Which of the following types of theft is NOT covered by the Commercial Property Insurance Broad Form?

Prepare for the IBABC Fundamentals of Insurance Exam with our detailed quizzes. Utilize flashcards and multiple-choice questions with hints and explanations to ace your exam!

The correct answer is that theft from a cash register is not covered by the Commercial Property Insurance Broad Form. This type of theft is specifically excluded because it involves the theft of money or securities from inside a premises or while in the custody of a financial institution, which is typically covered under a different policy type, such as a crime insurance policy.

In contrast, other types of theft mentioned, such as theft of equipment from a storage unit or theft during bank deposits, may be covered under the Broad Form, since these situations deal with the physical property that falls under the typical scope of commercial property coverage. Theft of property from employees can also sometimes be covered, depending on the policy specifics and how the theft occurred.

Understanding exclusions in insurance policies is crucial, as it helps businesses identify their coverage needs and any additional policies they might need to safeguard against potential losses that might not be covered under their primary commercial property insurance.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy