Unit 9 Misc Personal Insurance

Question 1

Flood insurance Eligibility

Answer 1

In 1968, congress created the NFIP to make flood insurance available to eligible communities through federal subsidization.

Question 2

What is not considered flood and not covered?

Answer 2

Sewer backup, water from a broken water pipe, washing machine, dishwasher, or water main break is NOT a mf flood.

Question 3

Property not covered in flood policies

Answer 3

Accounts, bills, currency, deeds, evidence of debt, money, securities, bullion, and manuscripts

Newly constructed buildings that are in, on, or over water.

Question 4

Mobile home insurance

Answer 4

Can be attached to an HO-2 or HO-3 to modify coverage for mobile homeowners. Must have a permanent foundation.

Question 5

Umbrella Insurance

Answer 5

Refers to liability insurance that is in excess of specified other policies and also potentially primary insurance for losses not covered by their auto or HO policy.
100/300/100