Podcast
Questions and Answers
What does the Garagekeepers coverage include for a customer's vehicle?
What does the Garagekeepers coverage include for a customer's vehicle?
- Only physical damage
- Loss due to collision
- Theft and vandalism
- Comprehensive, specified causes of loss, and collision (correct)
What is excluded from coverage under Comprehensive Coverage for a customer's auto?
What is excluded from coverage under Comprehensive Coverage for a customer's auto?
- Fire
- Collision with another object (correct)
- Theft
- Damage due to vandalism
What does "Specified Causes of Loss Coverage" cover for a customer's auto?
What does "Specified Causes of Loss Coverage" cover for a customer's auto?
- All perils including collisions
- Theft, fire, and vandalism only
- Windstorm, hail, earthquake, and flood
- All of the above (correct)
Who is considered an "insured" under Garagekeepers coverage?
Who is considered an "insured" under Garagekeepers coverage?
What type of damage does Collision Coverage include?
What type of damage does Collision Coverage include?
How does the policy define "garage operations"?
How does the policy define "garage operations"?
What is excluded under "Care, Custody or Control" for Garagekeepers coverage?
What is excluded under "Care, Custody or Control" for Garagekeepers coverage?
What is the maximum deductible for loss caused by theft or mischief in a single event under Garagekeepers coverage?
What is the maximum deductible for loss caused by theft or mischief in a single event under Garagekeepers coverage?
What is the coverage limit for "loss" to a customer's auto for Garagekeepers coverage?
What is the coverage limit for "loss" to a customer's auto for Garagekeepers coverage?
What is the coverage for "loss" due to mischief or vandalism under Garagekeepers coverage?
What is the coverage for "loss" due to mischief or vandalism under Garagekeepers coverage?
Who is responsible for paying the premium for the Garagekeepers policy?
Who is responsible for paying the premium for the Garagekeepers policy?
What happens if an insured violates the U.S. economic and trade sanctions under the policy's Economic and Trade Sanctions Condition?
What happens if an insured violates the U.S. economic and trade sanctions under the policy's Economic and Trade Sanctions Condition?
Which of the following is a duty of the insurer in the event of a claim under the policy?
Which of the following is a duty of the insurer in the event of a claim under the policy?
What is the responsibility of the insured under the "Examination of Your Books and Records" clause?
What is the responsibility of the insured under the "Examination of Your Books and Records" clause?
What happens if the insurer cancels the policy for non-payment of premium?
What happens if the insurer cancels the policy for non-payment of premium?
What is the policy's coverage for "loss" caused by a covered auto collision with another object?
What is the policy's coverage for "loss" caused by a covered auto collision with another object?
How is the insurance coverage extended for out-of-state vehicles?
How is the insurance coverage extended for out-of-state vehicles?
What is the limit of insurance for "Garage Operations" other than covered autos?
What is the limit of insurance for "Garage Operations" other than covered autos?
What is the policy's coverage for "personal injury" liability under "Garage Operations"?
What is the policy's coverage for "personal injury" liability under "Garage Operations"?
What is the term used for vehicles owned by the insured in the policy?
What is the term used for vehicles owned by the insured in the policy?
What is the policy's stance on "loss of use" for property not physically damaged?
What is the policy's stance on "loss of use" for property not physically damaged?
What does the policy say about property owned by the insured and damaged?
What does the policy say about property owned by the insured and damaged?
Which of the following is excluded from coverage under "Products Recall"?
Which of the following is excluded from coverage under "Products Recall"?
Under the policy, what is the coverage for a "temporary substitute vehicle"?
Under the policy, what is the coverage for a "temporary substitute vehicle"?
What is excluded under the policy's "Pollution Exclusion"?
What is excluded under the policy's "Pollution Exclusion"?
What is the maximum deductible for property damage under the policy?
What is the maximum deductible for property damage under the policy?
What is covered under "Supplementary Payments"?
What is covered under "Supplementary Payments"?
What does the policy say about claims involving war or insurrection?
What does the policy say about claims involving war or insurrection?
What happens if the deductible is paid by the insurer in part?
What happens if the deductible is paid by the insurer in part?
What is the coverage for a customer's auto while left with the insured for service, repair, or safekeeping?
What is the coverage for a customer's auto while left with the insured for service, repair, or safekeeping?
What is the coverage limit for damages to a customer's vehicle?
What is the coverage limit for damages to a customer's vehicle?
Under what circumstance is the insurer obligated to defend the insured?
Under what circumstance is the insurer obligated to defend the insured?
What is the maximum coverage limit for "loss" to customer's auto in a single event?
What is the maximum coverage limit for "loss" to customer's auto in a single event?
What is the insurance coverage for “property damage” due to faulty work?
What is the insurance coverage for “property damage” due to faulty work?
What does the "Non-Renewal" provision state?
What does the "Non-Renewal" provision state?
What is the deductible for physical damage caused to a covered auto under the policy?
What is the deductible for physical damage caused to a covered auto under the policy?
What happens in the event of a claim for "loss" to the vehicle due to vandalism?
What happens in the event of a claim for "loss" to the vehicle due to vandalism?
What is covered under "Medical Payments" in the policy?
What is covered under "Medical Payments" in the policy?
What is the policy's stance on claims for "products recall"?
What is the policy's stance on claims for "products recall"?
Flashcards
Garagekeepers Coverage
Garagekeepers Coverage
Covers physical damage, specified causes of loss, and collision to a customer's vehicle while in the garagekeeper's care.
Comprehensive Coverage Exclusion
Comprehensive Coverage Exclusion
Excludes damage from collisions with another object.
Specified Causes of Loss Coverage
Specified Causes of Loss Coverage
Covers theft, fire, vandalism, windstorm, hail, earthquake, and flood.
"Insured" Definition (Garagekeepers)
"Insured" Definition (Garagekeepers)
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Collision Coverage
Collision Coverage
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"Garage Operations" Definition
"Garage Operations" Definition
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Care, Custody, or Control Exclusion
Care, Custody, or Control Exclusion
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Garagekeepers Theft/Mischief Deductible
Garagekeepers Theft/Mischief Deductible
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Garagekeepers Coverage Limit
Garagekeepers Coverage Limit
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Mischief/Vandalism Coverage
Mischief/Vandalism Coverage
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Premium Payment Responsibility
Premium Payment Responsibility
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Violation of U.S. Sanctions
Violation of U.S. Sanctions
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Theft/Mischief Deductible
Theft/Mischief Deductible
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Insurer's Duty in a Claim
Insurer's Duty in a Claim
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"Examination of Books" Clause
"Examination of Books" Clause
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Cancellation for Non-Payment Notice
Cancellation for Non-Payment Notice
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Coverage for Auto Collision
Coverage for Auto Collision
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Out-of-State Vehicle Coverage
Out-of-State Vehicle Coverage
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Garage Operations Limit (Other than Autos)
Garage Operations Limit (Other than Autos)
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Personal Injury Liability (Garage Operations)
Personal Injury Liability (Garage Operations)
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Vehicles Owned by the Insured
Vehicles Owned by the Insured
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"Loss of Use" Coverage
"Loss of Use" Coverage
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Insured's Damaged Property
Insured's Damaged Property
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"Products Recall" Exclusion
"Products Recall" Exclusion
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Coverage for Substitute Vehicle
Coverage for Substitute Vehicle
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"Pollution Exclusion"
"Pollution Exclusion"
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Maximum Property Damage Deductible
Maximum Property Damage Deductible
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"Supplementary Payments"
"Supplementary Payments"
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War or Insurrection Claims
War or Insurrection Claims
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When Insurer Pays Deductible
When Insurer Pays Deductible
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Study Notes
Garagekeepers Coverage
- Includes comprehensive coverage, specified causes of loss, and collision for a customer's vehicle
Comprehensive Coverage Exclusions
- Collision with another object is excluded from coverage for a customer's auto
Specified Causes of Loss Coverage
- Covers theft, fire, vandalism, windstorm, hail, earthquake, and flood for a customer's auto
Insured Parties Under Garagekeepers Coverage
- The named insured, their employees, and any authorized drivers
Collision Coverage
- Involves damage from a car hitting another object/overturning
Garage Operations Definition
- Operations involving the ownership, maintenance, or use of covered autos
Exclusions Under "Care, Custody or Control"
- Excludes customer's auto left for repair, property owned by the insured, and property used in the insured's business
Maximum Deductible for Theft/Mischief
- The maximum deductible for loss caused by theft or mischief in a single event is specified in the Declarations
Coverage Limit for "Loss" to Customer's Auto
- The coverage limit for "loss" to a customer's auto is as stated in the Declarations
Coverage for Mischief/Vandalism
- Coverage provides for damage caused by malicious actions
Premium Responsibility
- The first named insured is responsible for paying the premium for the Garagekeepers policy
Violation of U.S. Sanctions
- If an insured violates U.S. economic and trade sanctions, the policy will be void from inception
Maximum Deductible for Theft/Mischief Loss
- The maximum deductible for "loss" caused by theft or mischief for a single event is the specified amount in the Declarations
Insurer's Duty in a Claim Event
- Duty to investigate and settle claims
Insured's Responsibility: "Examination of Your Books and Records"
- The insurer may audit the insured's books and records up to three years after the policy period as per clause
Insurer Canceling Policy for Non-Payment
- A 10 days' notice is required
Coverage for Auto Collision "Loss"
- Coverage for "loss" caused by a covered auto collision with another object falls under Collision Coverage
Insurance Coverage Extension for Out-of-State Vehicles
- The insurer increases the liability limit to meet state requirements for out-of-state vehicles
Limit of Insurance for "Garage Operations"
- Limit of insurance is the aggregate limit shown in the Declarations
Coverage for "Personal Injury" Liability
- Personal injury liability coverage is provided if included by endorsement under "Garage Operations"
Vehicles Owned by Insured
- Referred to as Covered Autos
Policy Stance on "Loss of Use"
- Only loss of use caused by sudden and accidental damage is covered for property not physically damaged
Policy on Property Owned/Damaged
- Not covered under the Care, Custody or Control exclusion
Exclusions Under "Products Recall"
Loss of use due to a product defect is is excluded from coverage under "Products Recall"
Coverage for Temporary Substitute Vehicle
- Coverage is provided for all damages while the covered vehicle is out of service
Exclusions: Pollution Exclusion
- Bodily injury caused by pollutants
Maximum Property Deductible
- As specified in the Declarations
Coverage: Supplementary Payments
- Covers all expenses the insured incurs
War/Insurrection Claims
War-related claims are excluded from coverage.
Handling of Deductible Paid by Insurer
- The insured must reimburse the insurer for the deductible
Coverage: Customer Autos Left for Service
- Comprehensive, Specified Causes of Loss, and Collision Coverage is offered
Coverage Limit: Customer Vehicle Damages
- As specified in the Declarations
Insurer's Obligation to Defend Insured
- Arises for claims involving bodily injury and property damage under garage operations
Maximum Coverage Limit: "Loss" to Customer's Auto
- As specified in the Declarations
Insurance Coverage: "Property Damage"
- Excluded under the policy if caused by faulty work
Non-Renewal Provision
- The insurer must provide at least 30 days' notice before non-renewal
Deductible for Physical Damage
- As specified in the Declarations
Event of Vandalism Claim
Coverage is provided if the loss meets the terms outlined under Comprehensive Coverage
Coverage: "Medical Payments"
- Cover medical expenses for bodily injury resulting from auto accidents
Policy Stance: "Products Recall" Claims
- Loss due to product recall is excluded
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Description
Garagekeepers coverage includes comprehensive, specified causes of loss, and collision coverage for customer vehicles. It excludes collision with other objects under comprehensive coverage. The insured parties are the named insured, employees, and authorized drivers.
