Which covered auto symbol designates owned autos on the business auto policy?

Prepare for the Auto Insurance Exam with study tips, flashcards, and multiple-choice questions. Each question includes hints and explanations to ensure you're exam-ready!

Symbol 2 designates specifically owned autos on a business auto policy. This symbol refers to any vehicle owned by the business, providing coverage for those vehicles in various situations, such as when they are being used for business purposes or while operated by employees of the company.

Understanding the symbols in the business auto policy is crucial for ensuring appropriate coverage types for different vehicles. Symbol 1 refers to any auto, regardless of ownership, while Symbols 3 and 4 pertain to specific types of autos, such as private passenger autos or those not owned by the business but used in their operations. Therefore, Symbol 2 is distinct in that it strictly covers vehicles that are owned by the business, making it the correct identifier for that particular context.

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