Contractors
What is the limit of value per item for the Contractor’s Tool and Equipment (Blanket Limit ) Coverage?
$2,000
Local grocery store fails to clean up spilled milk in aisle 3. A customer slips and breaks their elbow. The insured has to pay for the customer’s medical bills. What coverage would help with this expense?
Medical Expenses
Underwritten by Hartford Steam Boiler, what comprehensive endorsement is designed to help businesses respond to a full range of cyber exposures?
Cyber Suite
What coverage would protect the insured after accepting fake money?
Money Orders and Counterfeit Money
What 2 coverages for Restaurants, Services, Retail, Offices, and Wholesale are ONLY available with the Business Select Endorsement?
Money and Securities, Sales Representative Samples
What coverage would a contractor need to cover his $3,000 table saw?
Contractor’s Tools and Equipment (Scheduled Limit)
A leaky shampoo bowl at a salon causes damage to the floor and wall behind it. What coverage would the salon need to pay for the tear out and replacement of the wall and floor?
Water Damage – Other Liquids, Powder, or Molten Material
An employee of a vendor fraudulently gained access to the insured's computer system and changed the bank routing number from the vendor to the employee's bank routing number, causing a large sum of money to be transferred directly to the employee instead of the vendor. What coverage applies?
Computer Fraud and Funds Transfer Fraud
What coverage applies for unattached signs, fences, and plants?
Outdoor Property/Any one Tree, Shrub, or Plant
How many days does the Business Select Endorsement cover for Preservation of Property?
60 days
***Bonus - What does the BASE cover?
Contractor gets tools stolen at a secure job site, and they need to rent tools to finish a job on time.
Rental Reimbursement
An insured, who rents a location in a strip plaza, suffers water damage at their location which damages their personal property, in addition to the section of the building they rent. What coverage do they need to cover the damage to the building?
Broadened Fire Legal Liability
On a snowy Christmas Eve, Santa lands on the insured’s roof. Santa does not have to use the chimney since his weight created a new opening on the roof. What coverage would the insured need to repair this hole in the roof?
Collapse
What provides coverage for the owner of a commercial townhouse?
Condominium Commercial Unit-Owners
What amount does the Business Select Endorsement cover for Appurtenant Structures?
10% of building coverage limit, up to $50,000
A contractor rents a storage unit for additional materials needed for a job. What coverage would protect those additional materials
Property at a Temporary Storage Location
The insured’s building is damaged in a fire. The local authorities determine that it was arson. A witness gives information to the police that leads to the conviction of the suspects involved. What coverage would compensate the witness for their good deed in coming forward?
Rewards – Arson, Theft and Vandalism
“It must produce property and casualty insurance losses in excess of $5 million” is a requirement for what coverage to apply?
Cap on Losses from Certified Acts of Terrorism
What coverage is considered to be an Equipment Breakdown crossover?
Spoilage
Name 2 coverages for contractor’s that are ONLY available with the Business Select Endorsement.
Any 2 of the following: Appurtenant Structures, Employees’ Tools Coverage, Non-owned Tools and Equipment, Rental Reimbursement for Contractor’s Tools and Equipment
Uninstalled marble tile is stolen from a contractor’s covered job site. What coverage applies?
Property at Each Covered Job Site and Property at all Covered Job Sites Combined.
A severe storm damages a transformer that supplies power to a local restaurant. The power is out for several days. The insured could not operate the business during this time and all of the food that was stored in refrigerators and freezers had to be disposed of. What coverages could the insured have purchased to protect their income and property?
Utility Services Business Income and Utility Services Direct Damage
If an insured purchases the Business Select Package, what is the time deductible for Civil Authority (Business Income) coverage?
24 hours
If a customer needs more than the base policy's $10,000 for increased cost of construction due to new building regulations, what coverage would they need?
Ordinance or Law
What is the increased limit for Fire Extinguisher Recharge for Restaurants with the Business Select Endorsement?
$25,000
***Bonus: What are the limits for Retail, Services, Offices & wholesale for the Fire Extinguisher Recharge?