Homeowners property coverage

Question 1

Coverage A(Dwelling)

Answer 1

property covered: dwelling, attached structures, materials used on dwelling, servicing materials for dwellings,

Question 2

Coverage B (other structures)

Answer 2

a percentage of policy will be applied to detached property. For detached property. You get coverage a +B. can’t be used for business reasons

Question 3

Coverage C (Personal Property)

Answer 3

personal property 50% of coverage a and if kept at house it will get full amount if it is not always at house it will get 10% of a or $1000

Question 4

Special limit

Answer 4

is for personal property being stolen there is a cap that will be indemnified

Question 5

What are coverage c exclusions

Answer 5

pets, cars, aircraft, property of renters, personal property being rented out, credit cards, water or steam system and mysterious dissapearence

Question 6

Coverage D ( loss of use)

Answer 6

indirect losses like additional living expenses, prohibited use, and fair rental value

Question 7

Civil authority coverage

Answer 7

will be paid for loss of use if ur by government entities to not go near property for saftiness the liability limit is time

Question 8

Additional homeowner coverages

Answer 8

debris removal, reasonable repairs, tree, shrubs, fire depermant service charge, loss assessment, collapse, property removal, credit card fraud, ordnance or law, landlords furnishings, building additions and alterations, grave markers

Question 9

exclusions of HO policies

Answer 9

ordinance or law, earth movement, water damage, off premise power failure, neglect, war, nuclear hazard, intentional acts, mechanical breakdowns

Question 10

insurance to value

Answer 10

if overinsured it will be by replacement cost if underinsured it will be most expensive acv, percentage of replacement cost to percentage of paid coverage which is insurance limit/ 80%prop value X covered damage