Definitions Flashcards
1
Q
The person designated on the declaration page of a policy
A
Named insured
2
Q
Under a homeowners policy, a full time student living away at college is insured if under the age of ____
A
24
3
Q
An employee of an insured, whose duties are related to the maintenance of the residence premises
A
Residence employee
4
Q
The standard homeowners policy deductible is ____
A
$250
5
Q
As the deductible increases, the policy premium ____
A
Decreases
6
Q
A form of cost-sharing in the event of a loss
A
Deductible
7
Q
True or False
An insured may choose to have a higher or lower deductible
A
True
