s liability Section II coverage?
Payments made by the insurer to cover the claim
A fire in an insured’s restaurant burns the kitchen walls and causes smoke damage to the entire interior. Water used to extinguish the fire causes extensive damage to floors and furnishings. The water damage is BEST described as:
A direct loss
Is depreciation included in an insurance property estimate of damages?
No
Under the business auto policy, the endorsement used to protect the owner of a leased vehicle is:
Additional insured - lessor
Which endorsement is necessary to cover the damage caused to a freezer by the interruption of a power source under a BOP?
Utility Services - Direct damage
Coverage G under the Farm forms covers
barns, silos, fences
In the adjustment of auto claims, “local market area” means?
75 miles within where the car is principally garaged.
Good ‘Ole Boy Brewing acquires another brewery. Assuming there is no CGL in force for the newly acquired entity, how long will the new entity be automatically considered an insured under the current CGL for Good ‘Ole Boy Brewing?
From the time of acquisition and 90 days thereafter.
