Mrs. North's will specified that her daughter, Carole, would be a 50% owner and her stepdaughters would each own 25% of the home. Renters insurance can do more than help protect your property.
Chapter 4: Homeowners Flashcards | Quizlet Joaquin wants both property and liability insurance in one policy. The agent recommends either the HO 2 Broad Form or the HO 3 Special Form. ), $74,850.0035,798.00\begin{array}{r r} D. a good mood. A. fur coats Take pictures of all items and receipts, and send them to your insurer. B. The coverage for Damage to Property of Others excludes property that is covered in Section I If the shrubs in front of a house burn when the house catches fire, how much is the insured entitled to recover for the shrubs under his HO-3, 5% of the limit of Coverage A with a maximum of $500 for any 1 shrub, In the HO-4 and HO-6, the limit for trees, shrubs, or plants is __% of the coverage C limit or a maximum of $___ for one tree, plant, or shrub. 80% of the replacement cost. B. domestic shipments of goods, An insured has how many days grace period to get newly purchased fine art scheduled? C. all-risk People with collections that are valued at more than the maximum coverage amount should consider supplementalscheduled property coverage. Mrs. Delaney hired a contractor to build a deck on the back of her house. Renters Insurance Coverage and Policies | Allstate Renters insurance can do more than help protect your property. B. D. Damage to property owned by the insured's tenant. In addition, it provides personal liability coverage. Mrs. Oates doesn't want depreciation applied to any claims she might submit under her homeowners policy for loss or damage to her belongings.
Why You Should Consider Scheduled Personal Property Coverage theft, Additional coverages found in all homeowners forms include, Debris removal D. Territorial Limits. $$, What is covered under Coverage C - Personal Property, Personal property of the insured located anywhere in world, HO-2 policy provides an additional ____% of the amount coverage on the dwelling for loss of personal property, but only ___% of the personal property limit can be applied to property not located at the insured's primary residence, What homeowners endorsement is used to insure high-value items of personal property. & \$74,850.00\\ It includes the Broad Form named perils on an actual cash value basis -- The HO-4 provides Broad Form named perils coverage on an actual cash value basis. After cooking dinner, he turns off the gas to the grill. Which of the following is true concerning the Home Day Care Coverage Endorsement to the Homeowners Policy? What are the main advantages to the insured if the homeowners policy is a package policy? Throwing cargo into the sea to save a sinking ship is: B. Coverage for business property on the premises is limited to $2,500; away from the premises the limit is $1,500. Scheduled personal property is an endorsement you add to your homeowners insurance to provide extra coverage for your valuables. A. C. Home schooling is permitted under a Homeowners Policy Sandra, Lynn, and Carole inherited their family home from Mrs. North. Kevin is looking for a job as a piano technician. C. The insured's tenant The cause is determined to be a defect in the grill. Coverage C: Personal Property A better solution. Other structures, which include items such as sheds, fences, and the mailbox. Cassie notices that a Scheduled Personal Property Endorsement (HO 04 61) is attached to her homeowners policy.
PERSONAL INLAND MARINE - The Rough Notes Company Inc. Gabriella lives in a multi-unit dwelling. The preferred stockholders are also due to receive dividends in arrears for one year. Which of the following would be covered under the Damage to Property of Others additional coverage of the Homeowners Policy? Physicians and Surgeons Floater A. Choose the false statement regarding the coverage of property under a Homeowners Policy. $$ The election process for the Academy Awards (for films) involves several stages and several different voting methods. Which property would be settled for its actual cash value even if the Personal Property Replacement Cost Loss Settlement Endorsement is attached to the HO-3 policy? A person who owns and lives on a farm -- Homeowners eligibility does not include farm property, but does include certain incidental business occupancies. A. Dwellings under construction are covered for theft
PDF Endorsement Ho 04 61 Scheduled Personal Property The right of privacy was not acknowledged as a separate right until the 1960s.
Renters Insurance Coverage and Policies | Allstate Which of the following statements about coverage under the federal flood insurance . Coverage B: Other Structures B. loading bridges, Which Personal Articles Floater item is insured on a stated value basis? B. One day the dog attacks a neighbor while she is working in her own yard. C. It covers injury to an employee, as well as attendees, arising out of day care operations Standard policies do not cover all types of property and set limitations on the value amount the insurance company will pay for specific losses. Which of the following is true regarding the HO-3 (Special Form)? Borrowed property meets the definition of contents --- Coverage C covers property owned or used by the insured, including property owned by others. B. fine art
PI: 3.1.1 Homeowners Policy Flashcards | Quizlet "Scheduled Personal Articles Insurance Coverage." The earthquake endorsement is attached to Paulina's homeowners policy. The most common perils covered by an HO-1 policy include: Fire or lightning Smoke Windstorms or hail Explosion Aircraft Vehicles Vandalism Theft Few homeowners have this type of policy. D. Replacement cost, A person who owns jewelry worth over $50,000 should get a: Under an HO-2 policy with a coverage limit of $50,000 on the dwelling, what is the amount of personal property coverage that would be available? You tell her that by adding this endorsement the insurer agrees to pay the lowest of the following values, for most types of property insured on the endorsement, EXCEPT: Beatrice works from her home, on a part-time basis, as a hairdresser. 1,500 for jewelry; $2,500 for theft of firearms. includes: Which of the following is true regarding eligibility of a Homeowners Policy? Todd has a large gun collection and his wife, Tina, has several items of valuable jewelry. Caterpillar had no preferred stock outstanding. Definition amd Coverage, Tiny House Insurance: How to Insure Your Tiny Home, What Is Umbrella Insurance Policy? Coverage may be increased beyond the $2,500 additional coverage (10.) - does not cover a detached garage used for business, Under the special limits of liability section, the policy limits loss of theft of jewelry, watches, furs, and precious and semiprecious stones is $_____, The loss settlement provision of homeowners policies require that the insured carry a limit of insurance at least equal to, 80% of the full replacement cost of the dwelling. Scheduled personal property coverage provides three specificadvantages that extend beyond the benefits of a standard insurance policy: By clicking Accept All Cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
Does homeowners insurance cover theft outside the home? Exam 5 Flashcards | Chegg.com Sandy and Stewart had a fire loss, and the insurance company reimbursed them for their damaged personal property. D. Coverage F limits are subject to a deductible. \text{\$5.000} & \text{1.1\\% compounded quarterly} & \text{8 yr} & \text{c.}\\ Under an HO-3 policy, what is the coinsurance requirement? The stone could be replaced for $1,700. Most companies will require copies of either areceiptor anappraisalof the item before providing the coverage. Mac's homeowners policy pays for the damage to the home and grill. If her ring is stolen, the insurer will pay (given a $250 deductible)? C. Fine art floater Borrowed property meets the definition of contents These items are covered for losses caused by all the perils included in your policy such as fire, windstorm, theft and vandalism. An insurer may not be sued unless the insured has fully complied with the terms of the homeowners policy and the suit is brought within how many years of the loss date? B. intended use Unscheduled personal property refers to items automatically covered by homeowners insurance without the need for an appraisal or receipt. fire Including debris removal, what is the maximum an HO-3 policy with a Coverage A amount of $250,000 will pay If a detached garage burns down? Find (a) the maturity value and (b) the present value of the note assuming 5%5 \%5% per year compounded semiannually. What endorsement do you recommend? A. replacement cost The Section I deductible does not apply to property covered under the Scheduled Personal Property Endorsement D. Section I limits coverage on utility trailers up to $500 The Section I deductible does not apply to property covered under the Scheduled Personal Property Endorsement - The Scheduled Personal Property Endorsement has no deductible. Which of the following would be covered under the Damage to Property of Others additional coverage of the Homeowners Policy? C. Borrowed property meets the definition of contents How would a covered loss to their home be settled or adjusted? A commercial bank has $100 million in checkable-deposit liabilities and$12 million in actual reserves. Which of the following endorsements to the Homeowners Policy adds coverage for injury resulting from libel, slander, false arrest, defamation, invasion of privacy and other such offenses that could result in a personal liability suit? All of the following statements is correct about a Homeowners Policy, except: An unscheduled property floater is an addition to an existing property insurance policy to cover items that have not been individually itemized or valued. B. ocean marine, Which peril is covered by a scheduled personal property endorsement? The required reserve ratio is 10 percent. \end{matrix}
}\\ The Section I deductible does not apply to property covered under the Scheduled Personal Property Endorsement - The Scheduled Personal Property Endorsement has no deductible.
STANDARD HOMEOWNERS ENDORSEMENTS - Insurance Coverage Law Center Will the definition of 'residence premises' in an HO 3 policy apply to this dwelling? This provides coverage for specific items of property that exceeds the internal limit on the policy, Loss settlement is based on the ____ ____ ____ up to the amount listed on the endorsement. Theft from a dwelling under construction prior to its occupancy C. 100% of the actual cash value. A. affective events theory What is Scheduled Personal Property? Natalie offers to rent a room in her home to a local college student. These duties include household and domestic services, such as those of a gardener or nanny. A. inland marine D. Installation Floater. Scheduled personal property endorsement If the insured owns a watch valued at $10,000, full coverage can be provided on a homeowners policy by purchasing the 80% The dwelling insured on HO-2, HO-3, or HO-5 forms is covered for replacement, provided that it is insured for at least what percentage of replacement cost on the date of loss? True or False? Some possessions covered by a scheduled personal property endorsement include jewelry, coin collections, postage stamps, furs, antiques, guns, fine arts, silverware, and other items whose value exceeds what your regular homeowners policy covers. The Scheduled Personal Property Endorsement, HO 04 61, does not define fine arts, leaving the category open for anything that does not fall into the jewelry, furs, cameras, musical. B. Open perils coverage is available by Endorsement for scheduled items at an additional premium. In some situations, property owned by others may also be covered under a standard policy. What is relocation diffusion in human geography? Scheduled personal property is a supplemental insurance policy that extends coverage beyond the standard protection provided in a homeowners' insurance policy. D) Whatever it will reasonably cost. A Personal Articles Floater:
What is the ppp-value? He asks his insurance agent if the family cemetery plot and the small greenhouse he rents to a friend who grows and sells orchids are also covered under the policy. Mrs. Zabinski's homeowners policy is written on a form HO-6, Unit-Owners Form. Scheduled Personal Articles Insurance Coverage, Other structures that are not attached to your house, including fences and storage sheds, Additional living expenses if you move out of your house (loss of use coverage), Medical bills for someone injured on your property. `Lisa lost one of her emerald earrings. D. vermin damage, A unique exclusion that is found only in the Fine Art Floater is: On dry pavement, the standard deviation is 16 feet.
Chapter 5 - Homeowners Policy Flashcards | Quizlet Learn how coverage works. C) the neighbor's medical expenses. Scheduled personal property is an endorsement you add to your homeowners insurance to provide extra coverage for your valuables. A. covers inherent vice. A) damage to the neighbor's yard. D) Personal property replacement cost endorsement.
P & C Licensing Exam Flashcards | Chegg.com B. Dwellings under construction are covered for theft Damage to Property of Others coverage is provided up to a specified limit regardless of negligence - Damage to Property of Others pays up to $1,000 regardless of whether the insured is liable or not. A standard homeowners insurance policy covers your personal property up to a specific limit. Personal Articles Floater, Inland Marine policies are called? C. insect damage fire dept service charge Her agent recommends a. \end{array} How big are the banks excess reserves? A. breakage Which of the following is not an option available to Laura? (Round to the nearest cent. D) damage to the neighbor's clothing. Although she is willing to accept the insurer's settlement offer for the ceiling, walls, and hardwood floors, she objects to the insurer taking into account depreciation of the furniture and clothing.