Texas Property and Casualty Insurance Policies. (State Test) 2024

The businessowners policy liability coverage will pay for necessary medical expenses of others within what maximum time period? - Correct Answer 1 Year Which of the following covers a carrier for liability for loss to cargo while it is being transported in a truck? - Correct Answer Moto truck cargo policy- truckers form In which of the following types of property valuation will the policy pay the full value specified on the policy schedule, regardless of the insured property's appreciation or depreciation? - Correct Answer Agreed Value If the actual values exceed the limit of insurance, the buisnessowners policy (BOP) contains a seasonal increase provision that automatically increases the limit of insurance for business personal property by - Correct Answer 25% In which type of commercial crime policy coverage is triggered by a loss that happens during the policy period but is not necessarily discovered during the policy period? - Correct Answer Loss sustained form Under the dwelling policy, if an insurer chooses to repair or replace damaged or lost property, it must inform the insured within how many days of receiving proof of loss? - Correct Answer 30 Days Under a dwelling policy, which of the following is NOT a factor in determining a loss? - Correct Answer The amount negotiated by the insured Which professional liability form provides form coverage for liability arising out of malpractice, error, or mistakes made in rendering professional services? - Correct Answer Physicians, surgeons and dentists malpractice Which of the following would be covered under the crime coverage inside the premises - theft of money and securities? - Correct Answer loss or damage to a locked safe, vault, or cash register What is the purpose of the coinsurance clause found in the property insurance policies? - Correct Answer Encourage the insured to insure the property to its closest value A property insurance policy that is not subject to any coinsurance requirements but has a set amount of insurance scheduled for the property would use what valuation method? - Correct Answer Stated amount All the following are major coverages included in the homeowners policy EXCEPT - Correct Answer Loss of income