Which situation would not be covered by the basic causes of loss?
Asked by: Brice Haag DDS | Last update: September 5, 2022Score: 4.7/5 (4 votes)
The Basic Cause of Loss Form does not cover collapse. The Broad and Special Forms for all property policies covers collapse as an additional coverage.
Which situation would not be covered by the basic causes of loss form under a commercial property policy quizlet?
Which situation would NOT be covered by the Basic Causes of Loss Form under a Commercial Property Policy? Coverage that will permit the insured to continue in business without interruption following a property damage loss.
Which of the following is covered on a basic cause of loss form?
The basic causes of loss form (CP 10 10) provides coverage for the following named perils: fire, lightning, explosion, smoke, windstorm, hail, riot, civil commotion, aircraft, vehicles, vandalism, sprinkler leakage, sinkhole collapse, and volcanic action.
Which of the following is not covered if the insured has basic peril coverage?
The Basic Form covers the perils of fire, lightning and internal explosion - The Basic Form is written on a named perils basis and does not cover theft, or loss to trees, shrubs, and plants.
Which of the following is covered on a basic cause of loss form quizlet?
The Basic Form provides coverage for the following causes of loss (perils): fire, lightning, windstorm or hail, smoke, aircraft or vehicles, riot or civil commotion, vandalism, sprinkler leakage, sinkhole collapse, and volcanic action.
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Which of the following property may not be covered under a building and personal property coverage form?
Building and personal property coverage form excludes claims for loss or damage to land, water, bridges, roadways, and underground pipes or drains. The policy also excludes any loss to plants, crops, trees and shrubs.
Which of the following would not be covered under a Builders Risk coverage form?
A builders risk coverage form provides protection against losses on the building, equipment, and supplies, but not to accidents on the job, the land, scaffolding, and theft. The policy does not cover war, nuclear hazards, extreme weather, or government seizure.
What does basic form cover?
Basic Form – covers your property against fire, lightning, explosion, smoke, windstorm, hail, riot, civil commotion, aircraft, vehicles, vandalism, sprinkler leakage, sinkhole collapse, volcanic action.
Which of the following losses would not be covered by the dwelling policy if the dwelling is vacant for over 60 days?
Which of the following losses would not be covered by the dwelling policy if the dwelling is vacant for over 60 days? Covered perils are Fire lightning and internal explosion.
Which of the following is not considered an insurable peril?
which of the following is not considered an insurable peril? a loss resulting from gambling. gambling is a speculative risk and is not insurable.
Is wind a covered cause of loss?
Homeowners insurance typically covers most types of wind damage, but there are exclusions. Wind damage causes a staggering amount of home insurance claims every year. Thankfully, damage caused by a wind-driven storm is usually covered by homeowners insurance.
What are the causes of losses?
Causes of Loss — the perils that can bring about or trigger loss or damage. Can be direct (the action immediately precedes the loss) or indirect (part of an uninterrupted chain of events leading to the loss).
Which of the following perils is not insured against by the Special Causes of Loss form under the farm property policy?
Which of the following perils is not insured against by the Special Causes of Loss form under the Farm Property policy? A-The Special Form is an Open Perils form, which covers all causes of loss not excluded. Criminal acts of the insured are always excluded.
Which situation would not be covered by the basic causes of loss form under a building and personal property policy?
The Basic Cause of Loss Form does not cover collapse. The Broad and Special Forms for all property policies covers collapse as an additional coverage.
Which of the following is not covered under the accounts receivable coverage form?
Which of the following is NOT covered under accounts receivable coverage form? Loan principal amounts are not covered under the form. However, other expenses, such as interest on necessary loans, are covered.
Which of the following would not be covered under liability section of a personal auto policy?
Under the liability portion of your policy, coverage is generally excluded in the following situations: Damage or injury is intentional. There is duplicate coverage (e.g., claims covered by workers' compensation)
What is not covered under a dwelling policy?
What is not covered by dwelling insurance? A standard homeowners insurance policy typically does not cover floods, earthquakes, sewer backups or damage that occurs from a lack of maintenance. You may be able to buy additional coverage or a separate insurance policy to help cover some of these additional perils.
Which of the following risks would not be eligible for coverage under a homeowners policy?
Termites and insect damage, bird or rodent damage, rust, rot, mold, and general wear and tear are not covered. Damage caused by smog or smoke from industrial or agricultural operations is also not covered. If something is poorly made or has a hidden defect, this is generally excluded and won't be covered.
Which of the following losses would be covered under all dwelling forms?
Fire damage to building materials and supplies that are located on the insured premises Loss caused by fire is covered under all forms. Damage caused by sewer or drain backup, collapse due to settling, and subsidence of land are exclusions.
Does basic cause of loss include theft?
Basic form covers these 11 “perils” or causes of loss: Fire or Lightning, Smoke, Windstorm or Hail, Explosion, Riot or Civil Commotion, Aircraft (striking the property), Vehicles (striking the property), Glass Breakage, Vandalism & Malicious Mischief, Theft, and Volcanic Eruption.
Which of the following losses is covered in the covered perils broad form?
The broad causes of loss form (CP 10 20) provides named perils coverage for the perils insured against in the basic causes of loss form (fire, lightning, explosion, smoke, windstorm, hail, riot, civil commotion, aircraft, vehicles, vandalism, sprinkler leakage, sinkhole collapse, volcanic action), plus the following ...
Which of the following claims may be covered under an equipment breakdown protection coverage form?
The Equipment Breakdown Protection coverage form provides many additional coverages including Business Income, Spoilage Damage, Utility Interruption, etc. provided either a specified limit or the word INCLUDED is shown for that coverage in the policy's declarations page.
Which of the following is not covered under Coverage C personal property?
Coverage C protects all the insured's personal property, except for the following: Motor vehicles and their equipment. Cars have their own insurance policies, so home insurance excludes them. Coverage C usually does, however, insure ordinary home maintenance vehicles like lawnmowers or snowblowers.
Which is not insured by property insurance?
Property insurance policies normally exclude damage that results from a variety of events, including tsunamis, floods, drain and sewer backups, seeping groundwater, standing water, and a number of other sources of water. Mold is usually not covered, nor is the damage from an earthquake.
Under which of the following circumstances would Coverage under the builders risk form END?
Coverage under the builders risk form ends if it is abandoned without any plans to complete it or if the insured's interest in the property ceases, or 60 days after the building is occupied, or 90 days after construction is completed.