Symbols in Commercial Auto Flashcards

Study Notes

Business Auto Coverage Form

Comprises five sections:
- Covered Autos
- Liability Coverage
- Physical Damage Coverage
- Business Auto Conditions
- Definitions

Symbol 1: Any Auto

Covers all autos: owned, hired, or neither.
Applies only to liability insurance.

Symbol 2: Owned Autos Only

Covers all automobiles owned by the insured during the policy period.
Applicable to liability, medical, uninsured motorists (UM), and physical damage.

Symbol 3: Owned Private Passenger Autos Only

Provides blanket coverage solely for private passenger vehicles.

Symbol 4: Owned Autos Other Than Private Passenger Autos Only

Offers blanket automatic coverage for vehicles other than private passenger cars.

Symbol 5: Owned Autos Subject to No-Fault

Grants blanket coverage for all vehicles mandated to have no-fault insurance.

Symbol 6: Owned Autos Subject to Compulsory Uninsured Motorists Law

This symbol is not utilized in Florida.

Symbol 7: Specifically Described Autos

Covers specific vehicles mentioned in declarations.
Coverage depends on all owned autos being listed on the policy or replaced by a covered auto.
Insured must inform the insurance company within 30 days of any changes.

Symbol 8: Hired Autos Only

Coverage is limited to autos hired, rented, leased, or borrowed from non-employees or their household members.

Symbol 9: Nonowned Autos Only

Provides coverage for autos not owned, leased, hired, rented, or borrowed from employees or their household members.

Symbol 19: Mobile Equipment

Coverage applies only to mobile equipment subject to compulsory or financial responsibility or other motor vehicle insurance laws.

Description

This quiz focuses on the key symbols and sections found within the Business Auto Coverage Form. Participants will learn about the different types of covered autos, liability coverage, and more. Perfect for those studying commercial auto insurance policies.