Homeowners Insurance Quiz B

The standardized Homeowners forms provides coverage for Vandalism & Malicious Mischief only if the structure has not been vacant for:

60 or more consecutive days when the loss occurs.

Which of the following statements is TRUE regarding the HO-6 form?

It covers the walls, floors, and ceilings of dwelling unit.

Which of the following statements is true regarding the sections of a Homeowners policy?

Section 1 coverages vary greatly between the different HO forms.

Mary left an expensive ring on their bedroom dresser before leaving on a business trip. When she returned, nothing seemed disturbed in her home, but her ring was gone. Under the terms of her HO-3 policy, this loss would be considered:

Theft.

Which of the following is a covered basic form peril of the Homeowners policy?

Volcanic eruption.

An HO-5 form provides which of the following coverages for dwellings and their contents?

Open peril coverage for buildings and personal property.

Sarah purchasing a 100 year old home that hasn't had significant renovations. She has contacted her insurance company and requested coverage under an HO-3 form. Her insurance company has refused to place the coverage but offered to cover the home under an HO-8 form instead. All of the following statements provide a reasonable explanation for the insurance company's choice of the HO-8 form, EXCEPT:

The HO-8 from provides higher limits of coverage to replace items such as antique building materials to allow the home to remain true to its original design.

An insured is covered under an HO-3 form. If the insured hits his own house and also damages the garage and the attached fence with his vehicle, which of the damages would be covered?

The damage to the house, garage and the fence would all be covered.