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Flashcards in Dwelling Deck (55)
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1

Replacement cost coverage on contents on all dwelling policies

Can be added by endorsement

2

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

3

What best describes what is covered by Dwelling coverage A

Structure on the premise and anything attached to it

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?

Inflation Guard endorsement

5

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

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?

$0

7

A dwelling basic form does NOT provide coverage for

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

8

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

Damage to property caused by burglars

9

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

Insured's legal representative

10

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

Damage caused by vehicles

11

Coverage provided by a dwelling special form does NOT include

Cash

12

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

No

13

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.)

14

What is NOT an exclusion under the personal liability endorsement?

injuries caused by animals owned by the insured

15

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

Vandalism damage

16

Replacement cost coverage for dwellings is available under what forms?

Broad and special forms

17

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

False

18

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

True

19

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

False

20

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

21

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

Inflation guard

22

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

False

23

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

False

24

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

DP-2 and DP-3

25

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

False

26

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

True

27

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

DP-2 and DP-3

28

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

False

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?

20% of the coverage of the dwelling

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

$500 with no deductible