Chapter 5 - Homeowners Policy Flashcards
Under an unendorsed Homeowners policy, jewelry is covered up to what amount?
up to $1,500 for loss by theft
The Refrigerated Property Coverage Endorsement will provide how much coverage for property stored in refrigerators or freezers on the residence premises?
$500
The Personal Articles Floater is written only on ______ _______
moveable property - The Personal Articles Floater is typically used to provide rare or high-value items higher levels of coverage than are offered by standard policies.
the broadest coverage available for S’s new home, including open perils coverage for personal property.
The Comprehensive Form (HO-5)
The limit on money is
$200
A ____ or hobby aircraft is covered unless it is designed to carry people or cargo
model
T is a tutor with a teaching service. T wants expanded liability coverage for their involvement in the business, which T has no financial control over. Which Homeowners endorsement would T’s agent recommend?
Business Pursuits
Y uses a detached garage as a studio for an incidental business. If Y wants expanded coverage for the structure, personal property, and liability arising out of the business, which Homeowners endorsement would Y’s agent recommend?
Permitted Incidental Occupancies
C’s debit card is stolen, and $1,000 is subsequently stolen from their account. How much will C’s HO-3 policy pay for the loss?
$500
Section I of a Homeowners policy does NOT include which of the following coverages?
Liability
The limit of liability for medical payments to others under an HO-3 is written on what basis?
per person
The Scheduled Personal Property Endorsement on a Homeowners Policy provides which of the following coverages to described property? ____ perils
open
Section II coverages are not subject to a _______
deductible.
