Which one of the following statements is correct with respect to the Building and Personal Property Coverage Form's (BPP) coverage for personal property of others? The BPP specifically excludes coverage for businesses (bailees) that have customers' property in their custody, such as laundries, dry cleaners, appliance repair shops, and furniture upholstery shops. Coverage protects the insured while the property is in or on the building described in the declarations or within 100 feet of either the building or structure, whichever is greater. The BPP covers personal property of others while it is located anywhere in the world. Coverage for personal property of others applies only if the insured is legally responsible for the damage.
Which one of the following statements is correct with respect to the Building and Personal Property Coverage Form's (BPP) coverage for personal property of others? The BPP specifically excludes coverage for businesses (bailees) that have customers' property in their custody, such as laundries, dry cleaners, appliance repair shops, and furniture upholstery shops. Coverage protects the insured while the property is in or on the building described in the declarations or within 100 feet of either the building or structure, whichever is greater. The BPP covers personal property of others while it is located anywhere in the world. Coverage for personal property of others applies only if the insured is legally responsible for the damage.
Chapter10: Managing Property And Liability Risk
Section10.3: Homeowner’s Insurance
Problem 1CC
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Which one of the following statements is correct with respect to the Building and Personal Property Coverage Form's (BPP) coverage for personal property of others?
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The BPP specifically excludes coverage for businesses (bailees) that have customers' property in their custody, such as laundries, dry cleaners, appliance repair shops, and furniture upholstery shops.
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Coverage protects the insured while the property is in or on the building described in the declarations or within 100 feet of either the building or structure, whichever is greater.
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The BPP covers personal property of others while it is located anywhere in the world.
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Coverage for personal property of others applies only if the insured is legally responsible for the damage.
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT