What must an insured do to cover new auto acquisitions under the Business Auto Policy Symbol # 7?

To cover new auto acquisitions under the Business Auto Policy Symbol # 7, the insured must report the new vehicles to the insurer within 30 days of acquisition. This requirement is in place to ensure that the policy adequately reflects the current assets and provides coverage for any newly acquired vehicles without a gap in protection. This reporting helps the insurer adjust the coverage limits and ensure that the insured is compliant with the terms of the policy.

While options such as taking a physical inventory or providing proof of purchase might seem relevant in some contexts, they are not specifically required under the Business Auto Policy for the coverage of new vehicles. Similarly, purchasing additional coverage might be an acceptable step based on individual circumstances, but it's not a stipulated requirement to obtain coverage for newly acquired autos under this specific symbol. Timely reporting is key in this context to ensure continuous coverage.