TB - Commercial Property Insurance Flashcards
The special Cause of Loss form excludes all of the following, except:
Loss of market
Loss due to artificially generated electric current
Agricultural Smudging
None of these are exclusions
None of these are exclusions
Extra Expense insurance covers the cost of:
Relocation
Temporary location
Research costs to replace lost information
All of the above
All of the above
Earth movement is covered under which of the following Cause of Loss forms?
None
Basic
Broad only
Basic and Broad
None!!!
Volcanic action is covered under which of the following Cause of Loss forms?
None
Basic
Broad only
Both Basic and Broad
Both Basic and Broad
Sprinkler leakage is covered under which of the following Cause of Loss forms?
Basic
Broad
Special
All of the Above
All of the Above!!!
All of the following provide an additional amount of insurance under the commercial Building and Personal Property form, except:
Lottery Tickets
Newly acquired property
Property off-premisses
Outdoor Property
Lottery Tickets!
LOL!!!
Which of the following forms covers a flood and earthquake damage?
Building and personal property form
Special form
Broad form
None of the above
None of the above
The Earthquake and Volcanic Eruption endorsement provides coverage:
Against earthquake from volcanic eruption
For commercial buildings and other covered property when used in conjunction with another Cause of Loss forms
For damage caused by shocks that occur within 168 - hours after policy expiration of the shocks began during the policy period
All of the above
All of the above
The commercial Building and Personal Property Coverage form excludes all of the following types of property, except:
Securities
Property and others in the insured care custody and control
Land
Patios or other paced surfaces
Property and others in the insured care custody and control
Under the Commercial Building and Personal Property form, coverage for the “building” includes:
Additions and extensions to the building
Property used to service the building
A Heating System
All of the above
All of the above
Under the Commercial Building and Personal Property form, coverage for “business personal property” includes:
Furniture
Machinery
Stock
All of the above
All of the above
Sinkhole collapse is covered under which of the following cause of loss forms?
Basic
Broad
Special
All of the above
All of the above
A building valued at $100,000 was insured for $80,000 with a policy containing 80% Coinsurance clause. Disregarding any deductibles, what would the company pay on a $20,000 loss?
$75,000
$5,000
$15,000
$20,000
$20,000
The insured has complied with the 80% Coinsurance clause. Therefore the partial loss of $20,000 will be paid in full
All of the following are excluded under the commercial building and personal property form, except:
Furniture and Fixtures
Petty Cash and IOU’s
A Watch dog
The insured’s panel truck
Furniture and Fixtures
Which of the following is not covered property under a Commercial Property form?
Accounts, bills, and currency
Animals not held for sale
Cost of foundations
All of the above
All of the above