7 - Other Coverages & Options

Question 1

How do you write insurance for a mobile home?

Answer 1

Add endorsements to either the HO-2 or HO-3 policy forms.

Question 2

ISO mobile home rules?

Answer 2

Designed for year round living
10ft wife with at least 400sqft
Owner occupied

HO-4 can be written for a tenant renting a mobile home.

Question 3

Personal Umbrella Policy

Answer 3

Gives high limits of liability and very broad coverage for a very reasonable premium charge

Question 4

Self insured retention

Answer 4

Like a deductible and is often as high as $1,000

Question 5

Federal Insurance Administration (FIA)

Answer 5

Sets rates, coverage limits and eligibility requirements

Question 6

Department of Housing and Urban Development (HUD)

Answer 6

Sets program standards.

Question 7

Watercraft Policy

Answer 7

Watercraft, outboard motors and watercraft trailers that are owned by individuals/spouses who live in the home.

Question 8

Personal Watercraft

Answer 8

A recreational watercraft powered by an inboard motor (water jet pump) that can carry 1+ persons sitting standing or kneeling

Question 9

Lay Up Period

Answer 9

Period of time specified by the insured that the watercraft will be out of the water for repairs

Question 10

Watercraft Custom Policy Territory

Answer 10

On land, in inland waters, costal waters within 12 miles of the shoreline, Great Lakes, within US/Puerto Rico/Canada

Question 11

Open Pilot

Answer 11

Extends coverage to a pilot who is not named insured on the policy who meets the total hours, time in type and training requirements

Question 12

3 Levels of Hull Damage Coverage

Answer 12

Ground only - on ground, not moving

Ground Including Taxi - on ground, not in motion plus taxi risks (hitting parked plane)

All risk ground & flight - covers both above plus while in flight