Florida Insurance Licensing Practice Exam

In the business auto policy, what does symbol 1 for liability denote?

1. "any auto"

2. "owned autos only"

3. "owned private passenger autos"

4. "owned autos other than private passenger autos"

The correct answer is: "any auto"

Symbol 1 for liability in the business auto policy denotes coverage for "any auto", which means that it covers liability for all vehicles used in your business, whether owned, hired, or borrowed. This is the broadest form of coverage and includes all types of vehicles, from private passenger autos to commercial trucks and trailers. This option is correct because it covers the widest range of vehicles and is therefore the most comprehensive option. The other options are incorrect for the following reasons - B: "owned autos only" would only provide coverage for vehicles that are owned by the business, but would not cover liability for hired or borrowed vehicles. - C: "owned private passenger autos" would only provide coverage for private passenger vehicles that are owned by the business, but would not cover liability for other types of vehicles, such as commercial trucks and trailers. - D: "owned autos other than private passenger