Idaho Statutes, Rules & Regulations pertinent to Property Insurance Flashcards
The standard fire policy would provide basic coverage for what incident?
Fire
An insured must get how much written notice prior to cancellation of a fire policy in Idaho?
30 Days
True or False: Manuscripts or bullion is excluded from coverage under a standard fire policy.
False - May be covered if specifically named in writing in the policy.
Removal coverage under a standard fire policy remains in effect for how long?
5 Days
Marine insurance risk does not include what?
Workers Compensation
Who would participate in a Write Your Own (WYO) flood insurance program?
Private Insurers
How long is a waiting period upon purchase of flood coverage through NFIP?
30 Days
The New York Standard Fire Policy is classified as standard for what reason?
The policy conditions are identical in every state?
True or False: Marine insurance is not subject to establishment of and reporting of rates to the director?
True
The standard fire policy specifically excludes losses which occur when a building is vacant or unoccupied for how many days?
60 Days
What amount is figured by subtracting depreciation from the replacement cost of a covered item?
ACV - Actual Cash Value
