Under Securities Deposited with Others coverage, which property is protected?

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Prepare for the Florida Claims Adjuster (6-20) Test. Use flashcards and multiple choice questions, with hints and explanations for each question. Ace your exam!

Multiple Choice

Under Securities Deposited with Others coverage, which property is protected?

Explanation:
Securities Deposited with Others protects losses related to the financial instruments you’ve placed with a third party for safekeeping. It covers theft, disappearance, or destruction of those securities while they’re in the care of a custodian such as a bank or stockbroker. It does not cover cash in transit, damage to property, or liability for clients, which are outside this coverage and are handled by other parts of a policy. So this option is the best because it directly describes what is guarded under this specific protection: the securities deposited with a custodian.

Securities Deposited with Others protects losses related to the financial instruments you’ve placed with a third party for safekeeping. It covers theft, disappearance, or destruction of those securities while they’re in the care of a custodian such as a bank or stockbroker. It does not cover cash in transit, damage to property, or liability for clients, which are outside this coverage and are handled by other parts of a policy. So this option is the best because it directly describes what is guarded under this specific protection: the securities deposited with a custodian.

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