Commercial Property Insurance Flashcards Preview

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Flashcards in Commercial Property Insurance Deck (14)
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1
Q

debris removal commercial policy

A

25%

2
Q

Special Causes of Loss Form

A

Coverage is provided for losses caused by Risks of Direct Physical Loss except as specifically limited or excluded

3
Q

common policy conditions

A

Cancellation, changes, and examinations of books and records are also common policy conditions.

4
Q

Outdoor signs

A

Not attached to building are excluded, except limited coverage under outdoor property which does not cover wind losses

5
Q

liberalization

A

is a condition of the property section

6
Q

at least what % square footage or vacant

A

31%

7
Q

Tenants improvements

A

are covered under business personal property not personal prperty of thers coverage

8
Q

interline

A

coordinate commerical property to aviod duplication

9
Q

hay and grain

A

is covered inside a building

10
Q

agreed value

A

does not automatically renew so they must select it each time

11
Q

damage by bacteria

A

12 months after covered peril 15K limit

12
Q

Legal Liability Coverage Form

A

covers loss or damage to real or personal property of others that is in the insured’s care. Not Bailee

13
Q

outdoor signs attached

A

$2500 covered up to

14
Q

period of restoration

A

72 hrs after time of loss EXTRA EXPENSE FORM