HO Applications
Emily's tenant moves out to due job relocation and she is unable to collect rent, how much would the policy pay if Emily has an HO-8 with a Coverage A limit of $250,000?
A. $25,000 B. $0 (Your Answer) C. $50,000 D. $10,000
A robin gets caught in Teresa's chimney causing a blockage. Given that Teresa has an HO-3, which of the following is true?
A. Damage done by birds is only covered when they fly into the window causing it to break B. Damage due to birds is only covered by the HO-5 Comprehensive Form C. This claim will be denied because damage caused by birds are excluded (Your Answer) D. Chimney's are never covered
On homeowner's policies, the term 'insured location' is a broad term describing where coverage applies. It includes each of the following EXCEPT:
A. Family cemetery plots. B. Land owned by the insured where a new residence is being built. C. An office suite the insured rents for her real estate business. (Correct Answer) D. A second home the insured purchased during the policy period
Which Homeowners policy is designed for condominium unit owners?
A. HO-6 (Correct Answer) B. HO-4 C. HO-3 D. HO-8
Evan gets mugged while on vacation in Bermuda and the thief took $400 in cash, how would this claim likely be settled?
A. He is covered under Coverage C up to 50% of A B. He is covered under Coverage C up to $200 (Your Answer) C. This is excluded since it is cash and cash is never covered by HO policies D. His claim will be denied because he was not on the Residence Premise at the time of the mugging
In the homeowners ('11) policy, personal property used for business purposes:
A. Is covered for up to $2,500 on the premises and for up to $1,500 while away from the residence premises. (Your Answer) B. May be covered only while on the residence premises. C. Cannot be covered. D. Is covered only if an additional premium is paid
A storm cause significant rain damage to a homeowner's basement and furniture in the basement. The homeowner has an HO-2. All of the following are false regarding how this claim will be handled except:
A. Only the damage to the furniture will be covered B. The claim will be paid up to her limits because the HO-2 receives Broad peril coverage C. The claim will be paid as long as the Homeowner reported the claim promptly D. The claim will be denied
Which homeowner forms do not provide any dwelling coverage (Coverage A)?
A. The HO-4 only (Correct Answer) B. The HO-4 and HO-6 (Your Answer) C. The HO-6 only D. The HO-5
There was a gas leak in George's neighborhood causing his home to explode destroying his wife's diamond ring. Which of the following is true?
A. The ring is covered under Coverage C up to $2500 B. George and his wife will need to provide an appraisal to prove the value of the diamond ring C. The ring is covered under Coverage C up to $1500 D. The ring is covered under Coverage C up to 50% of A
Under the HO-4 and HO-6, all property is insured against the
A. special form perils (Your Answer) B. basic named perils C. broad named perils (Correct Answer) D. blanket form perils
Bill is renting an apartment. He has purchased an HO-4 to protect his assets and his liability exposure. Following a home intrusion, Bill details that the following items were stolen. How much would Bill's insurer indemnify him for? $500 TV $2,000 Fur coat $3,000 Goldware $5,000 Rolex watch
A. $10,500 B. $4,500 (Your Answer) C. $6,000 D. $10,000
Bob has an HO-2 on his home. He has submitted a proof of loss to his insurance carrier following a burglary. Which of the following items would be fully covered for their loss?
A. Hunting rifle valued at $4,000 B. Business laptop values at $3,000 C. Fur coat valued at $5,000 (Your Answer) D. TV valued at $4,000 (Correct Answer)
When Sam went out to his car to go golfing with his buddies, he finds that his car was stolen and his new golf clubs were inside it. Which of the following is false regarding this claim?
A. The golf clubs are covered under Coverage C (Your Answer) B. The vehicle and golf clubs will be covered under Coverage C up to 50% of A (Correct Answer) C. Personal Property is covered on a worldwide basis D. The vehicle will not be covered under the Homeowners policy
Rachel had a $200,000 home covered on an HO-2. Following a total loss to her house, she would be able to recover what amount for her personal property?
A. $50,000 B. $20,000 C. $160,000 D. $100,000 (your answer)
The Osmonics are adding an addition on to their home. They are currently covered by an HO-3. A fire starts in the back yard destroying several items. Which of the following are covered by Coverage A?
Construction materials used in the addition.
Carrie has a set of seven stamps and one of the stamps is destroyed by her dog. On an Ho-3, which of the following is true?
Damage done to your property by your domestic animals is never covered by any of the HO forms
Which of the following perils is covered by the HO-2 and HO-3?
Falling Objects
Henry has an HO-5 and his home is damaged due to an earthquake and the following aftershocks. Which of the following statements is untrue about this claim?
Henry is covered for the first 72 hours
Janna has an HO-5 with a coverage A limit of $400,000 and her unattached garage burned down in a fire, which of the following describes how this claim would be handled?
The claim will be covered up to $40,000 under Coverage B.
A burglar breaks into the house damaging a window and stealing a TV, a silver tea set, and some clothing. How would the homeowners HO-3 pay for this claim?
The damage to the home is not covered because vandalism is exlcuded but the Personal Property that was stolen will be covered up to 50% of A B. The damage to the window would be covered under Coverage A, the TV and clothing would be covered under Coverage C up to 50% of A and the silver tea set would be covered up to $2500 (Your Answer) C. Only the damage to the window will be covered D. The damage to the window will be covered by Coverage A and the Personal Property will be covered by Coverage C up to 50% of A
Tim has a $68,000 yacht parked in his back yard that gets damaged by a hurricane. Which of the following is correct regarding how this claim will be handled?
The yacht will not be covered because it was not enclosed
The HO-3 provides:
open peril coverage for the dwelling and broad coverage for personal property