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Aug 6th, 2022
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How to Clean symbol in the Insurance Plan

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hey everyone im david reckadree with wreck drain associates and i want to share a few things that might help you better understand your business auto coverage if youve looked through your business auto policy youve probably noticed on the deck pages that certain numbers or symbols indicate your auto liability coverage the most common symbols are one seven eight and nine but in all theyve run one through nine well i want to give you a quick explanation of the different symbols symbol one covers your liability for any auto its the symbol that provides the broadest coverage and provides the most benefit to the insured symbol two covers your liability for any owned auto regardless of whether or not the auto is listed on the policy if the business owns the car theres liability coverage symbol 3 indicates liability coverage for owned private passenger autos and symbol 4 applies to other than private passenger autos symbols 3 and 4 are pretty uncommon and relate mostly to niche industr

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Symbol 2 is defined as Only those autos you own. This includes those autos you acquire ownership of after the policy begins. Under symbol 2 a vehicle acquired during the policy period is covered for the balance of the policy period. It is not covered beyond the policy period unless added to the policy.
Auto coverage symbols are Arabic numerals (19 and 19 for business auto, 2131 for garage, 4150 and 59 for truckers, and 6171 and 79 for motor carrier) used to denote to what category of autos a commercial auto policys various coverages will apply.
Symbol 7: Scheduled Vehicles The most common type of coverage purchased for Business Auto is Symbol 7 Symbol 7 coverage refers to any scheduled or listed vehicles on your policy. It is like Personal Auto coverage.
Symbol 5 is used to provide no-fault coverage for autos you own when such coverage is required by law. No-fault auto laws exist in twelve states and Puerto Rico. 4 Symbol 6 is used to trigger uninsured motorist coverage for autos you own.
Symbol 2 is defined as Only those autos you own. This includes those autos you acquire ownership of after the policy begins. Under symbol 2 a vehicle acquired during the policy period is covered for the balance of the policy period. It is not covered beyond the policy period unless added to the policy.
Symbols 2, 3, and 4 can be used to trigger liability or physical damage coverage. Symbol 2 initiates coverage for all autos you own, including private passenger type autos and commercial vehicles (trucks). Symbol 3 designates private passenger autos only while symbol 4 triggers coverage for commercial vehicles only.
4 = Owned Autos Other Than Private Passenger Autos Only This symbol covers all autos other than private passenger type autos (vans, trucks, motorized equipment) owned by an insured, including such vehicles that may be acquired after the policy begins.
Symbol 1 is any auto. The auto does not have to be declared and when it was purchased makes no difference. With symbol 1, the liability claim is covered. Symbol 1 covers any auto (owned, borrowed, rented, hired) for liability.

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