Home Owners Flashcards
How many dwellings? ___ - ___
1-4
Per _____ basis
occurrence
accident
loss
occurrence
Deductible?? 250 or 500 or 1000
250
“You” and “your” refer to the named insured shown in the Declarations and the spouse if a resident of the same house hold.
Insured and spouse if in the same house
Insured means any of the following:
a. The named insured and spouse
b. Any resident relative of the named insured
c. Students enrolled in school
full-time which
residents of the named insured’s household
under the age of twenty-four (24);
d. Any person under the age of twenty-one (21) living in the household
e. For liability purposes, coverage extends to any person employed by the insured
Insured location excludes
farmland
HO 2,3,5 are all the same except?
Perils
Part A Dwelling for 2,3,5
No minimum
Part B Other Structures for 2 3,5
10% of A
Part C Per Prop for 2,3,5
50% of A
Part D Loss of Use for 2,3 5
20% of A
Part E Liability for 2,3,5
100k min
Part F MedPay for 2,3,5
1k min
HO 4 refers to
Renters
HO 4 Categories
No cov for
PART A
PART B
Property
Ins selects (6k min)
Loss of Use
20% of C
Liability
100k min
MedPay
1k min
HO 6 (Condo) Categories
Dwelling
1k flat
Other Struc
No cov
Property
Ins selects (10k min)
Loss of Use
40% of C
Liability
100k min
MedPay
1k min
HO 8 Modified Categories
Dwelling
No min
Other Structures
10% of A
Property
50% of A
Loss of Use
10% of A
Liability
100k min
MedPay
1k min
HO 8 Modified meaning
Old house
Removal for Homeowners
Days?
30
Coverage B - Other Structures
garages, swimming pools, fences, driveways and walks, tool sheds, guesthouses, gazebos, and playground equipment.
Personal Property
Property of Others in the care, custody and control of the insured is also covered
anywhere in the world
A dwelling under construction is not considered vacant;
A dwelling under construction is not considered vacant;
HO - 3
_____ _____Value (__ __V) basis.
Actual Cash Value
HO - 5
_____ ____(__ __) basis.
Replacement Cost
EXCLUDED PERILS
Homeowners
- Ordinance or Law
- Earth Movement
- Water Damage
- Power Failure
- Neglect
- War
- Nuclear Hazard
- Intentional Loss
- Governmental Action
Duties after a Los
(a) Report the losses;
(b) Make a reasonable effort to protect the property from further damage;
(c) Make reasonable and necessary repairs and keep record of expenses;
(d) Obtain police reports for theft or burglary losses;
(e) Prepare inventories;
(f) Display damaged property;
(g) Submit to an examination under oath;
(h) Send a proof of loss within sixty (60) days after the insurer’s request.
Loss will be payable (__) days after the insurer receives the proof of loss and an agreement is reached
60
Max $$$ loss
200
ho-4 IS referred to as:
a. Contents Form
b. Modified Form
c. Unit Owner’s Form
d. Special Form
consents
The policy will pay up to _____ for the insured’s appliances, carpet, and other furnishings in each apartment on the residence premises regularly held for rental.
a. $1,000
b. $5,000
c. $10,000
d. $2,500
2,5k
