Covers direct damage caused by the bursting of boilers, breaking of propeller shafts, or
loss due to faults or errors in navigation by the crew.
world-wide open peril coverage of personal property for people who are traveling -
luggage, sports equipment, clothes, and camera. NO DEDUCTIBLE.
,Term 7 of 129
Boat, Yacht, Aviation, and Ocean Marine policies carry coverage for physical damage that is
called ___________________. What is their liability coverage called?
Property Insurance; Liability Coverage
Personal Property Insurance; Medical Payments Coverage
Comprehensive Coverage; Collision Coverage
Hull Insurance; Protection and Indemnity
Term 8 of 129
An insured's right of recovery against a negligent third party may be transferred to the insurer
under the:
A - consideration clause
B - indemnity clause
C - subrogation clause
D - assignment clause
C - subrogation clause
66.67% or $550 per week
Particular Average
contracts of adhesion
Term 9 of 129
Difference in Conditions (DIC) Insurance
Basements and underground structure (ex. septic tanks), animals, money/accounts/bills,
land, anything else covered by other policies (motor vehicles, aircraft, watercraft)
None! It has its own policy through the Federal Government.
A separate insurance policy that provides open-perils coverage to fill in the gaps left by
flood coverage if a home is worth over $250K. Coverage is produced through
Excess/Surplus Lines.
d. Difference in Conditions Policy
, Term 10 of 129
What are the floaters available on Personal Inland Marine Insurance?
Personal Articles Floaters, Personal Property Floaters, and Personal Effects Floaters
Homeowners Floaters, Business Floaters, and Auto Floaters
Liability Floaters, Renters Floaters, and Health Floaters
Travel Floaters, Equipment Floaters, and Vehicle Floaters
Term 11 of 129
The maximum number of days that a Standard Flood Insurance Policy will cover property
removed is:
a. 15 days
b. 20 days
c. 30 days
d. 45 days
Animals
d. 45 days
Hull Insurance; Protection and Indemnity
Part One - Workers Compensation
Part Two - Employers Liability Insurance (std lim $100K)
Part Three - Other States Insurance
Part Four - Your Duties if Injury Occurs
Part Five - Premium
Part Six - Conditions
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