Dwelling Policy Flashcards
What is a peril that is covered under both the basic and broad form of dwelling policies?
Internal explosions
On a DP-3 dwelling property special form policy the coverage provided for personal property is the same as what other form?
DP-2 Broad Form
Which coverage class would provide coverage for loss of income when an insured rental dwelling is rendered uninhabitable because of a covered loss?
Coverage D
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?
30 Days
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?
30 Days
Replacement cost coverage is provided in both the broad and special form dwelling policies when what happens?
The amount of insurance on the dwelling is at least 80% of its replacement cost at the time of loss.
If an insurer makes a change to broaden coverage in a dwelling policy while it is in effect, when will the changes take effect?
Immediately
True or False: Fire or Lightning is an exclusion that applies in all three types of Dwelling Policies.
False
True or False: Loss or expense cause by the cancellation of a lease is covered.
False
Which property coverage provides protection to contents damaged by fire?
Coverage C
Which dwelling policy form primarily insure a structure on an ACV basis?
DP-1
True or False: Breakage of glass is not included in the basic form dwelling policy.
True
True or False: Exclusions apply to all three policy forms.
True
A basic dwelling policy automatically provides coverage against fire, lightning, and:
Internal Explosions
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?
Coverage E
On a DP-3 Dwelling Property Special Form policy, the coverage provided for personal property is to what other Dwelling Property form?
The same as provided on the DP-2 Broad Form
True or False: Internal explosion is a peril covered under both the basic and broad form of dwelling policies.
True
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?
2 Weeks
True or False: A house that has 5 residential units would be eligible for coverage under the dwelling policy.
False
How much is the premium for the dwelling under construction endorsement under the dwelling policy?
The average amount of insurance during construction.
Within the first 60 Days of coverage under a dwelling policy, how much notice is required for the cancellation of a policy?
10 Days
True or False: Damage from domestic animals is excluded under the special form dwelling policy.
True
Which property coverage would provide protection to contents damaged by fire?
Coverage C
What is the maximum number of roomers/boarders for properties insured under the dwelling policy?
5
