Homeowners insurance

What is the standard liability limit for Coverage E?

100,000 per occurrence

Which of the following classes of personal property has special limits under the homeowners policy?

A replacement cost basis

the collapse additional coverage is included in which homeowners forms?

ALl forms except the HO-8

Under all homeowners forms except the HO-5, losses to personal property are paid on

AN actual cash value basis

Which of the following losses would NOT be excluded under most of the homeowners forms?

Accidental and sudden discharge of water from a plumbing system

Which of the following could be insured under Coverage C? (Except where specifically noted, assume all property belongs to the insured.)

Art collection

Which homeowners form provides broad coverage for both the dwelling and its contents?

HO-2

An individual lives in an apartment. Which homeowners form should he purchase to cover his personal property

HO-4

A homeowner who wants the maximum protection for her home and personal property should purchase an

HO-5 policy

Which of the following would NOT be covered under Coverage A or Coverage B of the homeowners policy? I. A greenhouse attached to the porch of the insured's home II. A guest cottage on the insured's estate III. The insured's ranch-style home IV. A barn rented to a neighbor to use as a retail arts and crafts store V. A stack of lumber at the edge of the insured's property that will be used to construct a boat shed VI. A detached shed rented to a neighbor as a private garage for an antique auto VII. The insured's poolside cabana

IV

Which of the following statements concerning medical payments to others coverage are NOT CORRECT

Injuries that occur off the insured location are never covered

Which of the following could be covered under a homeowners policy? Assume there are no endorsements attached.

Lakeside cabin where the insured resides during the summer

Which one of the following perils is covered in all of the homeowners forms?

Smoke

After a homeowners policy has been in force for 30 days, the insurer discovers the insured misrepresented certain material facts. The insurer wants to cancel the policy. Under what circumstances may it do so?

The company must give the insured 10- days written notice of cancellation

Which of the following classes of personal property has special limits under the homeowners policy?

Valuable papers

A hose on a washing machine in the insured's condominium comes loose and leaks water all over the floor. The repair person has to tear out part of the wall to fix the defective hose. The insured's HO-6 would cover

both the water damage to the floor and the cost to repair the damaged wall

Under the homeowners policy, which one of the following classes of personal property has special limits for theft losses, but not for other types of losses?

jewelry

Which of these statements about coverage C are correct

property normally kept at a residence other than the residence premises is covered for 10% of the Coverage Climit or 1000, whichever is greater

the Landlord's Furnishings Additional Coverage is included in

the HO-2, HO-3. and the HO-5

Which of the following statements concerning personal liability coverage are NOT CORRECT?

the insurer will not defent liability claims brought against the insured that are grounless or false

A person is injured on the insured's premises and sues for the cost of nursing care required during the recovery period. Could the insured's liability for these expenses be covered under Coverage E of the homeowners policy

yes

The insured damaged a neighbor's tool shed when a tree he was cutting down in his yard fell on the neighbor's shed. Not only does the neighbor have to repair the shed, but he must find temporary storage for the garden equipment he stored in the shed. Could the insured's liability for these expenses be covered under Coverage E of the Homeowners policy

yes