Garage Policy Quiz - Hard

Refund Calculation (Insurer Cancellation)

• A pro rata refund is provided, based on the unused portion of the premium.

Insured's Action for Potential Claims

• Immediate notification to the insurer is required in the event of potential claims due to loss or damage.

Policy Changes Authorization

• The first named insured shown in the Declarations is authorized to make changes with the insurer’s consent.

Insurer's Obligation Regarding Inspections and Surveys

• The insurer makes recommendations, but does not ensure safety.

Economic and Trade Sanctions Condition

• The Economic and Trade Sanctions condition voids the policy if the policy violates U.S. economic or trade sanctions.

Expediting Claim Handling

• Detailed loss information and the policy number are required to expedite the handling of a claim.

Minimum Notice Period for Cancellation (Nonpayment)

• The minimum notice period for cancellation due to nonpayment is 10 days.

Protocol for Amending Policy Terms

• Amending the terms of the policy requires a written endorsement by the insurer.

Inspection Timing

• Inspections can be conducted anytime during the policy period.

Premium Refunds (Insured Cancellation)

• Premium refunds are handled as less than pro rata if the first named insured cancels the policy.

Applicable Document Form Number

• IL 00 17 11 98 is applicable to all coverage parts.

Agent of Record

• Amynta Dealer Solutions is the agent of record for the policy.

Information for Expediting Claims

• Policy number and details of the loss must be available to expedite the handling of claims.

Insurer's Role in Inspections

• The insurer does not ensure compliance with health or safety laws during inspections and surveys.

Premium Recalculation at Renewal

• Premiums are recalculated at each policy renewal in accordance with the insurer’s then-current rates and rules.

Policy Cancellation Method

• The first named insured can cancel the policy by mailing or delivering advance written notice.

Cancellation Notice Delivery

• The cancellation notice will be mailed or delivered to the first named insured's last known address.

Minimum Notice Period for Cancellation (Other Reasons)

• The minimum notice period for cancellation by the insurer for reasons other than nonpayment of premium is 30 days.

Transfer of Rights and Duties (Death of Insured)

• In the event of the death of the insured, the rights and duties under the policy are transferred to the legal representative of the deceased.

Crucial Information for Expediting Claims

• Policy number and detailed loss information are crucial for the insurer to expedite the handling of claims.

Insurer's Inspections

• The insurer does not provide assurance of safety compliance during inspections.

Wrongful Act Prior to Coverage Period

• If the insured is aware of any wrongful act prior to the coverage period, the wrongful act is excluded from coverage.

Agent of Record's Role

• Amynta Dealer Solutions is the agent of record.

Insured's Responsibility to Initiate Claims Process

• The insured must provide evidence of the damage or loss to initiate the claims process.

Policy Voidance and Economic/Trade Sanctions

• The policy is voided if the policy terms violate U.S. sanctions laws.

Cancellation for Nonpayment of Premium

• The insurer may cancel the policy for nonpayment of premium after providing a 10-day notice.

First Named Insured Canceling Policy

• The first named insured must mail or deliver an advance written notice of cancellation to cancel the policy.

Premium Refunds Upon Cancellation

• A pro rata refund is given if the insurer cancels, and less than pro rata if the insured cancels.

Policy Producer

• PDP Group, Inc. is the producer of the policy.

Insurer's Audit Right

• The insurer's audit right allows them to examine and audit the insured's books and records.

Duration of Audit Right

• The insurer's right to examine and audit books and records extends for 3 years after the policy period.

Policy Change Condition

• Changes must be documented and endorsed by the insurer to be valid.

Inspections and Recommendations

• Inspections are optional and do not ensure compliance.

Premium Refunds (Insured Cancels)

• Premium refunds are always less than pro rata if the insured cancels the policy.

Authorization for Policy Changes

• The first named insured can authorize changes to the policy terms with the insurer's consent.

Policy Term Change

• A written endorsement by the insurer is required for a change in the policy's terms to take effect.

Action for Policy Cancellation

• The first named insured must provide advance written notice for policy cancellation.

Inspection Conditions

• Inspections can be conducted at any time as deemed necessary by the insurer.

Compliance with Safety Regulations

• The insurer does not ensure compliance with safety regulations during inspections.

Premium Adjustment at Renewal

• The premium is adjusted according to the insurer's rates and rules in effect at renewal.