14 - Insurance (2 / 1) Flashcards
1
Q
Basic Homeowners Insurance Policy covers…
A
Fire
2
Q
To obtain HO insurance…
A
insured must have an insurable interest in the property
3
Q
Package Policy
A
HO policy which provides both casualty and liability coverage
4
Q
Most poular type of HO insurance
A
HO-3
5
Q
CLUE report
A
provides information regarding claims history of property for last 7 years
6
Q
Minimum value of property required to be insured
A
80%
