PC Chapter 7

Question 1

Yacht Policy

Answer 1

covers private watercraft that exceed the coverage limit of a boat owners policy

Question 2

Watercraft

Answer 2

Normally applies to private usage canoes, rowboats, sailboats, and motor boats, which can be insured under a homeowners, boat owners or a yacht policy

Question 3

Flood Insurance

Answer 3

Insurance available to cover floods. since floods are excluded by most property policies covering real property, flood insurance can be purchased through the national flood insurance program (NFIP). although sold by insurance companies flood insurance is actually underwritten by the federal government

Question 4

Flood

Answer 4

the covering of normally dry land with water that overflows its banks. also would inclued erosion of shorelines, the unusual accumulation of surface water and mudflows. does not include sewer back up or wind blown rain

Question 5

Yacht Policy

Answer 5

covers private watercraft that exceed the coverage limit of a boat owners policy

Question 6

Watercraft

Answer 6

Normally applies to private usage canoes, rowboats, sailboats, and motor boats, which can be insured under a homeowners, boat owners or a yacht policy

Question 7

Flood Insurance

Answer 7

Insurance available to cover floods. since floods are excluded by most property policies covering real property, flood insurance can be purchased through the national flood insurance program (NFIP). although sold by insurance companies flood insurance is actually underwritten by the federal government

Question 8

Flood

Answer 8

the covering of normally dry land with water that overflows its banks. also would inclued erosion of shorelines, the unusual accumulation of surface water and mudflows. does not include sewer back up or wind blown rain