Bpp building coverage - Study guides, Class notes & Summaries

BPP building coverage CORRECT ANSWER insures the building at the described location, outdoor, fixtures, furnitures, items used to service the property, permanently installed machinery and equipment, and additions under construction, including the materials, supplies, and equipment. HO limits of property at other residences CORRECT ANSWER the larger of $1000 or 10% Coverage C. Limit does not apply if property is moved because the residence premise is being repaired or rebuilt. When property i...

CPCU Virtual Exam Questions & Answers 2024/2025 Which one of the following businesses would most likely be eligible for coverage under an ISO Businessowners Policy? - ANSWERS Johnson's Hardware purchased business income insurance. Johnson's has monthly revenues of $80,000 and monthly expenses of $60,000. Damage caused by a covered peril forced Johnson's to close part of its store for three months. During this time, Johnson's earned $200,000 in revenue and incurred $150,000 in expense...

Georgia Property and Casualty Insurance Exam Questions and Verified Solutions 2024 BPP building coverage - Answer -insures the building at the described location, outdoor, fixtures, furnitures, items used to service the property, permanently installed machinery and equipment, and additions under construction, including the materials, supplies, and equipment. HO limits of property at other residences - Answer -the larger of $1000 or 10% Coverage C. Limit does not apply if property is moved ...

The Causes of Loss—Special Form is a commercial property form that covers causes of loss that are not specifically excluded. One reason to purchase this form is It shifts the burden of proof to the insurer to prove a loss is excluded Which one of the following Additional Coverages is covered under the Causes of Loss—Special Form but not under the Causes of Loss—Broad Form? Property in Transit The Causes of Loss—Special Form provides coverage for which one of the following sce...

Property and Casualty Review 2024 Questions and Answers A unique exclusion that is found only in the Fine Art Floater is: - Correct Answer ️️ -Art on Exhibition (Due to most frequent thefts during gallery showings) Which section of a Special form policy determines whether a peril is covered? - Correct Answer ️️ -Exclusions New zoning laws prevent an Insured from replacing a destroyed property. If the Insured transfers ownership of the property to the Insurer, this is an example of...

Distinguish between Covered Property and Property Not Covered under the Businessowners Coverage Form. - Answer- Covered: Buildings: Includes PP of landlord (common areas, furnished) Covers Bridges, Retaining Walls, Wharves, Docks Replacement Cost BPP: Includes Property of Others (in CCC) Exterior Building Glass Replacement Cost Not Covered: Money/Securities Fences, radios, antennas, towers, signs (detached) plants Installed computers (in vehicles etc) Electronic Data...

AINS 23 Full Practice Exam Questions with Correct Answers (Already Graded A+) Which one of the following is a characteristic of a site-specific environmental impairment liability policy? - Answer It provides coverage on a claims-made basis. Exclusions are generally very common in all insurance policies. Which one of the following is a correct statement regarding the exclusions in Part One of the standard Workers Compensation and Employers Liability (WC&EL) Insurance Policy? - Answer Part...

Danforth Grocery Store specializes in fresh produce and is open 24 hours year-round. The store has contracts with suppliers to deliver produce and foods by 5am daily, so the parking area at the rear of the store is congested from 4:30am to 5:30am. Customer traffic is heaviest from 7am to 9am, and again from 3pm to 6pm. The store has had six slip and fall claims from customers in the past year. Danforth Grocery Store is most exposed to which one of the following types of liability loss? A. ...

BPP building coverage - ANSWER insures the building at the described location, outdoor, fixtures, furnitures, items used to service the property, permanently installed machinery and equipment, and additions under construction, including the materials, supplies, and equipment. HO limits of property at other residences - ANSWER the larger of $1000 or 10% Coverage C. Limit does not apply if property is moved because the residence premise is being repaired or rebuilt. When property is moved to n...

WA State Property & Casualty State exam questions and answers already passed Assignment The transfer of a policy to another party. Often done when commercial property is sold to a new owner. Building & Personal Property (BPP) The commercial property policy for larger businesses. Business Income Policy A commercial policy covering the indirect loss of income following a loss. Cancellation Termination of a policy during the policy period. Casualty Insurance A broad term which includes all of t...