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?
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
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Basic
Broad
Special
Both Basic and Broad
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$21,000
$20,000
$24,000
$26,000
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$10,000
$20,000
$25,000
$50,000
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Lawn
Driveway
Private company jet
Animals held for sale
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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
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Collapse
Explosion
Volcanic eruption
Nuclear hazard
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40 hours
72 hours
168 hours
24 hours
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Basic
Broad
Special
All of the above
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5
10
20
25
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Attempted theft
Sprinkler leakage when the insured had protected the system against freezing
Vandalism
Glass breakage
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Basic
Broad
Special
All of the above
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Buildings
Furniture and fixtures
Glass
Valuable papers and records
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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.
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Quiz Review Timeline (Updated): Mar 22, 2023 +
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