Homeowners Policy Flashcards
1
Q
HO-2 Definition
A
Broad Form
Named Peril
1-4 Unit Owner Occupied
2
Q
HO-3 Definition
A
Special Form
Open Peril & Named
1-4 Unit Owner Occupied
3
Q
HO-4 Definition
A
Renters/Tenants Form
Named Peril
Occupied by Tenant
4
Q
HO-5 Definition
A
Comprehensive Form
Open Peril
1-4 Unit Owner Occupied
5
Q
HO-6
A
Condominium Form
Named Peril
Condominium Unit Owner Occupied
6
Q
HO-8 Definitions
A
Modified Form
Named Peril
1-4 Unit Owner Occupied, Historic or Older Home
7
Q
HO-2,3,5
Cost Basis
A
Building coverage on replacement cost basis if insured for 80% or more
8
Q
HO-8 cost basis
A
Actual Cash Value
9
Q
HO-2 Exclusions
A
Excludes:
Interior damage from precipitation
Fences driveways from vehicle damage
10
Q
HO-3 Exclusions
A
Excludes: Freezing while vacant/unoccupied Theft Vandalism preventable losses
11
Q
HO-4 Coverages
A
Broad
Tenant personal property
12
Q
HO-5 Coverages
A
Covers personal property
Landlord furnishings 2,500 limit
