P & C Unit 6 Checkpoint

Under the DP-1 -- dwelling basic form, property that is removed from the premises to protect it against loss is covered from how many days?

5 days

Which of the following losses is cover in the perils-broad from?

A fallen tree limb destroys the insureds roof.

According to the loss settlement condition in the DP-2 and DP-3, as long as the insured carries insurance equal to 80% or more of the full replacement cost of the building at the time of loss, the loss to the dwelling or other structures will be paid on

A replacement cost basis

What type of insurance protection does Coverage E provide?

Additional living expenses the insured has after a covered loss

Which of the following losses is NOT excluded by Coverage L?

Court costs charged against an insured in any suit the insurer defends.

William and Joan need to purchase dwelling insurance for their vacation home. They want to insure the dwelling itself and their personal property in the vacation home. Which of the following coverages should they purchase?

Coverage A and C

Which of the following covered perils forms is the most inclusive?

DP-3

Personal liability and payments to others coverage includes all of the following additional coverages EXCEPT

Damage to property of the insured

Which of the following statements about dwelling insurance is NOT correct?

Dwelling insurance requires the home be owner occupied

Which of the following properties would not be eligible for coverage under a dwelling policy?

Dwellings with six units that may be used as rental property

Which of the following is covered in the DP-1 -- dwelling basic form?

Fire department service charge

Which of the following is NOT excluded in all dwelling policies?

Loss resulting from the freezing of plumbing

All of the following statements about the residential theft coverage endorsement are true EXCEPT

The broad theft endorsement is available for dwellings that are not occupied

Under Coverage M --medical payments to others, which of the following statements is INCORRECT?

The insurer will pay all necessary medical expenses incurred within 2 years of an accident

Which of the following loss conditions gives the insurer the right to repair or replace the damaged property with material or property of like kind within 30 days of the insured's statement of loss?

The our option condition

Clint has a DP- 1 policy and chooses not to add on any extended coverage for an additional premium. Which of the following perils would NOT be covered in his policy?

Wind

All of the following statements about Coverage C- personal property are true EXCEPT

if the property is a rental, the tenant's property is covered

Which of the following statements regarding other endorsements that may be used in a dwelling policy is NOT correct?

in the dwelling under construction endorsement, the available policy limit decreases as construction on the home progresses.