Business Auto Coverage for Nonowned Trailers
Question: “The commercial auto policy automatically includes coverage for a trailer pulled by that vehicle so long as the GVW is under 2,000 lbs. Many insureds have trailers titled in…
Commercial Lines
Contact with Animal NOT a Collision?
A Business Auto Policy was written with Collision and Specified Causes of Loss coverage. The insured struck a deer and the adjuster denied the claim on the basis that, since…
Is Sales Tax Covered by an Auto Policy?
Your insured’s auto is totaled by a negligent driver. The at-fault party’s insurer has agreed to compensate your insured’s loss of value. However, in purchasing a replacement vehicle, the insurer…
Business Income and Cancellation of Contracts
An entertainment center generates much of its income from the many contracts it has with various groups. If there was a major loss and the groups cancelled their contracts and…
Understanding the Business Income Monthly Limit of Indemnity Option
The ISO Business Income program has a Monthly Limit of Indemnity option that allows the entry of factors of 1/3, 1/4, or 1/6 on the declarations page. Does this mean…
Net Income vs. Continuing Expenses
Business income insurance covers net income and continuing expenses while a business is interrupted due to a covered loss. What if the business would have been operating at a financial…
Business Income and Civil Authority Curfews
An ice and windstorm shut down a 24-hour restaurant due to off-premises power failure. The power was restored fairly quickly but a 6 p.m. to 6 a.m. curfew was imposed…
The BAP and Temporary Substitutes
Question: “My customer has a Business Auto Policy (BAP) with Symbol 1 for liability and Symbol 7 for physical damage. One of their autos will be in the shop for…
Do Businesses Need to Buy UM Coverage?
In today’s market, everyone is looking for a way to reduce premiums. One method that is sometimes used is to not carry UM coverage under the BAP. After all, if…
Insuring Commercial Trailers Without Owned Autos
You’re quoting a business with a BOP that has Hired/Nonowned Auto coverage. The business purchases three trailers to take to job sites and trade shows. The trailers will be hauled…
