Dwelling Policy- Property Coverages

Question 1

Coverage A

Answer 1

DWELLING-defines what is included for coverage as a dwelling and must be used primarily for residential or dwelling purposes.

Question 2

Property not covered under Coverage A

Answer 2

LAND

Question 3

Coverage B

Answer 3

OTHER STRUCTURES- covers other seperate structures at the same location. I.e. Detached garages, fences, or sheds

Question 4

Property NOT Covered under Coverage B

Answer 4

• Land
• Rented buildings
• Business buildings
• Grave markers

Question 5

Coverage C

Answer 5

PERSONAL PROPERTY- can be purchased to insure personal property common to a residence.

Question 6

Property NOT Covered under Coverage C

Answer 6

• Money
• Animals
• Aircraft & Watercraft
• Debit Cards
• Motor Vehicles

Question 7

Coverage D

Answer 7

FAIR RENTAL VALUE- applies if property under Coverage A, B, or C becomes destroyed or damaged by a peril covered in the policy.

Question 8

Coverage E

Answer 8

ADDITIONAL LIVING EXPENSES- only available if broad or special form dwelling coverage is written and pays for the increase in normal living expenses the policyowner sustains while the described premises are unfit for use.

Question 9

General Exclusions

Answer 9

Exclusions found in all 3 dwelling forms:

• Ordiance of Law
• Earth Movement
• Water Damage
• Power Failure
• Neglect
• War
• Nuclear Hazard
• Intentional Loss
• Governmental Action

Question 10

Two most commonly added optional dwelling policy endorsements

Answer 10

• Automatic Increase in Insurance

- Broad Theft Coverage

Question 11

**There is no off-premises coverage for property at a newly acquired primary residence

Question 12

Sinkhole Collapse

Answer 12

Sudden collapse or settlement of earth supporting the property resulting in an underground hole caused by water or limestone.