CISR: Homeowners Questions With Correct Answers!!

The two major sections of the Homeowners policy are ___________________ & Section II Personal Liability - Answer Section I Property Coverages Combining these two sections provides a ______________________ used to insure loss exposures related to owning, occupying and maintaining ________________________ - Answer Package Policy; a Residence Which type of homeowners policy is appropriate for a condominium owner seeking insurance for both structure and contents? - Answer HO 6 Unit Owners Form Which of the following are found on the Homeowners Declarations? Coverage Form Applicable; Named insured; Mortgagee; All of the above. - Answer All of the above Which of the following people would be considered an insured as defined in the policy? Harry, the policyholder named in the Declarations; or Harry's adult daughter and her spouse who live in another city. - Answer Harry, the policyholder named in the Declarations Do you think that a lake cabin your insured purchased 2 years ago is automatically an "insured location" on the Homeowners Policy for their home in the city? Yes; No - Answer No An occurrence can include repetitive action that happens over time, such as a slow water leak. True; False - Answer True Do you think that the definition of "residence employee" includes an individual who is employed by the insured's home based business? Yes; No - Answer No The four parts of Section I Property Coverage include all of the following except: Coverage A Dwelling; Coverage D Loss of Use; Coverage F Medical Payments; Coverage C Personal Property - Answer Coverage F Medical PaymentsSelect the item that could be covered under Coverage B Other Structures: A gazebo on the residence premises; A sofa inside the insured residence; A garage attached to the insured residence. - Answer A gazebo on the residence premises The Personal Property limit, or Coverage C, is usually ______% of the Dwelling Limit - Answer 50%