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With respect to auto insurance, the term owned autos includes all of the following EXCEPT
With respect to auto insurance, the term owned autos includes all of the following EXCEPT(Choose from the following options)
1. Any private passenger auto leased to the named insured for a period of more than 6 months.
2. A pickup or van titled to and used in the named insured's business.
3. Any private passenger auto titled to the named insured.
4. A pickup or van acquired by the named insured during the policy period.
Final answer:A pickup or van titled to and used in the named insured's business is usually covered under a commercial auto insurance policy and is not considered an 'owned auto' under personal auto insurance policies. The correct answer is option 2. A pickup or van titled to and used in the named insured's business.Explanation:With respect to auto insurance, the termowned autosincludes all of the following EXCEPT A pickup or van titled to and used in the named insured's business. The options presented can lead to the conclusion that:Any private passenger auto leased to the named insured for a period of more than 6 months is typically considered an owned auto.Any private passenger auto titled to the named insured is an owned auto by definition.A pickup or van acquired by the named insured during the policy period is also considered an owned auto.However, a pickup or van that is both titled to and used in the named insured's business is usually covered under a commercial rather than a personal auto insurance policy and thus would not be classified as an 'owned auto' under a personal auto insurance policy. It's important for individuals to understand the distinctions between personal and commercial auto insurance, especially when vehicles are used for business purposes....