TB - Commercial Inland Marine Flashcards
Which of the following commercial I land marine coverage forms covers sum due the insured from customers which are u collectable due to loss or damage of records?
Equipment dealers
Electronic data processing
Valuable papers and records
Accounts receivable
Accounts receivables
Common carriers are responsible for damage to customer goods they transport except for damage resulting from:
Acts of God
Traffic Accidents
Load shifting
Poor vehicle maintenance
Acts of God
The commercial Inland Marine coverage from “jeweler a block” excludes loss resulting from:
Earthquake
Shortage found upon taking inventory
Unexplained disappearance
All of the above
All of the above
The Commercial Inland Marine coverage form “valuable papers and records” includes coverage for:
I. Money and securities
II. Deeds, drawings, and maps
III. Books, files, and Mortgages
I and II
I and III
II and III
II only
II and III
The _______ Isabel ideal form of protection for the frequent shipper of goods.
Trip transit policy
Annual transit policy
Monthly transit policy
Common carrier motor truck cargo policy
Annual transit policy
Mr. Jones owns a jewelry store. His wife takes a very valuable necklace and wears it to a party. It is stolen. How will the jeweler’s block policy respond to cover the loss?
The policy will cover the loss
The loss will be denied
The policy will pay the loss on an actual cash value basis
The policy will pay replacement cost less depreciation
The loss will be denied
XYZ Road construction company has a fleet of equipment that consists of bulldozers, backhoes, and road scrapers. The owner desires physical damage coverage to cover the equipment. Which of the following types of insurance contracts would be appropriate to provide the proper coverage?
Commercial property coverage
General liability coverage
Auto physical damage coverage
Contractors equipment floater
Contractors equipment floater
Savage Construction company has delivered and installed a large boiler in a commercial building. The owner has not yet accepted not paid for work. What type of policy should Savage Construction purchase to cover the work until accepted?
Builders risk
Installation Floater
Dealer Floater
Transportation floater
Installation Floater
Community Cleaners is a new dry cleaning and laundry service business. They have vehicles that pick up customers property to be processed and then delivered back to the customer. What type of policy would you recommend they purchase to cover the customer’s property?
A business owners policy
A commercial property policy
A Bailee policy
A trip transit policy
A Bailee policy
Global Electronics has a large piece of equipment that needs to be transported from their plant to their customers. They are using a rented U-Haul truck and one of their drivers is to make the delivery. What type of policy would be needed to cover this one trip exposure?
A trip transit
An annual trip policy
Motor truck cargo
Bailee policy
A trip transit policy
The equipment dealers form covers all of he following types of property, except:
A farm tractor
A snow removal truck
A customer’s bulldozer in the insureds repair shop
An inventory of hats and jackets
A snow removal truck
Which of the following statements regarding the equipment dealers form is incorrect?
Coverage is on an “Open Peril Basis”
Coverage applies on a world wide basis
Contractors equipment can be covered
Covers similar property owned by others and in the insureds premises
Coverage applies on a world wide basis
