HO

How much coverage is provided under a homeowner's policy for theft or unauthorized use of a credit card?

$500.00 (May be increased with an endorsement)

According to loss payment condition in HO Policy, losses must be paid within how many days of the insurer receiving proof of loss?

60 Days

HO - 2

A named peril policy - Rain is not covered, unless the hole was caused by a covered peril (wind or hail)

Which of the following risks would not be covered under Homeowner's? A. An applicant who owns and lives in a single family dwelling that also contains incidental business B. An applicant who owns and lives on a commercial farm C. An applicant who lives in a duplex that she doesn't own D. An applicant who owns and lives in a duplex.

B. An applicant who owns and lives on a commercial farm.

HO-4 and HO-6

Covers Broad form Perils

Permitted Incidental Occupancies

Covers liability exposure arising from an incidental business conducted within a building on the residence premises.

HO - 6

Designed for individuals that own and reside in a condominium

Elaborate homes and those with detailed designs or decorative architecture w/ replacement costs greater than ACV or market value are insured on?

HO - 8 - Used to insure houses with replacement costs more than market value and those built with irreplaceable material. - Modified HO - 1 and provides ACV coverage for Coverage A.

Severability of Insurance

Homeowner's Insurance applies separate to each insured

Disagreement of Loss

If the insurer and the insured are unable to reach an agreement as to the value of damaged property, either party may make a written request for appraisal, and the appraisers select an umpire to settle any differences between the appraisers.

Other Structures

Included in coverage, is not applied by an endorsementF

Homeowners Coverage Forms

Landlord furnishings in an on-premises apartment are covered for up to $2,500 - All other types would be excluded

Watercraft Endorsement

Provides liability protection for BI or PD caused by the ownership or use of watercraft. (Excluding when used to carry persons for a fee or when rented out to others)

HO - 3

Provides open peril coverage on the dwelling and broad form coverage on personal property

Scheduled Personal Property Endorsement

When items are put under a schedule, they are excluded from Coverage C as insured items, and are covered under only the endorsement.

Homeowner's 2000 Policy

Will pay up to $5,000 for grave markers, including mausoleums, on or away from the premises for loss caused by a peril insured against under Coverage C.