Named Insured Provisions (UT-PC)

“Insured” is most accurately defined as

Someone whose name is listed on the policy declarations is called

Louis, David, and Greg are all named insureds on a commercial insurance policy, in that order. Who is responsible for paying the policy’s premiums and has the authority to change or cancel the policy?

Which of the following statements is FALSE about an additional insured?

After a loss has occurred, the insured is required to give notice to the insurer, cooperate with the insurer, and protect the property from further damage. These are examples of

Following a house fire, Marcie was required to sign a document for the insurance company which testified as to what had been damaged in the fire. What is this document called?

Due to his advanced age, John is no longer able to drive his truck. He transferred ownership of his truck to his grandson Elliot. John also wants to transfer ownership of his auto insurance policy to Elliot. Which of the following statements is true about transferring ownership of an insurance policy?

Gregor was in an accident with his truck up in the mountains about 20 miles east of Blackfoot. The truck was disabled and Gregor was unable to drive it. He left the truck in the mountains and hitchhiked back to Pocatello without notifying anyone of the accident. Gregor’s actions are considered

The insured’s actions, words, or failure to comply with a policy condition or provision could result in

Which of the following statements is FALSE about insureds under a personal insurance policy?

If a person owns a home and has a mortgage on the property, the mortgagee (lender) will require that person to have a homeowners insurance policy listing the mortgagee as