Home Owner's

Question 1

HO-2

Answer 1

Broad Form

Question 2

HO-3

Answer 2

Special Form

Question 3

HO-4

Answer 3

Contents Broad Form

Question 4

HO-5

Answer 4

Comprehensive Form

Question 5

HO-6

Answer 5

Unit-Owners Form

Question 6

HO-8

Answer 6

Modified Coverage Form

Question 7

Section I

Answer 7

Property Coverage
A- Dwelling and attached. Primary limit is replacement value
B- Other structures. Up to 10% of dwelling
C- Personal property. Up to 50% of dwelling
D- Loss of Use. Up to 30% of dwelling.

Question 8

Section II

Answer 8

Liability
E- $100,000 (CSL) BI & PD
F- Medical payments to others. $1000, no fault

Question 9

Eligibility HO-2, 3, 5 ,8

Answer 9

Owner occupied dwelling with no more than 4 residential units; named insured must live in one of the units

Question 10

Eligibility HO4

Answer 10

Residence or apartment is rented, not owned

Question 11

Eligibility HO6

Answer 11

Condo or cooperative unit may be rented or owned

Question 12

HO-2 Broad Form Coverage

Answer 12

Coverage for dwelling (Coverage A), other structures (B) and personal property (C)

Question 13

16 Named Perils

Answer 13

Fire or lightning
Windstorm or hail
Explosion
Riot or civil commotion
Aircraft
Vehicles
Smoke
Volcanic eruption
Vandalism or malicious mischief
Theft (limited)
Falling objects
Weight of ice, snow, or sleet
Accidental discharge or overflow of water or steam
Sudden and accidental tearing apart, cracking, burning, or bulging of heating or air conditioning systems (HVAC)
Freezing
Sudden and accidental damage from artificially generated electrical current

Question 14

HO-3 Special Form Coverage

Answer 14

Coverage A & B are insured on open peril basis.

Question 15

HO-3 Special Form Exclusions

Answer 15

Collapse, except as provided by Additional Coverages
Freezing of household appliances or a plumbing, heating, air conditioning, or automatic fire protective system unless the insured has taken reasonable care to maintain heat in the building or shut off the water supply and drained the appliances and systems of water
Freezing, thawing, pressure or weight of water or ice on patios, fences, swimming pools, foundations, piers, docks, retaining wall
Theft in or to a dwelling under construction, including construction-related materials and supplies
Vandalism and malicious mischief, including ensuing loss, if the dwelling has been vacant for more than 60 consecutive days immediately before the loss
Mold, fungus, or wet rot unless resulting from accidental discharge or overflow of water or steam that is hidden from view
Wear and tear, marring, deterioration, mechanical breakdown, latent defect, inherent vice, smog, rust, corrosion, dry rot
Smoke from agricultural smudging or industrial operations
Pollution including discharge, dispersal, seepage, migration, or release of smoke, vapor, fumes, acids, or other chemicals unless such discharge is caused by a Coverage C Peril Insured Against
Settling, cracking, bulging, or expansion of foundation, walls, floors, pavements, patios
Birds, vermin, rodents or insects
Animals owned or kept by an insured

Question 16

HO-4 Contents Broad Form Coverage

Answer 16

Known as renter’s or tenant homeowners policy. No coverage for dwelling or other structures, only personal property under Coverage C against loss from 16 named perils. ACV basis.

Question 17

HO-5 Comprehensive Form Coverage

Answer 17

Broadest coverage. Coverage A B & C provide insurance on open perils basis.

Question 18

HO-6 Unit-Owners Form Coverage

Answer 18

Named perils coverage to the owner of a condo or coop unit under Coverage A & C. Coverage B does not appear in this form, if owner wishes to insure other structures, the value of other structures may be included in the Coverage A limit. Insures building and building items for which insured is responsible AND insures personal property of insured while anywhere in the world.

Question 19

HO-8 Modified Form Coverage & Exclusions

Answer 19

Typically ACV; often used to insure older homes when replacement and market values of the dwelling are disproportionate. Victorian home. 
Does not cover:
 Falling Objects
Weight of ice, sleet, or snow
Accidental water or steam
Accidental HVAC damage
Freezing
Sudden accidental damage from artificial electricity

Question 20

Coverage Chart - HO-2 Broad

Answer 20

Named - Dwelling - RCV

Named- Personal - ACV

Question 21

Coverage Chart HO-3 Special

Answer 21

Open - Dwelling - RCV

Named - Personal - ACV

Question 22

Coverage Chart HO-4 Contents Broad

Answer 22

Named - Personal - ACV

Question 23

Coverage Chart HO-5 Comprehensive

Answer 23

Open - Dwelling - RCV

Open - Personal - ACV

Question 24

Coverage Chart HO-6 Unit-Owners

Answer 24

Named - Personal - ACV

Question 25

Coverage Chart HO-8 Modified

Answer 25

Named - Dwelling - Repair Cost/ Market Value (whichever is less) Named - Personal - ACV

Question 26

What percent of coverage should be purchased?

Answer 26

80%

Question 27

What are the Additional Coverages?

Answer 27

``` Debris Removal Reasonable Repairs Trees, Shrubs and Plants Fire Dept Service Charge Property Removed Credit Cards, Electronic Fund Transfer Card, Forgery, Counterfeit Money Loss Assessment Collapse Glass/Safety Glazing Landlord's Furnishings Ordinance or Law Grave Markers ```

Question 28

Section I Exclusions

Answer 28

``` Ordinance or Law Earth Movement Water Damage Power Failure Neglect War Nuclear Hazard Intentional Loss Governmental Action ```

Question 29

Section I - Selected Property Endorsements

Answer 29

Mobile Home Insurance Other Structures on Residence Premises (Increased Limits) Water Back Up and Sump Discharge or Overflow Personal Property Replacement Cost Endorsement Scheduled Personal Property Endorsement Earthquake Endorsement Limited Fungi, Wet or Dry Rot, or Bacteria Coverage Permitted Incidental Occupancies Identity Theft Expense

Question 30

Section II Liability Coverage

Answer 30

Coverage E & F

Question 31

Coverage E

Answer 31

Personal Liability. Covers BI and PD per occurence. Pays up to policy limit. Basic limit of $100,000. Cost of defense does not reduce limit.

Question 32

Coverage F

Answer 32

Medical Payments to Others. Basic Limit of $1000 per occurence. No fault. Within 3 years. Off premises: actions of insured or resident employees; animals; resident employees are covered.

Question 33

Home Day Care Endorsement

Answer 33

Endorsement extends Section I & II coverages to the home day care "business" described in the schedule provided it is conducted by an insured on the residence premises. Endorsement typically imposes a policy year aggregate limit for the sum of personal Liability (Coverage E) and Med payments to others (Coverage F) losses. Endorsement does not cover injury to any employee arising out of the "business" as described.

Question 34

Additional HO Liability Coverages

Answer 34

Claims Expense First Aid to Others Damage to Property of Others Loss Assessment Coverage

Question 35

Section II Exclusions Categories

Answer 35

Apply to Section II Apply to both Coverage E & F Apply to just E Apply to just F

Question 36

Section II Exclusions

Answer 36

Motor Vehicle Liability Aircraft Liability Hovercraft Liability

Question 37

Exclusions for E & F

Answer 37

Expected/Intended Injury BI or PD in connection with business conducted BI or PD arising from failure to render professional services No coverage if premises isn't an insured location Communicable disease Sexual molestation, Corporal Punishment, Physical or Mental Abuse If controlled substances are involved War or nuclear weapon discharge Any accident with a motorboat unless it's in storage, rented inboard boat more than 50hp, owned outboard boat more than 25hp, owned or rented sailing vessels 26ft or more in length

Question 38

After Occurrence Information

Answer 38

Policy Number Identity of Insured Info about time, place, and circumstance of occurrence Names and Addresses of claimants and witnesses