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What is NOT a rating factor used for Automobile insurance? Age of the driver. Marital status of the driver. The distance the vehicle will be driven annually. Whether the driver has a homeowners policy with the same Broker.
Transcribed Image Text:What is NOT a rating factor used for Automobile insurance? Age of the driver. Marital status of the driver. The distance the vehicle will be driven annually. Whether the driver has a homeowners policy with the same Broker.
Jalena has a homeowners policy, and calls her Broker to let them know that she is starting to teach piano lessons on a part-time basis out of her home. What should the Broker do? Advise Jalena that no change is required on her policy. Check if this is an eligible type of home-based business with her insurer and update the policy accordingly. Inform Jalena that she needs a commercial policy. Document the change in the Broker Management System for review on renewal.
Transcribed Image Text:Jalena has a homeowners policy, and calls her Broker to let them know that she is starting to teach piano lessons on a part-time basis out of her home. What should the Broker do? Advise Jalena that no change is required on her policy. Check if this is an eligible type of home-based business with her insurer and update the policy accordingly. Inform Jalena that she needs a commercial policy. Document the change in the Broker Management System for review on renewal.
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