Home Owners

Question 1

How many dwellings? ___ - ___

Answer 1

1-4

Question 2

Per _____ basis

occurrence
accident
loss

Answer 2

occurrence

Question 3

Deductible?? 250 or 500 or 1000

Answer 3

250

Question 4

“You” and “your” refer to the named insured shown in the Declarations and the spouse if a resident of the same house hold.

Answer 4

Insured and spouse if in the same house

Question 5

Insured means any of the following:

Answer 5

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

Question 6

Insured location excludes

Answer 6

farmland

Question 7

HO 2,3,5 are all the same except?

Answer 7

Perils

Question 8

Part A Dwelling for 2,3,5

Answer 8

No minimum

Question 9

Part B Other Structures for 2 3,5

Answer 9

10% of A

Question 10

Part C Per Prop for 2,3,5

Answer 10

50% of A

Question 11

Part D Loss of Use for 2,3 5

Answer 11

20% of A

Question 12

Part E Liability for 2,3,5

Answer 12

100k min

Question 13

Part F MedPay for 2,3,5

Answer 13

1k min

Question 14

HO 4 refers to

Answer 14

Renters

Question 15

HO 4 Categories

Answer 15

No cov for
PART A
PART B

Property
Ins selects (6k min)

Loss of Use
20% of C

Liability
100k min

MedPay
1k min

Question 16

HO 6 (Condo) Categories

Answer 16

Dwelling
1k flat

Other Struc
No cov

Property
Ins selects (10k min)

Loss of Use
40% of C

Liability
100k min

MedPay
1k min

Question 17

HO 8 Modified Categories

Answer 17

Dwelling
No min

Other Structures
10% of A

Property
50% of A

Loss of Use
10% of A

Liability
100k min

MedPay
1k min

Question 18

HO 8 Modified meaning

Answer 18

Old house

Question 19

Removal for Homeowners
Days?

Answer 19

30

Question 20

Coverage B - Other Structures

Answer 20

garages, swimming pools, fences, driveways and walks, tool sheds, guesthouses, gazebos, and playground equipment.

Question 21

Personal Property

Answer 21

Property of Others in the care, custody and control of the insured is also covered

anywhere in the world

Question 22

A dwelling under construction is not considered vacant;

Answer 22

A dwelling under construction is not considered vacant;

Question 23

HO - 3
_____ _____Value (__ __V) basis.

Answer 23

Actual Cash Value

Question 24

HO - 5
_____ ____(__ __) basis.

Answer 24

Replacement Cost

Question 25

EXCLUDED PERILS
Homeowners

Answer 25

1. Ordinance or Law
2. Earth Movement
3. Water Damage
4. Power Failure
5. Neglect
6. War
7. Nuclear Hazard
8. Intentional Loss
9. Governmental Action

Question 26

Duties after a Los

Answer 26

(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.

Question 27

Loss will be payable (__) days after the insurer receives the proof of loss and an agreement is reached

Answer 27

60

Question 28

Max $$$ loss

Answer 28

200

Question 29

ho-4 IS referred to as:

a. Contents Form
b. Modified Form
c. Unit Owner’s Form
d. Special Form

Answer 29

consents

Question 30

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

Answer 30

2,5k