P & C Unit 9 Checkpoint
All of the following items are excluded from the open peril personal inland marine for EXCEPT
property damaged while being transported inland
Under the regular program. what are the maximum limits for flood insurance coverage on a residential building?
$250,000
An insurance has $300,000 of primary insurance and excess liability coverage of $1,000,000. If the insured has a $350,000 claims, how much will the excess liability policy pay?
$50,000
The personal articles floater provides coverage for all newly acquired property, except fine art, for up to
30 days
Which of the following statements regarding the National Flood Insurance Program (NFIP) in INCORRECT?
Flood insurance policies provide coverage for personal property, real property, and personal autos.
Which of the following is NOT covered under flood insurance?
Personal property in a basement
Samuel and his wife retired and bought a 40-foot boat for $200,000. Which of the following policies are they most likely to purchase in order to insure this boat?
Personal yacht policy
Which of the following statements does NOT accurately describe a personal umbrella policy?
Umbrella policies provide additional property and liability insurance coverage limits.
Self-insured retention limits work like
a deductible
All of the following statements about mobile home insurance are correct EXCEPT
the HO-4 from can be used to cover the mobile home and the contents in the mobile home
All of the following statements about flood insurance coverage are correct EXCEPT
water damage from captured water is covered
