Auto Coverage
Coverage that provides Liability coverage for a non-owned, unlisted vehicle that you have leased, hired, rented or borrowed.
What is Hired auto coverage?
Type of business, location, vehicles, drivers & coverage amount.
What are the factors for a commercial auto policy?
Coverage A: Bodily Injury And Property Damage Liability;
Coverage B: Personal And Advertising Injury Liability;
Coverage C: Medical Payments
What are the 3 core coverages of Commercial General Liability?
Structures, Completed additions, Fixtures (including outdoor fixtures), Permanently installed machinery and equipment.
What does Building Coverage cover?
Exterior walls of masonry material (adobe, brick, concrete, gypsum block, hollow concrete block, stone, tile, or similar materials), with combustible floor and roof.
What is ISO Construction Code 2-Joisted Masonry?
Also called the market value, is essentially the price someone would pay to purchase that exact vehicle today. It's determined by evaluating several factors, including the vehicle's age and condition, as well as any prior damage, improvements, or special equipment.
What is Actual cash value (ACV)?
These are based on the type of vehicle and a vehicle's gross vehicle weight rating (GVWR), which is the maximum operating weight of the vehicle, measured in pounds.
What are vehicle classes?
Numbers that represent small businesses that do similar work and share common hazards.
What are General Liability Class Codes?
Coverage for the property of others in the insureds care, custody, and control.
What is Personal Property of Others coverage?
Exterior walls of wood, brick veneer, stone veneer, wood ironclad, or stucco on wood.
What is ISO Construction Code 1-Frame?
Coverage was designed for towing businesses. It protects a customers' vehicles in case of fire, explosion, theft, vandalism or collision when the vehicle is at your garage or covered location for servicing, parking or storing.
What is Garagekeepers legal liability insurance?
Coverage for vehicles used to transport goods or equipment, drive clients or employees, perform a service that you’re paid for, charge passengers a fee to ride in your vehicle, charge people a fee to transport goods in your vehicle, haul heavy, work?related loads, tow a trailer used for business.
What is Commercial Auto Insurance?
They provide an objective and accurate method for insurers to set their premiums. This lets them match the common hazards class members share with an appropriate price for insurance.
Why are General liability class codes important?
This coverage pays for the insured's net income, employee payroll, and normal operating expenses while the business is non-operational (or losing income) due to a covered claim.
What is Business Income & Extra Expense?
Exterior walls of masonry material (adobe, brick, concrete, gypsum block, hollow concrete block, stone, tile, or similar materials) with floors and roof of metal or other noncombustible materials.
What is ISO Construction Code 4-Masonry Noncombustible ?
The basic coverage implemented in no-fault automobile insurance states. A coverage in which the auto insurance company pays, within the specified limits, the medical, hospital and funeral expenses of the insured person, people in the insured vehicle and pedestrians struck by the insured vehicle.
What is Personal injury protection (PIP) Coverage?
A motorized automobile, equipped with a fifth wheel, constructed for use as a pull vehicle.
What is a truck tractor?
This limits the insurance company’s liability for activities that fall outside of the insured’s classification.
What are exclusions?
This identifies what events are covered, and which are not.
What is the Cause of Loss form?
Exterior walls, floor, and supports made of metal, asbestos, gypsum, or other noncombustible materials.
What is ISO Construction Code 3- Noncombustible ?
If a driver or owner of a vehicle is legally liable for an accident but does not have enough insurance, the insured can use this coverage for injuries, including death, that the insured, insureds resident relatives and occupants of the insured vehicle sustain, up to the limits you select.
What is Underinsured motorist coverage (UIM)?
A vehicle with an axle or axles at both front and rear, constructed so that all it's own weight rests on it's own wheels and can be connected by a draw bar and hitch to another trailer or semitrailer.
What is a full trailer?
This generally contains the insuring agreement, coverage conditions, exclusions, and policy definitions.
What is a Coverage Form?
Falling objects, Weight of snow, ice, or sleet, Water damage (in the form of leakage from appliances), Collapse from specified causes.
What is covered under the Broad Cause of Loss form?
Exterior walls, floors, and roof of masonry or fire-resistive materials with a fire resistance rating of at least 2 hours.
What is ISO Construction Code 6-Fire Resistive?