types of property insurance policies pt 2

all of the following losses are excluded under a building and business personal property coverage from except

inventory

all of the following perils are covered by the basic cause of loss form of a building and business personal property coverage form except

falling objects

all of the following property is excluded from a builders risk policy except

the neon sign newly attached to the building

All of the following statements about Extra Expense coverage are true, EXCEPT:

this form covers lost income

The Nationwide definition of property eligible for coverage under Inland Marine coverage forms includes all of the following, EXCEPT:

buildings

After flashing a maintenance warning for 10 days, the company's commercial boiler exploded and started a fire which caused extensive damage. What did the company's Equipment Breakdown policy cover after it investigated the claim?

it declines to cover any of the damage

E's refrigeration system failed when the utility's power plant was knocked offline by a fire. Her catering company lost several thousand dollars worth of prepared dishes which were ruined by the loss of refrigeration. Luckily, her Equipment Breakdown policy:

covered the loss under the utility interruption coverage

All of the following are subject to special sublimits under a Businessowners policy (BOP), EXCEPT:

building coverage

All of the following are true regarding a Businessowners Policy (BOP), EXCEPT:

depreciation is considered for damaged property

All of the following are true regarding a Businessowners Policy (BOP), EXCEPT:

60 days

Which additional coverage under a Businessowners Policy (BOP) would be beneficial to D if she wants to be covered for any additional rebuilding costs she may have to incur to comply with city ordinances or laws?

increased cost of construction

The structure of a Businessowners Policy (BOP) covers all of the following, EXCEPT:

business autos

Which of the following statements regarding the businessowners policy (BOP) is correct?

businessowner policies are written on an open-peril basis

According to the Common Conditions of the Businessowners policy (BOP), the insurer can make warranted changes to premium (subject to an audit):

after the close of the coverage period

An uncontrolled inland marine coverage form is:

not standardized by a rating bureau

Which of the following is correct regarding stopping and ceasing flood insurance coverage?

there is a 30 day waiting period once an application is completed and premium is paid before flood insurance becomes effective

Which of the following statements is TRUE regarding the Personal Article Floater?

there is no deductible

Which of the following statements about NFIP deductibles is TRUE?

There is a deductible applied to the building and another to the contents under both the emergency and the regular programs