In this quiz, we’ll be learning all about how the process of ensuring commercial property works. Commercial property is defined as any buildings or land which is intended to be used to generate a profit, be it from rental income or capital gain. What do you know about commercial property insurance?
Collapse
Explosion
Volcanic eruption
Nuclear hazard
40 hours
72 hours
168 hours
24 hours
Basic
Broad
Special
Both Basic and Broad
Basic
Broad
Special
All of the above
Basic
Broad
Special
All of the above
Inventory stored at the insured's warehouse
An addition to the insured's store on which construction has just begun
Fire extinguishers located in the insured's factory
Office furniture and supplies kept in the insured's building.
$21,000
$20,000
$24,000
$26,000
Lawn
Driveway
Private company jet
Animals held for sale
Always
Never
If the insured meets the coinsurance requirements and costs are $2,500 or less
Whenever the total amount of loss does not exceed 25% of the policy limit
Buildings
Furniture and fixtures
Glass
Valuable papers and records
Attempted theft
Sprinkler leakage when the insured had protected the system against freezing
Vandalism
Glass breakage
Building under construction
Foundation of the building under construction
Fixtures, machinery, and equipment used to service the building if they will become a permanent part of the building and are located within 100 feet of the building
All of the above
5
10
20
25
$10,000
$20,000
$25,000
$50,000
$1,000
$2,500
$5,000
$7,500
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