Chapter 9

Question 1

Homeowner Forms

Answer 1

Cover single and multiple family (usually up to 3) families in a principal dwelling. Owned duplexes and triplexes
Condos and mobile homes use a different policy form.

Question 2

Forms

Answer 2

Follow Insurance Bureau of Canada model of advisory wordings.
Homeowners Comprehensive Form
Homeowners Broad Form
Homeowners Basic Form
Names differ by company, but all provide similar coverages apart from some perils. Comp form provides best coverage, Basic provides the least. All include coverage on
Dwelling Building
Detached Private Structures
Personal Property
Additional Living Expenses

Question 3

Named Perils Includes

Answer 3

Fire (except friendly fire)
Lightning
Explosion (except water hammer)
Riot
Smoke (heating or cooking units but not fireplaces), Windstorm/Hail (except satellite/antennae and any floods/waves/melting snow. Personal property inside dwelling or structures covered if caused by opening due to wind)
Water (Sudden and accidental escape of water from an outside water main,interior plumbing, heating or air-conditioning, domestic water container. Unless insured is absent or has not planned for someone to check in for more than 4 days and has no shut the water off. Domestic water outside ex: hot tub damage as a result of freezing would not be covered but property damaged because of the water loss would. Also water that enters a building through a hole sequentally caused by another named peril
Electricity (power surge)
Theft (and damages to the property through attempted theft. Only applies to main residence, not any other properties or damage to rented portion. Does NOT apply to property or material to dwellings under construction unless construction is complete and ready to move in. Does not apply to animals. Does not apply to voluntary parting of title)
Glass (unless under construction or vacant)
Transportation (covers loss of personal property while being transported except property inside a home or recreational trailer and excludes watercraft and its equipment)
Impact by land vehicle or aircraft (unless that vehicle is driven by the insured or employee. Animals are excluded)
Vandalism (does not apply if theft was attempted, it was caused by the insured or happens while the building is vacant or under construction.
Falling Objects

Question 4

Personal Property Coverage

Answer 4

Covers uninsured property of others while in the portion of the premises occupied by the insured as long as not belonging to renters or the family of the insured.
Property away from the premises or in storage temporarily
Belonging to residence employees while travelling for the insured
Dependent students temporarily attending school

Question 5

Exclusions to Coverage C - Personal Property

Answer 5

excludes
-Motorized vehicles,campers trailers, aircraft or their equipment
***watercraft, electric golf caddies, lawn mowers/snow blowers, electric bikes/scooters WILL be covered but some have maximum limits which will apply or limits unless caused by a specified peril. Watercraft, furnishings and equipment are only insured for specific perils and theft

Question 6

Exclusions to coverage on Homeowners Policy

Answer 6

• Buildings or structures for business or farming purposes
  -Property at fairground or exhibitions
  -property illegally acquired or stored
  -Debt or Title
  -Sporting Equipment
  -Data (misrepresentation of information)
  -Dwelling
  -Lawfully seized property

Question 6

Additional Exclusions

Answer 6

Animals unless due to a specified peril
Outdoor radio/satellite
Normal wear and tear or defect
Damage caused by settling
Water main damage by sudden accident
Freezing of plumbing, heating or air conditioning in an unheated area
Sewer backup
Damage by birds or vermin except glass
Rust/wet rot/spores
ETC