Dwelling Insurance

Question 1

Property Coverages

Answer 1

Coverage A - Dwelling; structures attached to the dwelling
Coverage B - Other structures; detached from the main dwelling
Coverage C - Insured’s personal property that is at the dwelling
Coverage D - Fair rental value, covers the insured in the event a covered loss makes the rental portion of a property unfit for normal use
Coverage E - additional living expenses

Question 2

DP-1 Basic Form Coverages

Answer 2

Fire
Lightning
Internal Explosion
Other structures
Debris removal
Property removed – This is covered for 5 days.
Reasonable repairs
Improvements, alterations, and additions
Fire department service charge $500
Worldwide coverage
Rental value

Question 3

DP-2 Broad Form Coverages

Answer 3

Includes all the coverages in DP-1
WCSHAVVER
V&MM
BIG AFFECT
Trees, shrubs, and plants – pays up to 5% of Coverage A; max of $500 each
Collapse – pays for the collapse of the dwelling caused by a specified list of perils. To be considered a collapse, the loss must involve the building or part of abruptly falling down or caving in. If the insured knew about the damage to the structure prior to the collapse they are NOT covered
Glass or safety glazing material – pays for the breakage of glass or safety glazing material and damage to covered property caused by glass breakage
Ordinance or law – coverage allows payment of up to 10% of the Coverage A limit of liability
Property removed – in DP-2 and DP-3 this is covered for 30 days. In DP-1 it is 5 days

Question 4

DP-3 Special Form Exclusions

Answer 4

Intentional damage
Theft
Freezing of plumbing (if unoccupied and care not taken)
Wear and tear
Foundation

Question 5

Coverage L

Answer 5

personal liability provides coverage for damages that the insured becomes legally obligated to pay because of an occurrence to which the coverage applies that causes bodily injury or property damage on and off premises. The policy minimum limit is $100,000

Question 6

Coverage M

Answer 6

medical payments to others, the insurer will pay all necessary medical expenses incurred w/in 3 years of an accident that causes bodily injury. There is a minimum limit of $1000 per person under this coverage.

Question 7

Additional Coverages - BAILED

Answer 7

B - Bonds
A - Aid (first aid)
I - Intereset
L - Loss of Earnings
E - Expenses
D - Defense Costs

Question 8

Coverage M applies to injuries sustained while the injured party is:

Answer 8

This coverage applies to injuries sustained while the injured party is:
- On the insured location w the insured’s permission
- Off the insured location if the injury arises out of a condition on the insured location, caused by the activities of the insured, or caused by an animal in the insured’s care

Question 9

Coverage A -

Answer 9

Dwelling; structures attached to the dwelling

Question 10

Coverage B -

Answer 10

Other structures; detached from the main dwelling

Question 11

Coverage C -

Answer 11

Insured’s personal property that is at the dwelling

Question 12

Coverage D -

Answer 12

Fair rental value, covers the insured in the event a covered loss makes the rental portion of a property unfit for normal use

Question 13

Coverage E -

Answer 13

additional living expenses