Dwelling Policy

Question 1

A person who lives with someone else for an agreed upon price, usually for a considerable amount of time is a _________________

Answer 1

Boarder

Question 2

The remains of anything broken down or destroyed is _________

Answer 2

Debris

Question 3

________________ occupancy is defined as minor uses that are accessory to or support the predominant occupancy (e.g., a piano teacher giving lessons in her home)

Answer 3

Incidental occupancy

Question 4

A law that must be complied with is an _________________

Answer 4

Ordinance

Question 5

When a property’s insurance coverage exceeds its cash value

Answer 5

Overinsurance

Question 6

A house or building (including land and outer buildings) utilized by a business

Answer 6

Premises

Question 7

Intentional destruction or damage to property is _______________

Answer 7

Vandalism

Question 8

ISO stands for ____________________

Answer 8

Insurance Services Office

Question 9

Basic form with named peril

Answer 9

DP1

Question 10

Broad form with named peril

Answer 10

DP2S

Question 11

Special form with open and named peril

Answer 11

DP3

Question 12

Dwelling form with most limited coverage but no minimum amount of insurance required. Extended coverage perils can be added for additional premium.

Answer 12

DP1

Question 13

Acronym to help remember extended coverage perils for DP1:
W____________________
H____________________
A____________________
R____________________
V____________________
E____________________
S____________________

Answer 13

Windstorm; Hail; Aircraft/vehicles; Riot/civil commotion; Volcanic eruption; Explosion; Smoke

Question 14

Acronym to help remember the broad form (DP2) coverage perils:
B ________________________
B ________________________
B ________________________
I ________________________
C ________________________
E ________________________
G ________________________
O ________________________
L ________________________
F ________________________

Answer 14

Bursting of heating systems; Burglary damage; Breaking of water heaters; Ice, snow, or sleet weight; Collapse of building or part of a building; Electrical damage (artificially generated):Glass breakage; Objects falling from outside; Leakage of water or steam damage; Freezing of plumbing

Question 15

Coverage A

Answer 15

Dwelling

Question 16

Coverage B

Answer 16

Other structures

Question 17

Coverage C

Answer 17

Personal Property

Question 18

Coverage D

Answer 18

Fair rental value

Question 19

Coverage E

Answer 19

Additional living expense

Question 20

Coverage B is calculated at ____% of coverage ____

Answer 20

10%; A

Question 21

Coverage D is calculated at ____% of coverage ____

Answer 21

20%; A

Question 22

Coverage E is calculated at ____% of coverage ____

Answer 22

20%; A

Question 23

Don’t forget to study the details of DP1, DP2, and DP3 policies