Florida General Lines Agent Practice Exam 2025 – Comprehensive All-in-One Guide to Certification Success!

Question: 1 / 400

What is the automatic coverage limit for newly acquired business personal property at the insured location?

$50,000 for 30 days

$75,000 for 30 days

$100,000 for a maximum of 30 days

The automatic coverage limit for newly acquired business personal property at the insured location is indeed $100,000 for a maximum period of 30 days. This coverage provision is typically found in commercial property insurance policies and serves to protect the insured against the risks associated with acquiring new assets.

This limit allows business owners to maintain continuity in their operations during the transitional period after acquiring new equipment or inventory. The 30-day timeframe is significant as it provides a sufficient window for businesses to either add the new property to their existing policy or assess their needs regarding coverage limits and potential risks.

Understanding this automatic coverage limit is crucial for business owners, as it ensures they have adequate protection without immediate adjustment or endorsement to their policy, thus streamlining the process of enhancing their business assets.

Get further explanation with Examzify DeepDiveBeta

$150,000 for 60 days

Next Question

Report this question

Download Florida General Lines Agent Practice Exam PDF Study Guide
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy