Dwelling

Question 1

Replacement cost coverage on contents on all dwelling policies

Answer 1

Can be added by endorsement

Question 2

Under the provisions and conditions of a dwelling fire policy, and insurance company could suspend coverage if the insured were to

Answer 2

Leave the house vacant from January 1 to April 15

Question 3

What best describes what is covered by Dwelling coverage A

Answer 3

Structure on the premise and anything attached to it

Question 4

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?

Answer 4

Inflation Guard endorsement

Question 5

Jim has a dwelling under construction endorsement on his dwelling policy for the dwelling he is building. The endorsement requires him to

Answer 5

insure the structure for 100% of its completed value from inception

Question 6

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?

Answer 6

$0

Question 7

A dwelling basic form does NOT provide coverage for

Answer 7

Loss of rental value of an un-rented apartment, if held for rental

Question 8

A dwelling building and personal property broad form protects an insured against what loss?

Answer 8

Damage to property caused by burglars

Question 9

A dwelling property special form insures what if the named insured dies during the policy period?

Answer 9

Insured’s legal representative

Question 10

What is covered by the DP-1 WITHOUT the necessity of adding and endorsement?

Answer 10

Damage caused by vehicles

Question 11

Coverage provided by a dwelling special form does NOT include

Answer 11

Cash

Question 12

Are medical payments to others included on a personal liability endorsement?

Answer 12

No

Question 13

According to the personal liability endorsement, what people are not insured?

Answer 13

Any business entity that has custody or control of an animal owned by an insured ( Kennel, vet, etc.)

Question 14

What is NOT an exclusion under the personal liability endorsement?

Answer 14

injuries caused by animals owned by the insured

Question 15

What must be added by endorsement on the DP-1?

Answer 15

Vandalism damage

Question 16

Replacement cost coverage for dwellings is available under what forms?

Answer 16

Broad and special forms

Question 17

T or F Broad theft coverage endorsement automatically covers the property of roomers or boarders?

Answer 17

False

Question 18

T or F In broad theft coverage, the insured is required to notify the police if a theft loss occurs.

Answer 18

True

Question 19

T or F Broad theft coverage endorsement covers the property of the insureds non-relative, expense sharing roommate?

Answer 19

False

Question 20

An owner occupant of a dwelling insured by a dwelling policy is eligible for what type of personal theft coverage?

Answer 20

Either limited or broad theft

Question 21

The automatic increase in insurance endorsement to the dwelling program is sometimes referred to as?

Answer 21

Inflation guard

Question 22

T or F The insured chooses the percentage by which amount limits will be increased in an inflation guard endorsement?

Answer 22

False

Question 23

T or F Trees, plants, shrubs and lawns are covered under a DP-1?

Answer 23

False

Question 24

Under what dwelling form can the insured collect for the replacement cost when the dwelling is destroyed?

Answer 24

DP-2 and DP-3

Question 25

T or F Trees, shrubs and other plants are included on all dwelling forms?

Answer 25

False

Question 26

T or F Personal liability and medical payments to others would pay for medical payments to guest injured on your property?

Answer 26

True

Question 27

Damage to covered property caused by glass breakage is covered on what forms?

Answer 27

DP-2 and DP-3

Question 28

T or F Weight of ice and snow are covered under the dwelling basic form?

Answer 28

False

Question 29

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?

Answer 29

20% of the coverage of the dwelling

Question 30

A fire department service charge is payable when the fire dept. is called to save or protect property against a peril. The maximum payable amount is

Answer 30

$500 with no deductible

Question 31

T or F Theft is a covered peril on a DP-2 form

Answer 31

False

Question 32

T or F On a dwelling form, Coverage B-Other structures, a private garage rented to others is covered?

Answer 32

True

Question 33

T or F There is no coverage for vandalism if the dwelling has been vacant for more than 60 days

Answer 33

True

Question 34

An extension of coverage on a dwelling form may be used to provide worldwide personal property coverage for an amount up to ______ of the coverage C limit

Answer 34

10%

Question 35

T or F Two additional coverages provided by Broad and Special dwelling forms are building collapse and damage to lawns, trees and plants

Answer 35

True

Question 36

Which dwelling form covers theft of built-in fixtures?

Answer 36

Special

Question 37

On an all risk property policy, where would you look to determine if a loss is covered?

Answer 37

Exclusions

Question 38

When leaving a fully furnished house to go on an extended vacation, the house is considered what?

Answer 38

unoccupied

Question 39

T or F A grease fire in the kitchen is an example of a hostile fire

Answer 39

True

Question 40

T or F An auto service garage would qualify for a dwelling policy

Answer 40

False

Question 41

T or F A dwelling basic form is an all risk policy?

Answer 41

False

Question 42

T or F If a dwelling is covered by Coverage A, it would include all structures attached to the dwelling

Answer 42

True

Question 43

What coverage would include unattached structures and out buildings that are separate from the dwelling by a clear space

Answer 43

Coverage B - Other structures

Question 44

T or F If a loss occurs damaging the building, other structures, or contents it is considered an indirect loss

Answer 44

False

Question 45

T or F In a named peril policy, each peril to be covered is listed and named

Answer 45

True

Question 46

T or F An all risk policy covers all perils unless the peril is specifically excluded

Answer 46

True

Question 47

T or F Coverage C - Personal property is also known as contents insurance

Answer 47

True

Question 48

T or F Birds, animals and fish are included on the Coverage C - Personal property form

Answer 48

False

Question 49

T or F The DP-1 is called the basic form because it is a named peril form that covers the property listed for 11 named perils

Answer 49

True

Question 50

T or F Neglect, war, nuclear hazard, or intentional loss are included on all 3 dwelling forms

Answer 50

False

Question 51

T or F There is no coverage for vandalism unless it is purchased by endorsement

Answer 51

True

Question 52

T or F Vandalism or malicious mischief cost extra and is the first truly optional coverage available on a DP-1 policy

Answer 52

True

Question 53

T or F A DP-2 incorporates all coverage present in the DP-1 plus 4 additional perils

Answer 53

True

Question 54

T or F On a DP-1, all claims are settled on replacement cost value

Answer 54

False

Question 55

T or F ACV= actual cash value - depreciation

Answer 55

False