chapter 6

married couple owns a single family dwelling covered by a Homeowners Policy Special Form with replacement cost coverage equaling $150,000. If their detached garage is a total loss how much will the policy pay?

$15,000

Bob is covered by an unendorsed HO-3 Homeowners Policy and is insured to value. The covered dwelling has a replacement value of $200,000 and Bob carries $160,000 of coverage. If a fire causes $27.000 worth of damage how much will the Policy pay?

$27,000 less any deductable

B has an HO-5 Homeowners Policy on his home with a $1,000 deductible and is covered under replacement cost for $100,000. If B's home were to suffer a loss, how much will the insurer pay for a new home to be built?

$99,000

Coverage to private structures on the residents premises that are not connected to the main dwelling are covered under what subsection of Coverages under a Homeowners Policy?

Coverage B

which type of property coverage under the HO policy would cover expenses related to loss of use of unused property?

Coverage D

what homeowners policy form provides all risk coverage to cover a detached garage?

HO-3

in a homeowners policy all of the following may provide a form of coverage A, EXCEPT

HO-4

which of the following Homeowners Policy provides open-peril coverage on unscheduled personal property?

HO-5

besides premium what is the biggest difference in coverage between HO-3 and HO-5 Homeowners Policy is?

HO-5 polices are open peril on contents and HO-3 are not

which unendorsed home owners policy is the only one that provides open perils coverage for personal property?

HO-O5

which of the following losses would not be recoverable under section II of a Homeowners Policy?

Named insured son damages garage with his car

who is an HO-4 Homeowners policy designed for?

a tenant renting a condo unit from the owner

Your home is insured for $80,000 under a Modified Coverage Form (HO-8). You have a partial loss totaling $25,000 to your dwelling. The loss would be payable as

actual cash value less deductible

an HO-6 home owners policy is available to the owners of condominium units. The policy provides coverage for unscheduled personal property, loss of use, and personal liability. The insurance contract also includes coverage A protection for

additions and alterations to the interior of the unit

which type of coverage is not provided under an unendorsed Homeowners Policy HO-O6 condo owners form?

appurtenant structures - Coverage B

which of the following losses is not covered by a HO policy written on the Broad Cause of Loss Form?

back up from sump pump

each of the following losses would be covered under open perils coverage under a Homeowners Policy, EXCEPT

damage caused by water seepage form water pipes

which of the following perils are covered by both HO-3 and HO-5 Homeowners policy?

earth movement caused by an explosion

each of the following is known as an additional coverage, a coverage automatically provided on a policy beyond the major categories of coverage , under a Homeowners policy, EXCEPT

fire coverage

J owns an antique, historic home that has a custom, priceless stained glass window that was created by Tiffany & Company. One day, J's neighbors daughter is practicing her fast pitch softball in the backyard and the ball slips out of her hands and goes through the stained glass window. Which of the following loss valuation will be applied for the stained glass window under the HO-8 form?

functional replacement cost

which of the following situations would be covered under coverage E-Personal Liability under a Homeowners Policy?

insured injures someone while riding on the golf course in their golf cart

which of the following would be covered under an unendorsed Homeowners policy?

loss due to lightening strike

Leslie has a Homeowners Policy that covers both her name and belongings inside the home. A windstorm rips a hole in the roof of her home. Tells insurance and does nothing. 3 days later rain damages ger furniture. Which is true of her claim?

loss of roof covered. but not belongings.

a homeowners policy provides indirect loss coverage in which of the following coverage areas

loss of use

which of the following persons is considered to an insured under a Homeowners Policy?

neighbor who is walking insureds dog because they are sick

a home owners policy is considered a multi line policy because it consists of both

property and liability coverage

contents coverage on all Homeowners Policy Forms are settled at actual cash value. What is needed to eliminate deprecation for losses to contents?

replacement cost endorsement

each of the following is a cause of loss form available for a Homeowners Policy, EXCEPT

specific cause of loss form

each of the following is a named peril on a Homeowners Basic Cause of Loss form, EXCEPT

terrorist activity

H is reading through his HO-4 policy and keeps seeing the language "you" and "your". Under Homeowners Policy definitions "you" and "your" refer to?

the insured

each of the following is a scenario in which the insured's coverage F on his Homeowners policy would pay the injured parties medical expenses, EXCEPT

the insured person is the daughter of the insured who lives on the premises

which of the following would be considered by definition to be a residence premises under a Homeowners Policy?

the insureds 2 unit dwelling listed on declaration page

which peril on the HO-8 Homeowners policy is NOT an exclusion?

theft