Flashcards in Dwelling Deck (55)
Replacement cost coverage on contents on all dwelling policies
Can be added by endorsement
Under the provisions and conditions of a dwelling fire policy, and insurance company could suspend coverage if the insured were to
Leave the house vacant from January 1 to April 15
What best describes what is covered by Dwelling coverage A
Structure on the premise and anything attached to it
Susan purchases the required 80% of replacement cost coverage on her dwelling. However 10 mos. later, she has a small fire claim and is subject to the co-insurance penalty for not insuring the dwelling for the correct amount. What optional coverage should she have purchased?
Inflation Guard endorsement
Jim has a dwelling under construction endorsement on his dwelling policy for the dwelling he is building. The endorsement requires him to
insure the structure for 100% of its completed value from inception
Marcy owns a detached garage valued at $2000. He rents it for $500 a month to a friend who uses the building as a furniture refinishing business. A fire causes a $1500 loss to the garage. How much will the insurance pay for the damages caused?
A dwelling basic form does NOT provide coverage for
Loss of rental value of an un-rented apartment, if held for rental
A dwelling building and personal property broad form protects an insured against what loss?
Damage to property caused by burglars
A dwelling property special form insures what if the named insured dies during the policy period?
Insured's legal representative
What is covered by the DP-1 WITHOUT the necessity of adding and endorsement?
Damage caused by vehicles
Coverage provided by a dwelling special form does NOT include
Are medical payments to others included on a personal liability endorsement?
According to the personal liability endorsement, what people are not insured?
Any business entity that has custody or control of an animal owned by an insured ( Kennel, vet, etc.)
What is NOT an exclusion under the personal liability endorsement?
injuries caused by animals owned by the insured
What must be added by endorsement on the DP-1?
Replacement cost coverage for dwellings is available under what forms?
Broad and special forms
T or F Broad theft coverage endorsement automatically covers the property of roomers or boarders?
T or F In broad theft coverage, the insured is required to notify the police if a theft loss occurs.
T or F Broad theft coverage endorsement covers the property of the insureds non-relative, expense sharing roommate?
An owner occupant of a dwelling insured by a dwelling policy is eligible for what type of personal theft coverage?
Either limited or broad theft
The automatic increase in insurance endorsement to the dwelling program is sometimes referred to as?
T or F The insured chooses the percentage by which amount limits will be increased in an inflation guard endorsement?
T or F Trees, plants, shrubs and lawns are covered under a DP-1?
Under what dwelling form can the insured collect for the replacement cost when the dwelling is destroyed?
DP-2 and DP-3
T or F Trees, shrubs and other plants are included on all dwelling forms?
T or F Personal liability and medical payments to others would pay for medical payments to guest injured on your property?
Damage to covered property caused by glass breakage is covered on what forms?
DP-2 and DP-3
T or F Weight of ice and snow are covered under the dwelling basic form?
A dwelling is insured for $60,000 and its contents for $30,000. According to the DP-1, what part of the insurance may the insured have applied to rental value coverage?
20% of the coverage of the dwelling