Ace the 2026 RIBO Exam – Boost Your Insurance Broker Swagger!

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All Perils coverage does not cover loss or damage in which situation?

If a person who lives in the insured's household steals the vehicle.

When an employee of the insured, whose duties include driving the auto, steals it outside of working hours.

When the insured sells the auto to a stranger whose cheque bounces and then the insured reports it as stolen.

All Perils coverage does not cover loss or damage when the insured sells the auto to a stranger whose cheque bounces and then reports it as stolen. This is because the insured would have knowingly sold the vehicle to someone else and falsely reported it as stolen, making it a fraudulent claim. Options A and B also involve fraudulent activity, while Option D is covered under collision and upset coverage which is separate from All Perils coverage.

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Caused by collision or upset of the vehicle.

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