Garage and Truckers Coverage Flashcard

Front

Numerical symbols for covered autos on Garage Coverage insurance form?

Back

21 - 29

Answer explanation

James should look for the symbols 21 - 29, as these are specifically used to identify covered autos in Garage Coverage insurance forms, distinguishing them from other ranges.

Front

Which symbol covers customers’ autos left with the insured for service?

Back

Symbol 30

Answer explanation

Symbol 30 specifically covers customers' autos left with the insured for service, making it the correct choice for this scenario involving Oliver's auto repair shop.

Front

Which situation would be covered by Garagekeepers coverage?

Back

Damage to customer vehicles in the insured's care

Answer explanation

Garagekeepers coverage specifically protects against damage to customer vehicles while they are in the insured's care, making this the correct choice. Other options do not fall under this type of coverage.

Front

Which situation is NOT covered under the Garage Coverage form's liability exclusions? Options: Property damage to the insured’s own products, Damage to property of others in the insured’s care, Theft of a car by an employee, Product or work recalls.

Back

Theft of a car by an employee

Answer explanation

Theft of a car by an employee is not covered under liability exclusions, as it pertains to employee actions rather than the insured's products or property in care, which are excluded.

Front

What is the purpose of the MCS-90 Endorsement?

Back

To provide public liability coverage for bodily injury and property damage

Answer explanation

The MCS-90 Endorsement ensures that trucking companies like Arjun's have public liability coverage for bodily injury and property damage, fulfilling legal requirements and protecting the public.

Front

Minimum liability limit for interstate transportation of non-hazardous material under the Motor Carrier Act?

Back

$750,000

Answer explanation

The minimum liability limit for interstate transportation of non-hazardous materials under the Motor Carrier Act is $750,000. Therefore, Priya must ensure her trucking company meets this requirement.

Front

Avery needs coverage for vehicles not owned, hired, or borrowed by the company. Which endorsement extends this coverage?

Back

Drive Other Car Coverage Endorsement

Answer explanation

The Drive Other Car Coverage Endorsement extends coverage to vehicles not owned, hired, or borrowed by the company, making it the correct choice for Avery's needs.

Front

Main difference between Truckers Coverage form and Motor Carrier Coverage form?

Back

The Motor Carrier form covers private passenger autos

Answer explanation

The Motor Carrier Coverage form is designed to cover private passenger autos, while the Truckers Coverage form does not. This is the key distinction that Henry should explain to the client.

Front

Which symbol should Zoe use for trailers borrowed or leased under a trailer exchange agreement?

Back

Symbol 48

Answer explanation

Zoe should use Symbol 48 for trailers borrowed or leased under a trailer exchange agreement, as it specifically designates such arrangements in trucking operations.

Front

What type of coverage does Garagekeepers insurance provide on a primary or excess basis for vehicles left in care?

Back

Direct damage

Answer explanation

Garagekeepers insurance provides direct damage coverage for vehicles in Maya's care, protecting against loss or damage while they are being serviced. This is essential for auto repair shops.