Homeowners Insurance - C

Maci has $500 cash destroyed by fire in her covered home. She files a claim under her standard Homeowners policy. How much will the policy pay on this claim.

$200.

A new home that cost $500,000 to build, would need which of the following coverage amounts under a Homeowners policy for the insured to receive full replacement cost coverage in the event of a $50,000 fire loss?

$400,000.

Coverage A of a Homeowners policy would cover all of the following, EXCEPT:

A storage shed connecting to the dwelling by a utility line.

Which of the following property would be excluded from coverage for loss under the Coverage C of the Homeowners policies?

A valuable baseball card collection owned by the named insured's son that is covered under a separate personal articles floater.

An insured suffers a partial fire loss to his residence. Under an HO-3 policy what insuring agreement is available to pay for temporary, alternate living quarters?

Coverage D.

Under a standard HO-3, the limit for Coverage C -- Personal Property for a one or two-family dwelling:

Is set at 50% of Coverage A.

A home is insured under an HO-3 policy. One of the "other structures" on the same property is used by the insured for his business. The building burns in a fire. It would...

Not be covered because buildings used for business purposes are excluded.

If an insured covers his home with a standard unendorsed HO-5 form and purchases a Coverage A limit that meets the coinsurance requirement, which of the following would NOT be covered on a replacement cost basis?

Personal property.

The insured is moving to a new primary residence. Coverage under a Homeowners policy for the personal property being moved between the old and new location is:

Provided on a pro-rata basis.

A home is insured by an unendorsed HO-3 form. The home burns and all of the policyholder's jewelry is destroyed. The maximum the insured can collect under the HO-3 policy for the jewelry is:

The actual cash value of the jewelry.

The third loss of use coverage provided by Coverage D is...

civil authority prohibits use.

Motor vehicles are excluded from Coverage C...

except those vehicles that are used to service the premises or for the use of the handicapped.

The limit of liability for each insuring agreement of a Homeowners policy...

is based on the primary amount of insurance selected by the insured.

Materials and supplies located under an existing covered dwelling, used to construct, alter or repair the covered structures...

is covered under Coverage A.

For all form except the HO-4 and the HO-6, the primary amount of insurance...

is the Coverage A amount.

For the HO-4 and HO-6 forms, the primary amount of insurance...

is the Coverage C amount.

The special limits of liability for Coverage C...

provide $2,500 for the theft of firearms.

Coverage D - Loss of use...

provides indirect loss coverage for the additional living expenses and fair rental value.