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54 Cards in this Set
- Front
- Back
4 Types of Commercial Auto Forms
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(90% of time) -The Garage Coverage Form -The Trucker Coverage Form -Motor Carrier Form |
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BAP- Section 1- Covered Autos
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on the dec page of the BAP, a symbol appears next to each coverage listed Symbols 1-5 allow the insured to purchase liability coverage, physical damage, coverage or both Symbols 6-19 provide only liability coverage; no pd coverage can be purcahsed with these symbols |
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Symbol 1- Any Auto
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broadest coverage, b/c it has no limitations or restrictions on the type of auto is covered, if vehicle is an "auto" it is subject to certain exclusions and conditions- many insurance companies use it cautiously and may only use to cover liability, no pd |
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Symbol 2- Owned Autos Only |
used to cover any auto that is owned by the named insured, including those purchased after inception date, any owned or non-owned trailer being pulled by an owned vehicle is also covered, but only for liability |
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Symbol 3- Owned Private Passenger Autos Only |
used to cover any private passenger auto that is owned by the named insured, might be used if the insurer is willing to cover a fleet of private passenger autos but doesn't want to assume the liability of any larger vehicles that the insured may acquire after the inception date |
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Symbol 4- Owned Auto Other Than Private Passenger Autos |
used to cover any auto, other than a priavte passenger auto, that is owned by the named insured, auto purchasd after inception date are covered as long as they are the same type of vehicle, owned & non-owned trailers ar also covered for liability only, if they are attached to owned vehicle
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(PIP) Benefits |
applies to vehicles licensed or garaged in a state where no-fault coverage is available, but only to autos required to have such coverage, autos acquired after inception date are also covered
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Symbol 6- Owned Autos Subject to Compulsory Uninsured Motorist Law |
insured, that is licensed or garaged in a state that requires insureds to carry UM coverage |
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Symbol 7- Specifically Described Autos Only
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in the policy & with a load capacity of less than 2,000 pounds, insured only has 30 days to report newly acquired autos |
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Symbol 8- Hired Autos Only
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rented or borrowed from an EE, business partner, LLC member or any of the preceding group's households |
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Symbol 9- Non-owned Autos Only
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used to provide liability coverage for the use of autos that the named insured does not own, lease, hire, rent or borrow that are used in connection with the named insured's business, may be an auto owend by an ee or by partners or members of their housholds, or by anyone else being used to run an errand for named insured |
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Symbol 19- Mobile Equipment Subject to Compulsory Auto Financial Responsibility Requirements
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applied to land vehicles that are conisdered mobile equipment under the definition of mobile equipment, extends the BAP to cover mobile equipment only in those states where such equipment is subject to registration and/or licensing laws |
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BAP Section II- Liability Coverage
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covers legal liability of the insured up to the liability limit plus unlimited efnese costs and supplementary payments for "auto accidents" which occur during the policy period, pollution damage will be covered if caused by the accident |
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BAP- Insureds |
-named insured while owning or operating a covered auto -others, including any employee, while using a covered auto with permission -other who become liable for the conduct of an insured -EE's while loading or unloading property to or from a covered auto |
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BAP- Not Covered
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person working in an auto-type business unless that's the insured's business, persons other than an ee while proving property to/from covered auto, owner of a hired or borrowed auto and partners and members of a LLC are not insureds for any auto owned by the partner or member or for any auto owned by a member of their households |
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BAP-Supplementary Payments- Insurer will pay on behalf of insured
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all expenses the insurer incures, up to $2000 for bail bonds, cost of bonds to release attachments in any "suit" against the "insured", reasonable expenses incurred by the insured including loss of earnings up to $250 per day b/c of work time missed due to the "suit", all court costs taxed against the insured, accrued interest in any judgment |
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BAP- Out of State Coverage Extension
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increases the limit of liability coverage to meet the limits specified by compulsory or financial responsibility laws of the jurisdiction where the covered auto is being used including no fault coverage applies when covered auot is away from the state where it is licensed |
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BAP Exclusions
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agreement; EE injuries,ER's liability or responsibilities under WC or similar law; claims for consequential damage brought by relatives of an injured fellow EE, damage to property owned or transported by or in care, custody or control of the insured, |
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BAP Exclusions
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liability resulting from handling of property, before it is moved from the place where it is accepted by the insured for movement to a coverd auto, liability from the movement of property by a mechanical devise that is NOT attached to covered auto, liability for pollusion or contamination unless arising from normal operating fluids of the vehicle |
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BAP Exlcusions |
contests and war |
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BAP- Limit of Insurance
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the limit shown on the dec page for liability coverage is the most that will be paid for all damages and covered pollution costs resulting form any one accident reegardless of the number of covered autos, insureds, premiums paid, claims made or vehicles involved in the accident.
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BAP Section III- Physical Damage Coverage- Collision
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overturn of the covered vehicle or collision with another object |
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BAP-Section III- Physical Damage Coverage- comprehensive
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any loss, other than collision or overturn that is not otherwise excluded, includes glass breakage or hitting an animal
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BAP-Section III- Specified Casuses of Loss |
the sinking, burning, collision or derailment of a conveyance transporting the covered auto (such as a ship) |
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BAP-Section 3- Transportation Expenses
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insurer will pay up to $20 per day to a maximum of $600 for temporary transportation expense incurred by the insured b/c of the total theft of a covered auto of the private passenger type, begin paying 48 hours after theft |
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BAP-Section 3- Loss of Use Expenses |
insurer will pay expenses for which an insured becomes legally responsible to pay for loss of use of a vehicle rented or hired without a driver, under a written rental contract or agreement- coverage of $20 per day up to a max of $600 is available |
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BAP- Loss of Use Expenses- Paid if Caused by
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comprehensive coverage only if decs indicate that comprehensive coverage is provided for any covered auto ; specified causes of loss coverage only if the decs indicate that specified causes of loss coverage is provided for any covered auto; collision coverage only if the decs indicate that collison coverage is provided for any covered auto |
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BAP- Physical Damage Exclusions
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BAP- Physical Damage Exclusions |
equipment used for radar or laser detection; electronic equipment that receives or transmits audio visual or date signals, to diminutiion in value due to the covered vehicle being involved in an accident |
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BAP- limit of insurance |
in the event of a total loss, deprec and physical condition will be considered when determining ACV, if repair or replacement results in better than the like kind or quality, the amount of the betterment is not covered ; $1000 max for electronic equipment perm installed that is not normally used by atuo maker; payments will be reduced by the applicable ded.
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BAP- Section IV- Conditions
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most common conditions, duties of the insured following a loss, subro, liberalization, policy periods and coverage territory, premium audit condition specifies due date for final or retrospective premium is one show on the bill sent to the first named insured |
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BAP-Section IV- Conditions
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forms provide worldwide liability coverage for private passenger autos the insured hires, leases, rents or borrows without a driver for a period of 30 days of less |
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Auto |
land motor vehicle, trailer or semi-trailer designed for travel on public roads, generally does not include mobile equipment |
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bodily injury |
death resulting from any of these |
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property damage
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damage to or loss of use of tangible property |
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covered pollution cost or expense |
costs arising out of any order by a gov authority demanding that the insured test for, monitor, clean up, remove, contain, treat, detoxify or neutralize, or respond to or assess the effects of pollutants, does no apply to fuels, lubricants, fluids, exhaust gases, or other pollutants necessary or resulting from normal operation |
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pollutants |
any solid, liquid, gaseous or thermal irritant or contaminant including smoke, vapor, soot, fumes, acids, alkalis, chemical and wate- waste includes materials to be recycled, reconditioned or reclaimed |
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diminution of value |
an actual or perceived loss in market or resale value that results from a direct, accidental loss |
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temporary worker |
or to meet seasonal or short-term workload conditions |
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accident
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with commercial auto coverages, an "accident" includes continuous or repeated exposure to the same conditions resulting in BI or PD |
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BAP endorsements- can be added
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-uninsured motorist -underinsured motorist -medical payments/ PIP within 3 years -drive other car coverage -individual named insured -employees as additional insureds -additional insure/lessor endorsement -specified hire auto & -mobile equipment |
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Garage Form (vehicles) (symbols 21-31) |
similar to commercial GL policy covering the premises/operations and products/completed operations hazards as well as providing automobile coverage liability- car dealerships, services statiosn, valet services and parking garage/lots are eligible to be covered under the Garage Policy |
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Exclusions to Garage Liability |
watercraft or aircraft, injuries that fall under WC, liabilities for damage caused by pollution, loss of use of property if not physically damgegd if it was caused by a delay or failure of the insured to fulfill terms of contract or agreement, claims for product or work recall & liability for real or personal property in teh insured's care, custody & control |
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garagekeepers liability
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a type of bailee coverage avaiable to automobile repair shops, service stations, valet services and parking lots or storage garages- written either on legal liability basis or direct and primary basis |
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losses not covered by garagekeepers policy
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theft by an insider; contractual liability; products or work loss, sound reproducing or receiving equipment, other losses such as war, rebellion, racing etc, also clear title issues |
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garage policy- pd section IV (for business itself) |
for dealerships, a "blanket limit" can be provided to cover the entire inventory, a monthly or quarterly inventory report will be required to verify the fluctuating values of inventory, ded apply with a maximum per loss, if covered auto is driven or transported more than 50 miles from point of purchase or distribution, collision coverage is excluded |
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Garage Policy Endorsements
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driver other car coverage, false pretense- covers theft when the dealership voluntarily parts w/ property b/c of trick or scheme, dealer's driveaway collision- removes the 50 miles exclusion |
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Truckers Form
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truckers use their cabs w/ different bodies to transfer- plackard- on trucks- shows who provides coverage |
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Truckers Form- Symbols
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uses 41-49; 48 & 49 describe coverage applying to trailers in the insured's possession under a written Trailer Interchange Agreements |
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Motor Carrier Coverage Form (transporting property or passengers, trucks, taxis, buses, limos, etc) |
alternative to the Truckers Form, motor carrier is anyone who transports property by auto in a commercial enterprise regarless of whether he or she was hired for that purpose, coverages are triggered by using symbosl 61-71, |
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Trailer Interchange Agreement |
69- coverage for trailers listed under a trailer interchange agreement that are left in the insured's possession 70- provides coverage for your trailers when listed under a trailer interchange agreement that are in the possession of another trucker |
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Motor Carrier Act of 1980
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proof of pollution liability insurance Type 1- for hire transporation of nonhazardous property in interstate or foreign commerce the minimum limit is at least $750,000 |
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Motor Carrier Act of 1980
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Type 2- for hire or private transportation of hazardous substance with a minimum limit of $5 million Type 3- for hire and private transportation of oil listed as a hazardous substance or any hazardous waste or substance not included in Type 2 with a minimum limit of $1 million |
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Motor Carrier Policies of Insurance of Public Liability Endorsement (MCS 90)
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attached to a policy under which the motor carrier is insured against auto liability claims, used to assure the vehicle has both pollution liability coverage and is provided at the proper limit |