TB - Personal Watercraft Coverage Flashcards
Medical payments coverage on watercraft Policy covers all necessary medical expenses incurred by a covered person up to ______ following a covered accident.
I year
6 months
5 years
3 years
3 years
The insured owns a 20 foot fishing boat with a 50 horsepower motor. Which of the following polices would be best suited to cover a theft or a loss on a lake?
Homeowners Policy
Personal Article Floater
Watercraft Policy
Yacht Policy
Watercraft Policy
Coverage C of the Homeowners Policy covers ________ on watercraft, including their trailers, furnishings, equipment and lout oars motors.
$1500
$500
$5000
$250
$1500
Mr. Cato carried a Watercraft Policy covering his 25 foot pontoon boat. the boat is powered by a 150 hp motor. He transports it to the Florida Keys and operates the craft 20 miles out to see. The boat capsizes and is destroyed. What coverage would apply to the boat?
The ACV value of boat
The motor and accessories only
Damage to the hull only
No coverage would apply
No coverage would apply!!!
The insured is covered under a Watercraft Policy and asks the agent about a “lay-up” period credit to get a reduction in the premium. The dates of the lay-up period are specified in the policy. There is an emergency and the insured must use his boat in a life savings event. The boat is damaged and sinks. Under what circumstances would coverage apply?
The loss would not be covered because the insured operated the boat during the “lay - up” period
Only if the insured company is notified with I 10 days of the emergency use
Only the salvage of the boat is covered when required under Maritime Law
When additional premium is received by the insurer when the limitation is removed
Only if the insured company is notified with I 10 days of the emergency use
Under the Yacht Policy, what coverage must be added to cover bodily injuries to the captain and crew?
Medical payment coverage
Uninsured/underinsured boater insurance
Bodily injury liability coverage
Jones Act coverage for the members of the crew
Jones Act coverage for the members of the crew
The insured is transporting his yacht on its trailer and pulling it with its truck. The trailer separates from the truck hitch and the boat strikes another vehicle. There is property damage and bodily injury to a third party. The yacht and trailer are total loss. What coverage would apply under the Yacht Policy?
All the damage would be covered
Only the third party damages would be covered
Only the damage to the yacht and trailer
None of the damages are covered
Only the damage to the yacht and trailer!!!
How are losses evaluated for payment under the Watercraft and Yacht policies?
Agreed amount value
Functional replacement cost
Actual cash value at the time of the loss
Replacement cost value at the time of the loss
Actual cash value at the time of the loss
The insured carries a Yacht Policy and is pulling a water skier. The skier is a family member and is injured. What coverage might apply to this accident?
No coverage would apply
Liability coverage and defense coverage would apply
Medical payments coverage
Only the injured party’s health insurance would cover the claim
Only the injured party’s health insurance would cover the claim
Medical payments coverage
If a named insured acquires additional property after the policy period begins, that property is covered for a maximum of _____ days after the date it came into insured’s possession.
4
10
14
18
14
