What are the symbols in insurance?

What are ISO symbols?

ISO Symbols are the industry-standard vehicle rating solution, built on an extensive inventory of vehicle characteristics and loss experience. ISO Symbols are advisory. Insurers can use the rating relativities as-is or adjust them to fit their unique needs and experience.

What is symbol 10 on auto policy?

Symbols 10 (business auto), 32 (garage), 51 and 52 (truckers), and 72 and 73 (motor carrier) are custom symbols, available through the use of the covered autos designation symbol endorsement (CA 99 54), which allows the insurer and named insured to agree to some modified wording that is a better fit in defining the …

What is symbol 2 on a commercial auto policy?

The 2001 ISO Business Auto Coverage Part defines symbol#2 as owned autos only. … 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.

What is symbol 21 on a garage policy?

It may also be used to provide medical payments insurance for non-dealers. Provides coverage for owned autos other than private passenger autos and includes automatic coverage for other than private passenger autos the insured newly acquires. … Any vehicle that is not a private passenger auto fits within this symbol.

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What is a symbol for safety?

A safety alert symbol has been added as a key component to OSHA’s safety sign standard. This symbol, an exclamation point surrounded by a triangle, indicates a potential personal injury hazard, and should not be used for possible damage to equipment or machines.

What do auto symbols mean?

1 = Covers “autos” owned by the insured, including those attained after the policy begins. ( OWNED AUTOS ONLY) 2 = Covers only private passenger “autos” that are owned by the insured. ( OWNED PRIVATE PASSENGER AUTOS ONLY) 3 = Covers all “autos” (other than private passenger vehicles owned by the insured. (

What is a vehicle symbol?

A Symbol is a code used in ISO’s Vehicle Series Rating (VSR) program. The purpose of Vehicle Series Rating is to match premiums for each particular type of car to losses for that type of car.

What are the symbols in a commercial auto 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.

What are the commercial auto symbols?

Commercial Auto Symbols – Part 1

  • 1 = Any “Auto” …
  • 2 = Owned “Autos” Only. …
  • 3 = Owned Private Passenger “Autos” Only. …
  • 4 = Owned “Autos” Other Than Private Passenger “Autos” Only. …
  • 5 = Owned “Autos” Subject To No-Fault. …
  • 6 = Owned “Autos” Subject To A Compulsory Uninsured Motorist Law. …
  • 7 = Specifically Described “Autos”

What does the symbol 3 mean?

<3 is a typographical representation of a heart, used to convey love and similar warm feelings online and often evoking early internet culture.

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