Mobile Homeowners Form Flashcards
what is a mobile home?
defined as a dwelling including appliances, furniture and equipment that forms a permanent of the building, permanently attached carports or garages, awnings, skirtings, porches and tie down equipment.
mobile homeowners form is a ________ policy
package
what is different about replacement costs on mobile home policies?
THERE IS NONE. ACV ONLY in case of total loss. will not rebuild a new one since depreciation of mobile homes is accelerated
what type of coverage does the mobile home itself have?
NAMED PERILS ONLY
which coverages on a homeowners form differ on a mobile homeowners form
A and C
why can the limit for Coverage C be lower on a mobile home policy than that of a homeowners policy?
because this section does not cover attached furniture, appliances, or equipment.
-items with specified limits are the same but the actual limits may be lower as well
what is the emergency removal expense
the insured may apply up to 5% of the limit of insurance for coverage A for reasonable expenses to remove the building to protect it from loss or damage by an insured peril.
-no deductible is applied to this
-does not increase limit of insurance for coverage A
what is an exclusion specific to the mobile homeowners form?
-losses arising when moving the mobile home
-this would be covered by liability policy of trucking company
what types of coverage are on mobile homeowners forms? (of A B C D)
A B C D
what types of coverage are on seasonal homes? of ABCD
A B C D
what types of coverage are needed on rental property?
- coverage A (dwelling itself)
-Coverage B (private structures) - need coverage C, but less than a homeowner (because just covering your appliances, tenant will have own policy for their contents)
-need coverage D ( for fair rental value) - need coverage E (liability)
