Dwelling Policy

Question 1

What are the 3 coverage forms?

Answer 1

Basic
Broad
Special

Question 2

What coverages are included in Basic Form DP1

Answer 2

Coverage A: Dwelling
Coverage B: Other Structures
Coverage C: Personal Property
Coverage D: Fair Rental Value

Question 3

What are the perils that are insured under Basic Form DP1?

Answer 3

Fire
Lightning
Removal
Internal Explosion

Question 4

Under Basic Form DP1, what additional Coverage can be added?

Answer 4

Windstorm or Hail
Explosion
Volcanic Eruption
Riot or Civil Commotion
Aircraft or Vehicles not owned by resident
Smoke

Question 5

Under Basic Form DP1, if the insured gets extended coverage (EC), what else are they eligible for an additional premium?

Answer 5

Vandalism & Malicous Mischief (V&MM)

Question 6

What does V&M damage to property exclude?

Answer 6

Coverage for glass or theft of property

Question 7

How long does a property need to be vacant in order for V&MM, accidental discharge or overflow of water or steam, or burglary damage not be covered?

Answer 7

More than 60 days

Question 8

What form are losses covered on replacement cost basis if insured maintains coverage to at least 80% of the replacement cost?

Answer 8

Broad Form DP2

Question 9

What form expands the coverage of smoke to include smoke from a fireplace?

Answer 9

Broad Form DP2

Question 10

What form expanded vehicle coverage to cover damage to fences, driveways, & walks when the vehicle is driven by someone who is not a member of the household?

Answer 10

Broad Form DP2

Question 11

What form is considered an open peril form?

Answer 11

Speacial Form DP3

Question 12

___ all perils covered with replacement cost unless specifically excluded.

Answer 12

Open Peril Form

Question 13

What additional coverages are included in Broad & Special forms?

Answer 13

Lawns, trees, shrubs, & plants
Breakage of glass
Collapse

Question 14

What is the standard deduction for property coverage?

Answer 14

$250 per occurence

Question 15

What coverages are available for property?

Answer 15

A: Dwelling
B: Other Structures
C: Personal Property
D: Fair Rental Value
E: Additional Living Expense

Question 16

___includes a;; structures & outdoor equipment used to maintain premises used for construction, alteration, or repair.

Answer 16

A: Dwelling

Question 17

___ includes seperate structures at same location seperated by clear space like garage or connected by utility or fence (10% of coverage A is limit)

Answer 17

B: Other Structures

Question 18

___ property of insured family members & guests at location. (coverage may be limited)

Answer 18

C: Personal Property

Question 19

___ if property covered on A,B, & C, the policy will pay for lost rent

Answer 19

D: Fair Rental Value

Question 20

___ is only for DP2 & DP3 & pays for living expenses while dwelling is unfit/repaired. (Coverage limit may be 2 weeks.

Answer 20

E: Additional Living Expense

Question 21

___ dwelling endorsement that provides an annual increas in the Coverage A limit of a fixed percentage.

Answer 21

Automatic increaes in insurance

Question 22

What are the 2 endorsements for theft that may be added to any DP forms?

Answer 22

Broad theft coverage

Limited theft coverage

Question 23

___ is available only if the insured is an owner-occupant

Answer 23

Broad theft coverage

Question 24

What does Broad theft coverage include?

Answer 24

Theft
Attempted theft
V&MM as a result of a theft or attemtped theft

Question 25

The broad theft coverage, where does the property have to be in order to have coverage?

Answer 25

it’s available on & off premises

Question 26

What persons are covered under Broad theft coveage?

Answer 26

Named insured
Resident family members
Anyonw under 21 in the care of the insured.

Question 27

What type of coverage is available for non-owner occupants under Dwelling Endorsements?

Answer 27

Limited theft coverage

Question 28

Under Dwelling Endorsements, where is property required location in order to be covered?

Answer 28

on-premises only

Question 29

___ is available under dewilling endorsements if the owner can’t attach coverage to a homeowner’s policy.

Answer 29

Personal Liability

Question 30

___ covers a structure while it is under construction

Answer 30

Dwelling under construction

Question 31

Under dwelling endorsements, how is the limit of liability determined for dwelling under construction?

Answer 31

the completion date