Question

Jill arrives to open the bank one morning to find the door hanging open. Upon entering the bank she sees the vault door has been blown open, most of the money has been stolen, and a large amount of money was burned when the explosive charge went off. Luckily, the bank has a Commercial Crime policy. Which of the following best describes what would be covered under Inside the Premises: Theft of Money and Securities?

A. The stolen money and the destroyed money
B. The stolen money and the damage to the vault
C. The stolen money, the destroyed money, and the damage to the vault
D. The stolen money

Answer 1

The stolen money, the destroyed money, and the damage to the vault would be covered under Inside the Premises: Theft of Money and Securities.

Step-by-step explanation:

The answer to the question is C. The stolen money, the destroyed money, and the damage to the vault. Under the Inside the Premises: Theft of Money and Securities coverage of a Commercial Crime policy, not only the stolen money but also the money that was destroyed and the damage to the vault would be covered. This means that the policy would provide compensation for the amount of money that was stolen, the value of the burned money, and the cost to repair or replace the damaged vault.