Kentucky Property & Casualty (Chapter 6) 2024 passed

Kentucky Property & Casualty (Chapter 6)Homeowners Insurance - correct answer A multi line policy that includes property and liability insurance within the same contract. Introduced in the 1950s. Offers coverage on all 13 perils included in the standard fire policy and adding an additional nine perils called the broad for imperils. Total perils covered 22 Protects individuals and families who own and occupy a residential building. Owner occupied property owners will choose between HO-02, HO-03, and HO-05. All offer replacement cost coverage HO-04 is available to renters HO-06 is designed for condo owners Homeowners HO-02 (Broad) - correct answer Covers named perils for dwellings other structures and personal property. Named perils coverage for dwelling, other structures, and personal property. Replacement cost coverage on the dwelling and any detached structure at 80% Actual Cash value on contents