Dwelling Policy

Question 1

What is a peril that is covered under both the basic and broad form of dwelling policies?

Answer 1

Internal explosions

Question 2

On a DP-3 dwelling property special form policy the coverage provided for personal property is the same as what other form?

Answer 2

DP-2 Broad Form

Question 3

Which coverage class would provide coverage for loss of income when an insured rental dwelling is rendered uninhabitable because of a covered loss?

Answer 3

Coverage D

Question 4

The removal coverage that is included in the broad form dwelling policy will cover property removed from the premises to protect it from damage for how long?

Answer 4

30 Days

Question 5

Under the dwelling policy if an insurer chooses to replace damaged or lost property, it must inform the insured within how many days of receiving proof of loss?

Answer 5

30 Days

Question 6

Replacement cost coverage is provided in both the broad and special form dwelling policies when what happens?

Answer 6

The amount of insurance on the dwelling is at least 80% of its replacement cost at the time of loss.

Question 7

If an insurer makes a change to broaden coverage in a dwelling policy while it is in effect, when will the changes take effect?

Answer 7

Immediately

Question 8

True or False: Fire or Lightning is an exclusion that applies in all three types of Dwelling Policies.

Answer 8

False

Question 9

True or False: Loss or expense cause by the cancellation of a lease is covered.

Answer 9

False

Question 10

Which property coverage provides protection to contents damaged by fire?

Answer 10

Coverage C

Question 11

Which dwelling policy form primarily insure a structure on an ACV basis?

Answer 11

DP-1

Question 12

True or False: Breakage of glass is not included in the basic form dwelling policy.

Answer 12

True

Question 13

True or False: Exclusions apply to all three policy forms.

Answer 13

True

Question 14

A basic dwelling policy automatically provides coverage against fire, lightning, and:

Answer 14

Internal Explosions

Question 15

In a dwelling policy which coverage provides for additional living expenses incurred by an owner-occupancy in the event a covered peril makes the premises uninhabitable due to a covered loss?

Answer 15

Coverage E

Question 16

On a DP-3 Dwelling Property Special Form policy, the coverage provided for personal property is to what other Dwelling Property form?

Answer 16

The same as provided on the DP-2 Broad Form

Question 17

True or False: Internal explosion is a peril covered under both the basic and broad form of dwelling policies.

Answer 17

True

Question 18

Under the additional living expenses coverage, if a civil authority prohibits the insured from using the dwelling because of direct damage to a neighboring location from a peril covered in the insured’s policy, loss would be covered for how long?

Answer 18

2 Weeks

Question 19

True or False: A house that has 5 residential units would be eligible for coverage under the dwelling policy.

Answer 19

False

Question 20

How much is the premium for the dwelling under construction endorsement under the dwelling policy?

Answer 20

The average amount of insurance during construction.

Question 21

Within the first 60 Days of coverage under a dwelling policy, how much notice is required for the cancellation of a policy?

Answer 21

10 Days

Question 22

True or False: Damage from domestic animals is excluded under the special form dwelling policy.

Answer 22

True

Question 23

Which property coverage would provide protection to contents damaged by fire?

Answer 23

Coverage C

Question 24

What is the maximum number of roomers/boarders for properties insured under the dwelling policy?

Answer 24

5

Question 25

Under the dwelling policy form what is the maximum time limit during which multiple volcanic activities would be considered part of one occurrence?

Answer 25

72 Hours

Question 26

True or False: If the insured is owner-occupant of the dwelling, broad theft coverage can be added to a dwelling policy.

Answer 26

True

Question 27

True or False: After vacancy for more than 60 consecutive days, vandalism and malicious mischief (VMM) coverage is excluded under a dwelling policy.

Answer 27

True

Question 28

True or False: A house that has 5 residential units would be eligible for coverage under the dwelling policy.

Answer 28

False. Eligibility requires that the dwelling have not more than 4 family units.

Question 29

How many years after a loss may an insured bring a lawsuit against an insurer, according to the dwelling policy?

Answer 29

2-Years

Question 30

True or False: In a dwelling policy, personal liability coverage must be added as a supplement or written as a separate policy.

Answer 30

True - Unlike the homeowners policy, the dwelling policy does not include any coverage for personal liability.

Question 31

True or False: In dwelling coverage, the land on which the dwelling is located, is covered.

Answer 31

False

Question 32

True or False: Theft of personal property is included in both the broad and special form dwelling policy.

Answer 32

False - Theft of personal property can only be included by endorsement.