Reviewing the Policy Limits

Sean, a carrier owner in Denver, meets with his insurance agent Allison to discuss his upcoming policy renewal and coverage gaps.

Reviewing the Policy Limits

Listen and choose the right answer

What is Sean's main concern regarding his cargo coverage?

• His coverage limit is too low for stolen electronics.
• His insurance company is going out of business.
• His drivers are refusing to haul long-distance loads.

What dangerous clause does Allison discover in Sean's policy?

• An exclusion for driving during winter storms.
• An unattended trailer exclusion for unsecured yards.
• A penalty fee for late premium payments.

What would have happened if Sean had experienced a theft claim last month under the old terms?

• The insurer would have paid double the claim amount.
• The insurer would have denied the claim completely.
• The broker would have covered the loss out of pocket.

How much will removing the exclusion add to Sean's monthly costs?

• About forty dollars a month.
• About four hundred dollars a month.
• Nothing at all, it is free.

Listen again and complete the sentences

• Sean: Hi Allison, thanks for meeting me today to review our commercial ____ and cargo policy before the renewal.
• Allison: That's a tight ____ for high-value freight, especially with cargo theft on the rise in our region.
• Sean: Exactly. But for our clean claims history from two years ago, our ____ would've hiked our rates even higher.
• Allison: That's true, but we need to check your current ____ exclusions very carefully right now.
• Sean: What do you mean? Are there hidden traps in our ____ or auto liability agreement?

Sources: photo by Kampus Production on Pexels