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Flashcards in TB - Commercial Inland Marine Deck (12)
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Common carriers are responsible for damage to customer goods they transport except for damage resulting from:


Acts of God

Traffic Accidents

Load shifting

Poor vehicle maintenance

Acts of God

1

Which of the following commercial I land marine coverage forms covers sum due the insured from customers which are u collectable due to loss or damage of records?


Equipment dealers

Electronic data processing

Valuable papers and records

Accounts receivable

Accounts receivables

2

The commercial Inland Marine coverage from "jeweler a block" excludes loss resulting from:


Earthquake

Shortage found upon taking inventory

Unexplained disappearance

All of the above

All of the above

3

The Commercial Inland Marine coverage form "valuable papers and records" includes coverage for:


I. Money and securities

II. Deeds, drawings, and maps

III. Books, files, and Mortgages


I and II

I and III

II and III

II only

II and III

4

The _______ Isabel ideal form of protection for the frequent shipper of goods.


Trip transit policy

Annual transit policy

Monthly transit policy

Common carrier motor truck cargo policy

Annual transit policy

5

Mr. Jones owns a jewelry store. His wife takes a very valuable necklace and wears it to a party. It is stolen. How will the jeweler's block policy respond to cover the loss?


The policy will cover the loss

The loss will be denied

The policy will pay the loss on an actual cash value basis

The policy will pay replacement cost less depreciation

The loss will be denied

6

XYZ Road construction company has a fleet of equipment that consists of bulldozers, backhoes, and road scrapers. The owner desires physical damage coverage to cover the equipment. Which of the following types of insurance contracts would be appropriate to provide the proper coverage?


Commercial property coverage

General liability coverage

Auto physical damage coverage

Contractors equipment floater

Contractors equipment floater

7

Savage Construction company has delivered and installed a large boiler in a commercial building. The owner has not yet accepted not paid for work. What type of policy should Savage Construction purchase to cover the work until accepted?


Builders risk

Installation Floater

Dealer Floater

Transportation floater

Installation Floater

8

Community Cleaners is a new dry cleaning and laundry service business. They have vehicles that pick up customers property to be processed and then delivered back to the customer. What type of policy would you recommend they purchase to cover the customer's property?


A business owners policy

A commercial property policy

A Bailee policy

A trip transit policy

A Bailee policy

9

Global Electronics has a large piece of equipment that needs to be transported from their plant to their customers. They are using a rented U-Haul truck and one of their drivers is to make the delivery. What type of policy would be needed to cover this one trip exposure?


A trip transit

An annual trip policy

Motor truck cargo

Bailee policy

A trip transit policy

10

The equipment dealers form covers all of he following types of property, except:


A farm tractor

A snow removal truck

A customer's bulldozer in the insureds repair shop

An inventory of hats and jackets

A snow removal truck

11

Which of the following statements regarding the equipment dealers form is incorrect?


Coverage is on an "Open Peril Basis"

Coverage applies on a world wide basis

Contractors equipment can be covered

Covers similar property owned by others and in the insureds premises

Coverage applies on a world wide basis