C12 - Insurance of Property Chapter 9 questions with answers

C12 - Insurance of Property: Chapter 9
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questions with answers |\ |\




What term, formerly the title used for the Coverage Summary
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Page, is now used as the subtitle of the Coverage Summary
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page? - CORRECT ANSWERS ✔✔A Guide to Your Policy
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Domestic water containers are significant t what peril - CORRECT
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ANSWERS ✔✔ |\




Give 5 examples of objects encompassed in the term 'domestic
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water container'. - CORRECT ANSWERS ✔✔1. Hot-water heating
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tanks
2. Water Beds
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3. Kettles
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4. Aquarium
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5. Water Reservoirs in a Refrigerator
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Other than the named inured, who is included in the definition of
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the term 'insured'? - CORRECT ANSWERS ✔✔While living in the
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same household; the insureds spouse, the relatives of withe
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insured or their spouse, and any persons under 21 in their care.
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Who may take legal action to enforce the contract? - CORRECT
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ANSWERS ✔✔Only the insured named i the coverage summary
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may take legal action
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,In what instance is a student living away from home no longer
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covered by the named insured's policy? - CORRECT ANSWERS
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✔✔If they are selfsupporting
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Define the term 'premises' as it is used in the Homeowners Basic
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Form. - CORRECT ANSWERS ✔✔The land within the lot lines on
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which the dwelling is situated
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Define the term 'residence employee'. - CORRECT ANSWERS
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✔✔Works for the insured, full or part time in connection to the
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maintenance or use of the permission but not the insured |\ |\ |\ |\ |\ |\ |\ |\ |\ |\


business. (baby sitter, maid, ect.) |\ |\ |\ |\




If unoccupancy lasts more than 30 consecutive days, is the policy
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coverage interrupted? - CORRECT ANSWERS ✔✔Not necessarily,
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depends on the intention of the occupants. |\ |\ |\ |\ |\ |\




Other than the dwelling itself, what other structures or objects
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does Coverage A-Dwelling Building cover? - CORRECT ANSWERS
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✔✔structures attached the premises ( carports, solarium, patio |\ |\ |\ |\ |\ |\ |\ |\


covers and decks) and their attached equipment, and
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permanently installed outdoor equipment (fences, gates, garden |\ |\ |\ |\ |\ |\ |\


lights ect.) |\




Other than the insured's, what property can be covered under
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Part 1 of Coverage C? - CORRECT ANSWERS ✔✔may include
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uninsured property of others |\ |\ |\

, In what circumstances does Part 2 of Coverage C cover personal
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property - CORRECT ANSWERS ✔✔covers personal property
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temporarily away from the premises anywhere in the world.
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What is personal property stored in a warehouse covered
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against? - CORRECT ANSWERS ✔✔only theft
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What is the amount of insurance called that covers all items
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insured under Coverage C? - CORRECT ANSWERS ✔✔a blanket
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limit


What 3 types of property are excluded under Coverage C? -
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CORRECT ANSWERS ✔✔-Motorized equipment
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-camper units |\




-Aircraft


Explain why Coverage C's Exclusion A and B are necessary? -
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CORRECT ANSWERS ✔✔Because they should have their own
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insurance policies |\




Why were the Special limits introduced to Coverage C? -
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CORRECT ANSWERS ✔✔used to limit exposure.
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List the 8 Special Limits found in Coverage C of the Homeowners
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Basic Form that apply to loss or damage by all insured perils. -
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CORRECT ANSWERS ✔✔1. Business property - $2000
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2. Securities - $2000
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