Homeowners Policies Flashcards
Medical payments coverage on a homeowners policy covers:
A. Trespassers
B residence employee in the course of employment
C. Child away at college
D. Injury to the insured
B.
A personal articles floater provides coverage on what basis? A. Stated amount B. Valued C. Actual cash value D. Replacement cost
Answer: C. Actual cash value
Each of the following is a coverage under section I of the homeowners forms EXCEPT: A. Dwelling B. Other structures C. Medical payments D. personal property
Answer: C. Medical payments
Coverage for trees, shrubs, and plants on an HO-3 is:
A. Unlimited
B. All risk
C. Includes windstorm
D. Limited to a max of &500 for any one tree, shrub or plant
Answer: D.
Property of all of the following are covered by an HO policy EXCEPT: A. Relatives residing with the insured B. Guests C. Children away at college D. Boarders
Answer: D. Boarders
An HO-3 ('00) policy covers:
A. Damage done by burglars
B. Animals, birds or fish
C. Water damage caused by sewer backup
D. Vandalism occurring after 60 days vacancyAnswer: A. Damage done by burglars
A special limit on an HO policy applies to: A. Money B. Cameras C. Stereos D. Antiques
Answer: A. Money
You have 5 identical glass plates, worth $10,000 each, but as a set they are worth $60,000. In the event that 1 of the plates is damaged, how much will the insurer pay? A. $20,000 B. $60,000 C. $50,000 D. $10,000
Answer: A. $20,000
Value of the full set : $60,000 minus value of the remaining plates: $40,000
Which of the following expenses would be covered under loss of use on an HO-4?
A. expenses involved due to cancellation of the insured’s lease
B. Costs of food
C. All rent at insured’s temporary location
D. Additional fuel costs due to the insured having to drive farther to work
Answer: D
Section II of an HO policy covers all of the following EXCEPT: A. Property Damage B. Bodily injury C. Personal injury D. Medical
Answer: C
All of the following are true regarding medical payments on an HO EXCEPT:
A. They are goodwill coverages
B. They do not require negligence in order for coverage to apply
C. They are subject to a deductible
D. They are to others, not the insured
Answer: C
On an all-risk HO-3 (00’), which of the following is fully covered?
A. Theft of your outboard motor from your boat at the marina
B. Dropping and breaking. Your $2,500 camera
C. Your canoe is stolen from your unattached garage
D. theft of your $2,500 Rolex
Answer: C
On an HO-3, which of the following is covered without special endorsement?
A. Damage done to the insured’s own property by his own dog
B. The land upon which the dwelling is situated
C. Jewelry, furs and firearms up to certain limits
D. Animal, birds or fish
Answer: C.
An HO-6 provides which type of coverage for contents? A. Named peril B. All-risk C. Replacement cost D. Valued
Answer: A. Named peril
Under an HO (‘00) policy, the Section II additional coverage for first aid will apply to:
A. Your children away at college
B. A friend helping you install a new carpet
C. Your parent living with you
D. A 16 year old foreign exchange student living with you
Answer: B.
Section II does not apply to the insured or members of his household.
A fire totally destroys your home. Your HO-3 (00') policy would cover all of the following EXCEPT: A. Your riding lawn mower in the garage B. Your antique furniture C. Your $2,500 Rolex D. Your motor vehicle in the garage
Answer: D.
All are true about medical coverage on an HO (‘00) policy EXCEPT:
A. It covers resident employees
B. It covers regular residents of your household
C. Is shown as coverage F on the declaration page
D. It covers expenses incurred within 3 years of the date of accident.
Answer: B.
Ben drives his uninsured auto into his own home, which is insured on an HO-2. Which of the following are true?
A. This is excluded by his homeowners policy
B. The damages caused to the home and the trees, shrubs, plants and lawns is covered by his HO policy
C. This would only be covered if the party that had run into the home did not live in the home
D. This is covered by his HO policy
Answer: D
Your client usually pays $1,200 a month to live in her dwelling. After a fire, she and her family have to stay in a hotel at a cost of $1,700 a month. Her HO policy's Coverage D, additional living expense, will pay how much of this? A. $1200 B. $1700 C. None D. $500
Answer: D
Personal articles floaters are purchased for all of these EXCEPT: A. Musical instruments B. Stamp collections C. Loose gem stones D. Jewelry
Answer: C.
On a mobile homeowners policy, Coverage D is how much? A. 10 % of A B. 5% of C C. 30% of C D. 30% of A
Answer: D.
On an HO-3 (;00), freezing of plumbing is:
A. Not covered if the building is unoccupied
B. Excluded
C. Covered if an optional endorsement is purchased
D. Covered if reasonable care was used to maintain the heat in the building
Answer: D.
An HO-3 policy provides which coverage for contents: A. Basic form B. Broad form C. Special form D. All-risk
Answer: B.
