What is the purpose of the Garage Coverage Form?
The garage coverage form is designed to cover the risks associated liability, commercial general liability, and physical damage coverages in one policy. Garage operations are defined as the ownership, maintenance, or use of locations for garage business and that portion of the roads that adjoin these locations.
What is a specified cause of loss under which section of the Garage Coverage Form?
Flood is a specified cause of loss under which section of the Garage Coverage Form? he Section IV specified perils are the same as those found in the BAP, which includes damage for flood, the Section III specified perils are more restrictive, including only fire, lightning, explosion, theft, mischief, and vandalism.
What does symbol 31 in the garage insurance policy mean?
31 – Autos On Consignment and Dealer Autos. Provides physical damage coverages for autos consigned to the dealer or held for sale in possession of a non-dealer. 32 – Company Use. This is a company specific code. Use to provide coverage when no other symbol applies.
Which of the following autos is covered under symbol Nine of the business auto coverage form?
Symbol 9 is used to cover non-owned autos for liability. Non-owned autos are vehicles you use in your business but do not own, hire, rent, lease, or borrow. Examples are vehicles that are owned by your employees or partners and used in your business.
Which of the following autos is covered under symbol Nine of the business auto coverage form?
Symbol 9 is used to cover non-owned autos for liability. Non-owned autos are vehicles you use in your business but do not own, hire, rent, lease, or borrow. Examples are vehicles that are owned by your employees or partners and used in your business.
What is covered by the specified causes of loss coverage of the business auto coverage form?
Specified Causes of Loss coverage is available for commercial autos (trucks and trailers) only, not private passenger type autos. It covers loss due to fire, lightning, explosion, flood, theft, and a few other named perils. It is a cheaper alternative to Comprehensive Coverage.
Which business auto symbol provides the broadest coverage?
Symbol 1 is going to provide you the broadest coverage for your commercial vehicles because symbol 1 is designated “any auto”; any auto you own, rent, hire, lease, and any non-owned autos. This coverage even includes your employees' vehicles if they drive for business purposes.
What is a specified cause of loss under which section of the Garage Coverage Form?
Flood is a specified cause of loss under which section of the Garage Coverage Form? he Section IV specified perils are the same as those found in the BAP, which includes damage for flood, the Section III specified perils are more restrictive, including only fire, lightning, explosion, theft, mischief, and vandalism.