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WorksheetsFarm Inland Marine Forms Quiz
Total questions: 10
Worksheet time: 5mins
What is the revised definition of water damage under Special Cause of Loss?
Damage caused by equipment failure
Damage caused by natural disasters
Damage when a municipal water or sewer pipe off premises breaks due to wear and tear
Damage caused by flooding from rivers
Which exclusion was rewritten to add clarity and explain it applies at any time?
Utility services exclusion
Inventory shortage
Dishonest acts of insured, partner, employees, etc.
Disappearance of portable structures
What does FP DS 30 provide?
Coverage for livestock
Declarations for Mobile Agricultural Machinery
Coverage for equipment breakdown
Essential identifying information such as name, address, premium, and endorsements
What is the standard deductible shown on FP DS 31?
$2,000
$1,000
$500
$250
What is the maximum value for individual items included in the blanket coverage for miscellaneous items?
$1,000
$2,000
$5,000
$10,000
Why is Equipment Breakdown Protection Coverage needed?
Because it includes livestock coverage
Because it covers dishonest acts of employees
Because it provides coverage for natural disasters
Because standard commercial property forms exclude loss or damage caused by machinery or equipment breakdowns
What does the Equipment Breakdown Protection Coverage Form encourage the insured to do?
Focus only on the declarations page
Request additional endorsements
Carefully read the entire policy to determine rights and duties
Ignore the exclusions section
What is the only covered cause of loss under Equipment Breakdown Protection Coverage?
Natural disasters
Utility surges
Breakdown to covered equipment
Spoilage damage
What does Expediting Expenses coverage apply to?
Loss of business income
Damage caused by earthquakes
Additional costs to make temporary repairs and expedite permanent repairs or replacement
Spoilage damage to raw materials
What condition must be met for spoilage damage coverage to apply?
The property must be owned by the insured and located off premises
The property must be in storage or in the process of being manufactured
The property must be damaged by natural disasters
The property must be listed in the declarations
