Risk Point - Medium

An insurance policy with an effective date of March 1, 2019, would not provide coverage for a loss occurring on which date?

If a vehicle inventory insurance policy has a term of one year starting March 1, 2019, on what date will the policy expire, assuming no cancellation or renewal?

In an insurance claim, if the listed insured is 'American Speed, Inc dba Mancuso Harley-Davidson,' which entity would directly receive claim payments?

If the total premium for an insurance policy is $185,684.00 and is paid in monthly installments, and the policy is cancelled after 6 months, what is the maximum refund the insured could expect, disregarding any cancellation fees?

A dealership has a 'Vehicle Inventory Program' insurance policy. Which event would this type of coverage primarily protect against?

Suppose a covered auto is valued at $300,000, but the maximum limit per covered auto under the Vehicle Inventory Program policy is $250,000. If that covered auto is totaled in an accident, what is the maximum the insurer will pay?

If an auto covered under a Vehicle Inventory Program policy sustains collision damage totaling $4,000 and the policy has a $2,500 deductible per auto, how much will the insured receive from the insurer?

Which of the following parties would directly handle claims and coverage questions related to a policy issued by Houston Specialty Insurance Company?

Under a Vehicle Inventory Program, the Comprehensive Rate per $100 of Auto Value is 0.7050. For an auto valued at $50,000, how much is the comprehensive premium?

Besides the brokerage fee, what compulsory charges are added to an insurance policy premium, impacting the insured's overall cost?

If a Vehicle Inventory Program policy includes a surplus lines tax of $9,005.67, what does this suggest about the insurer providing the coverage?

A vehicle inventory policy includes limited earthquake coverage. How might this coverage differ from coverage for other perils?

The policy number for an insurance contract is HRP0001887-00. Where would this number likely be used?

If an insurer cancels a Vehicle Inventory Program policy with 30 days' notice for reasons other than non-payment, what options does the insured have?

An auto suffers $6,000 worth of damage in a collision. If the policy specifies a $2,500 'Per Auto Deductible' for collision coverage, what amount would the insured pay, and what amount would the insurance company pay?

A Vehicle Inventory Program policy includes a Loss Payable Endorsement. What does this endorsement typically ensure?

An insurance policy for a Harley-Davidson dealership includes a 'Terrorism Coverage' endorsement. How does this endorsement affect claims arising from terrorist acts?

An auto covered under a Vehicle Inventory Program sustains water damage, and the policy document states the deductible for weather related comprehensive coverage is $2,000 per auto. If the loss is $7,000, what is the insurer's payment?

Under a Vehicle Inventory Program policy, parts are reimbursed at 75% and labor at 90% of customary costs. If a repair totals $1,000 for parts and $500 for labor, how much will the insurer pay?

A customer cons a dealership out of a vehicle worth $120,000 through deceptive practices. If the Vehicle Inventory Program policy has a False Pretense coverage limit of $100,000 per occurrence, how much of the loss is covered?

Which scenario would likely exhaust the $50 million overall aggregate limit of a Vehicle Inventory Program policy?

A covered vehicle is stolen from a dealership. Which condition would mandate visible signs of forced entry for the policy to cover it?

Why might a flood coverage waiting period be included in a Vehicle Inventory Program insurance policy?

What is the purpose of a 'policy issuance fee' in a Vehicle Inventory Program insurance policy?

How does the Vehicle Inventory Program policy treat motorcycles that are transported to a bike show in another state?

A Vehicle Inventory Program policy includes an 'Exclusion Modification Endorsement.' What does such an endorsement typically adjust?

How could the total cost of an insurance policy for a dealership featuring 'false pretense' coverage be clarified if the premium isn't specifically stated?

What would be the implication if a Vehicle Inventory Program policy did not specify separate coverage limits for vandalism?

Under a Vehicle Inventory Program policy, why is it beneficial for the insured that legal expenses are covered in full?

A vehicle is damaged in an accident, what would be considered Immediate Notification, that would be required from the insured?

A damaged vehicle requires replacement parts. What does 'paid at cost' by the policy mean, in these circumstances?

A Vehicle Inventory Program insurance policy offers coverage in 'the continental United States.' If a dealership transports vehicles to Hawaii for a promotional event and they are damaged during the event, will the policy cover those damages?

A Vehicle Inventory Program policy comes up for renewal. How does the policy's stipulation for 'renewal terms subject to re-evaluation of risk' impact the dealership?

Why doesn't the Vehicle Inventory Program policy include underinsured motorist coverage?

If a Vehicle Inventory Program policy covers 'acts of God' but with specific exclusions for certain events, what might those exclusions include?

What does 'pro rata refund less administrative fees' refer to, in the event that the insured terminates the policy mid-term?

What does it mean that additional insureds 'must be named explicitly' in the Vehicle Inventory Program?

What control does the insured have over use of 'aftermarket parts'?

How does adjusting the Vehicle Inventory Program policy during renewal compensate for market shifts and economic trends?

What is the extent of coverage for dealership loaner vehicles under the Vehicle Inventory Program Policy?