Homeowners Insurance

Question 1

What is Structure Coverage?

Answer 1

Reimburses policyholders for repairs needed for a building structure when it is damaged by certain perils

Question 2

Name the coverage: A fallen branch damages the roof during a snowstorm, the homeowners are entitled to receive funds from their insurer to fix the roof.

Answer 2

Structure Coverage

Question 3

What is Loss of Use Coverage?

Answer 3

Loss of use coverage provides funding for housing and food expenses of policyholders who temporarily cannot live in their home when it is damaged or destroyed by certain perils.

Question 4

What is Contents Coverage?

Answer 4

Contents coverage reimburses policyholders for personal property destroyed by certain perils. Depending on the policy, clothing, furniture, household items, musical instruments, laptops, and other items can be reimbursed.

Question 5

What is Medical Payments Coverage?

Answer 5

Medical payments coverage reimburses policyholders for a certain portion of the medical ills incurred when someone becomes injured on a policyholder’s property and chooses not to sue. In order for this policy to apply, the individual injures cannot be a resident of the insured home.

Question 6

What is Personal Liability Coverage?

Answer 6

Personal liability coverage provides funding for a defense lawyer or legal judgment if a policyholder is sued for a negligent act that led to an injury of a guest.

Question 7

What are Add-ons?

Answer 7

Add-ons are often referred to as “riders” and “endorsements”.

Question 8

What are the most common add-ons?

Answer 8

Flood and Earhquake Insurance
Business Merchandise Coverage
Incidental Business Liability