Flood/Personal Watercraft

Question 1

Commercial and personal property policies exclude

Answer 1

Flood Insurance

Question 2

NFIP

Answer 2

National Flood Insurance Program

Question 3

NFIP has an applocation waiting period of

Answer 3

30 days

Question 4

NFI can only be written for

Answer 4

Participating (eligible) Communities

Question 5

When the community meets NFIP requirements and participation, it qualifies for the

Answer 5

Emergency Program

Question 6

Temporary, partial or complete inundation of normally dry land by any one of the following:

1. overflow of inland or tidal waves
2. rapid accumulation or runoff of surface waters
3. mudflows
4. Collapse of shore along body of water if sudden erosion by waves.

Answer 6

Flood

Question 7

Areas highly susceptible to flooding.

Answer 7

Special Flood Hazard Areas (SFHA)

Question 8

SFHA two basic categories

Answer 8

A zones, V zones

Question 9

Generally inland areas near lakes and rivers

Answer 9

A zones

Question 10

Generally coastal areas

Answer 10

V zones

Question 11

A document showing the elevation of the property to be insured.

Answer 11

Elevation Certificate

Question 12

Fair Access to Insurance Requirements

Answer 12

FAIR Plan

Question 13

Any real or personal property at a fixed location in NC is eligible for the FAIR plan except

Answer 13

vacant property

Question 14

Many insurers have two forms available to provide personal watercraft coverage

Answer 14

the Pleasure Boat Policy and the Personal Yacht Policy.

Question 15

smaller motor boats and sailboats

Answer 15

Pleasure Boat Policy

Question 16

Big sailboats and yachts

Answer 16

Personal Yacht Policy

Question 17

Pleasure Boat Policy is written on an

Answer 17

Inland Marine Form

Question 18

Personal Yacht Policy is written on an

Answer 18

Ocean Marine Form

Question 19

A per-loss deductible for personal watercraft insurance applies to

Answer 19

Physical Damage (Hull Coverage)