dwelling again

Question 1

Three types of dwelling policy forms?

Answer 1

basic, broad, special

BBS

Question 2

Basic Form is

Answer 2

DP1

Question 3

What are the four major coverages ABCD

Answer 3

A- Dwellings

B-Other structures

C-personal property

D- Fair Rental Proeprty

Question 4

What does Coverage A stand for and what does it cover?

Answer 4

covers the dwelling, structures attached to the dwelling, materials and supplies use in construction or repair of the dwelling or other structures at thelocation and building or outdoor equipment used to service the premises

Question 5

What does coverage B stand for and what does it cover?

Answer 5

other structures- insures buildings on the premises separated from the dwelling by a clear space or connected only by a fence, utility line, or similar connection

Cannot be used for commerical, manufacturing or farming purposes

Question 6

Coverage C stands for what and covers what?

Answer 6

Personal property

does not include money, coins, books of accounts credit cards, animals, aircraft, mother vehicles or boats other than rowboats or canoes

Question 7

Does coverage C protect canoes and rowboats?

Answer 7

Yes, but no other boats

Question 8

What is coverage D stand for?

Answer 8

Fair rental coverage

Question 9

Only perils insured against in the basic form?

Answer 9

FLI

Fire, lightning, internal explosion

Question 10

Name the seven EC- extended coverages available?

WEARVSV

Answer 10

windstorm, hail (only if the the power of the storm makes an opening, not if the window is left opened)

explosion

riot or civil commotion

aircraft

vehicles

Smoke

Volcanic Eruption

Question 11

When is smoke damage not covered?

Answer 11

Not from fireplaces or from agricultutural smudging or industrical operations

Question 12

Other structures can provide how much of coverage A?

Answer 12

10% of coverage A

Question 13

How much is worldwide coverage covered for?

Answer 13

10% of coverage C anywhere in the world

Question 14

What are the exclusions on the basic form?

Answer 14

losses resulting from ordinances or laws that require more elaborate or expensive reconstuction that was not used in the original strucutre

losses resulting from earth movement

water damage in general including flood, water backing up in the building, and water leaking or seeping from below the ground

losses due to power interrutption away from the insureds home

losses because the insured failure to protect property

losses resulting from war

losses caused by nuclear hazard

losses caused by the insured or by someone else at the insureds direction