Miscellaneous Personal Lines Coverage Flashcards Preview

Cram > Miscellaneous Personal Lines Coverage > Flashcards

Flashcards in Miscellaneous Personal Lines Coverage Deck (11):
1

Fine Arts Floater

90 DAYS covering paintings, statuary, carvings, other works of art, rare manuscripts, and antiques,

2

Personal Jewelry Floater

- can be written on valued basis
- has pair and sets clause
-Appraisal is usaully mandatory
-30 days AUTO!

3

EQ single occurrence

72

4

Umbrella Liability

exclude CCC

-specific minimum limits for underlying required
-certain losses excluded by the primary are covered

5

Retention

like a deductible but term in umbrella

6

Musical Instrument Floater

Playing for pay requires an endorsement and additional premium.

7

The Personal Effects floater

provides worldwide open peril coverage for items worn or carried by tourists.

8

Personal Articles Floater

Cameras are insured on an Actual Cash Value basis.
-have the pair and sets clause
-must report new objects 90 days

9

The intent of Personal Articles floater policy is

coverage is worldwide since it is written on the moveable type of property insureds carry with them when traveling, both domestically and overseas.

10

Lay UP

in storage
if insured lives on the yacht or operates it, no coverage is provided

11

Jewlry Floater auto coverage

60