COMMERCIAL CASUALTY II QUESTIONS AND VERIFIED
ANSWERS, 100% GUARANTEE
accident - An event or continuous or repeated exposure to the same conditions resulting in
bodily injury or property damage
auto - A land motor vehicle; "trailer" or semitrailer designed for travel on public roads; or
any other land vehicle that is subject to a compulsory or financial responsibility law or other
motor vehicle insurance law where it is licensed or principally garaged. An auto does not include
"mobile equipment."
bodily injury - Injury, sickness, or death sustained by a person
concurrency - When the dates of an Excess/Umbrella policy and an underlying policy or
policies are the same
conditions - The rules of a contract for an insured and insurance company
coverage territory - The geographic area where insurance applies
Declarations - The part of a policy that shows the who, what, when, and where
deductible - The amount the insurance company reduces its payment for a loss; it is shown
in the Declarations for each coverage
depreciation - The amount of value an auto has lost due to its age, mileage, or wear and
tear
diminution - The perceived loss in market or resale value resulting from a direct and
accidental "loss"
ANSWERS, 100% GUARANTEE
accident - An event or continuous or repeated exposure to the same conditions resulting in
bodily injury or property damage
auto - A land motor vehicle; "trailer" or semitrailer designed for travel on public roads; or
any other land vehicle that is subject to a compulsory or financial responsibility law or other
motor vehicle insurance law where it is licensed or principally garaged. An auto does not include
"mobile equipment."
bodily injury - Injury, sickness, or death sustained by a person
concurrency - When the dates of an Excess/Umbrella policy and an underlying policy or
policies are the same
conditions - The rules of a contract for an insured and insurance company
coverage territory - The geographic area where insurance applies
Declarations - The part of a policy that shows the who, what, when, and where
deductible - The amount the insurance company reduces its payment for a loss; it is shown
in the Declarations for each coverage
depreciation - The amount of value an auto has lost due to its age, mileage, or wear and
tear
diminution - The perceived loss in market or resale value resulting from a direct and
accidental "loss"
