Bailees' customers floater provides coverage for property while it is in whose custody?

Unlock all questions

This demo includes only 20 questions. Upgrade to access hundreds of questions, flashcards, exam simulations, and disable ads.

Full question bankExam simulationsFlashcards
From $24.99Unlock all

Prepare for the Texas General Lines Property and Casualty Agent Exam with our comprehensive resources. Study using flashcards and multiple-choice questions equipped with hints and explanations. Ace your exam with confidence!

Multiple Choice

Bailees' customers floater provides coverage for property while it is in whose custody?

Explanation:
Bailees' customers floater covers property of others while it is in the care, custody or control of the insured (the bailee). When a business like a dry cleaner or tailor takes in a customer's item for service, that item becomes the bailee’s responsibility. The floater protects that customer property while it’s under the bailee’s custody, whether on the premises or in transit. It does not apply to property still in the customer’s own custody, nor to custody held by the insurer or the manufacturer.

Bailees' customers floater covers property of others while it is in the care, custody or control of the insured (the bailee). When a business like a dry cleaner or tailor takes in a customer's item for service, that item becomes the bailee’s responsibility. The floater protects that customer property while it’s under the bailee’s custody, whether on the premises or in transit. It does not apply to property still in the customer’s own custody, nor to custody held by the insurer or the manufacturer.

More Multiple Choice Questions
Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy