Property policies

Question 1

HO

Answer 1

=home owners policy

Question 2

DP

Answer 2

=dwelling policy

Question 3

HO-1

Answer 3

> basic homeowner policy

>covers the structure of the home

Question 4

HO-3

Answer 4

> the home (structure/property) is covered on an OPEN PERL basis so that all is covered except for exclusions
and the BELONGINGS are covered on an open peril basis
most common HO policy offered

Question 5

HO-5

Answer 5

> is the best home insurance
BOTH personal property & home are covered
covers more because of its extensive coverage
not usually offered

Question 6

DP-1

Answer 6

> the most basic insurance policy available for rental properties
aka landlord insurance

Question 7

DP-3

Answer 7

> is the coverage for a homeowner who does not reside in the home but rents it to others
maya’s house

Question 8

HO-6

Answer 8

> condo form
designed specifically for condo owners & financially protects belongings & personal liability
Michael Scott

Question 9

HO-4

Answer 9

> renters’ policy

>protects your belongings when you are renting a home or apartment

Question 10

Homeowners & renters insurance does not cover earthquake damage.

Answer 10

a standard policy will cover losses from fire following a quake & additional living expenses while living elsewhere for repair