Miscellaneous Policies Flashcards
MH(C)
“like a car” moves more frequently
MH(F)
“fixed” staying there
MH coverage includes FLOOD
MH coverage includes FLOOD
COMPREHENSIVE PERSONAL LIABILITY (CPL)
provides protection for an insured and his or her family members against liability exposures of bodily injury or property damage caused by risks such as
pets, bicycles, children, participation in sports activity, operating some watercraft and other non-business activities.
defines a flood as
1
2
3
___ or more acres of normally dry land area
Emergency Flood v Regular Flood
Emergency: 35-100k
Regular: 250-500
One exception to the 30-day rule is if a mortgage requires flood insurance.
One exception to the 30-day rule is if a mortgage requires flood insurance.
Flood: 30 day waiting period
Flood: 30 day waiting period
FLOOD
Standard Risk
higher risk properties
covers: structure, furnace, water heater and air conditioner damage,
flood debris clean-up and floor surface damage such as to carpeting and tile
FLOOD
Preferred Risk
moderate to low risk
FLOOD
Preferred Risk
DISQUALIFIERS
(2) flood insurance claim payments, each more than $1,000;
(3) or more flood insurance claim payments, regardless of amount;
(2) federal flood disaster relief payments, each more than $1,000;
(3) federal flood disaster relief payments (including loans and grants), regardless of amount;
(1) flood insurance claim payment and one (1) federal flood disaster relief payment (including loans and grants), each more than $1,000.
Standard deductible for a FLOOD insurance policy
$500 for each building
$500 for the contents
Replacement for FLOOD
Coverage is 80%
FLOOD removal
45 days
Property Excluded
FLOOD
a. Money;
b. Lawns, trees, shrubs, plants, growing crops and livestock;
c. Fences, retaining walls, outdoor swimming pools, bridges and docks;
d. Buildings that are in, on or over water;
e. Underground structures such as wells and septic tanks.
