What Is Broad Form Insurance Washington State? (Solved)

Washington State is one of the few states that allow Broad Form Insurance. This type of auto insurance provides only liability insurance and excludes every person besides the one who’s insured. Basically, this is the bare-bones coverage for only you as the policy holder, no one else driving your car is covered.

What does a broad form insurance policy cover?

Broad form insurance is a type of insurance policy that offers minimal auto liability for one person only. It covers the property damage and bodily injury sustained by another driver when involved in an accident.

Is broad form full coverage?

What is Broad Form Insurance? This type of car insurance provides coverage for employees, executives, or any other person who is supplied a company vehicle, but who does not own a personal vehicle, and thus does not have coverage under a personal auto policy.

Is broad form insurance expensive?

Broad form insurance is less expensive because it offers less coverage than other policies. However, if you end up in an accident that is not covered and have to pay expensive out of pocket costs, then having less coverage (that is cheaper) actually ends up being more expensive in the long run.

Which of the following is an example of broad form insurance?

Solution(By Examveda Team) An automobile insurance is an example of Broad Form Insurance.

What is broad policy?

A broad-form policy is an insurance policy that offers broad protection by providing coverage for losses resulting from several causes with few limitations. The coverage offered by a broad-form policy is higher than that offered by a basic-form policy, but lesser than open-peril policies.

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Does broad form include theft?

The couch falls under contents coverage. Her policy protects contents from just four perils: fire, theft, smoke, and flood. A burst water pipe doesn’t fall under any of those categories, so her insurance policy won’t cover damage to the couch in this case.

What is broad form deductible?

Broad Collision – or broad form collision, broadened collision is the level of coverage that waives paying any deductible unless you are AT-fault in a collision. That means if someone hits you, you don’t pay! Regardless of whether or not you are at fault you will pay the deductible at this level.

Does broad form cover earth movement?

Covered Causes of Loss Standard perils in Inland Marine may include fire, lightning, windstorm, flood, earthquake, landslide, theft, collision, derailment, overturn of the transporting vehicle, and bridge collapse.

What is the difference between comprehensive and broad home insurance?

A Comprehensive policy covers your belongings on the same “All Perils” basis and a Broad policy covers your contents on a “Named Perils” basis. The Broad policy will still cover losses like fire, smoke damage, and theft for your contents.

What states offer broad form insurance?

Though premiums for broad form insurance are low, it offers very little insurance protection and is not recommended for most drivers. It will only cover liability for one driver. You can only purchase broad form insurance in:

  • Colorado.
  • Delaware.
  • Idaho.
  • Iowa.
  • Maryland.
  • Mississippi.
  • Nebraska.
  • Nevada.

What is the difference between basic broad and special form?

Basic, Broad, and Special form are three common coverage forms when insuring property. Basic form is the most restrictive, while Special offers the greater level of protection.

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What are the broad form perils?

The broad causes of loss form (CP 10 20) provides named perils coverage for the perils insured against in the basic causes of loss form ( fire, lightning, explosion, smoke, windstorm, hail, riot, civil commotion, aircraft, vehicles, vandalism, sprinkler leakage, sinkhole collapse, volcanic action ), plus the following

What is the difference between standard and broad form collision?

The main difference between broad form collision and standard collision is the deductible. Benefits are payable “regardless of fault” under standard collision just as with broad form collision.

What is broad form home insurance?

The broad-form policy, also known as HO-2, covers loss or damage to your property from perils specified in the policy. Loss or damage from perils not named in the policy is not covered. The typical broad-form policy also covers damage from vandalism and theft, falling objects or the weight of ice and snow.

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