Question
A small business owner purchased an unendorsed Building and Personal Property Coverage Form (BPP) with a $120,000 limit on the building, a $60,000 limit on
A small business owner purchased an unendorsed Building and Personal Property Coverage Form (BPP) with a $120,000 limit on the building, a $60,000 limit on Your Business Personal Property, and a $500 deductible. A covered loss resulted in damage of $50,000 to the building and $65,000 damage to the insured's business personal property. What will the insurer pay for this loss?
A. $109,000 | |
B. $109,500 | |
C. $110,000 | |
D. $115,000 |
Under the Building and Personal Property Coverage Form (BPP), which one of the following is property not covered?
A. A retaining wall in front of the insured building | |
B. A desk that was custom-ordered for the company's CEO | |
C. A bottling machine the company is leasing long-term | |
D. A crate used to carry empty bottles to the cleaning machine |
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