BAP Coverage Symbols: Thar’s Gold in Them Thar Numbers

Description

Although the Coverage Symbols are a “basic” of business auto coverage, there is actually a lot of key information in the symbols.

ISO created 10 specific Coverage Symbols to define which vehicles are protected by the BAP. The commonly used coverage symbols are divided into three categories:

General Purpose Symbols

Statutory Symbols

Special Purpose Symbols

And what many agents don’t know is that there is also an option to create additional coverage symbols.

Beyond the gold in the Coverage Symbols, the last part of this session focuses on coverage for Trailers – which is a very common coverage question. Whose policy provides primary coverage and whose policy provides excess coverage when a trailer owned by one party is pulled by a vehicle owned by another? That’s what we discuss in this part.

When this session is over, Coverage Symbols will be crystal clear and your new-found knowledge will be as valuable as gold (OK, so maybe that’s a bit of hyperbole).