Claims Adjuster Exam Prep WITH CORRECT ANSWERS 2023

Which term is generally considered to be a definition of "vacancy" in respect to a dwelling? A dwelling from which the contents and occupants are removed. Dwelling Forms provide limited coverage for: 1. Pets 2. Rowboats & Canoes 3. Aircraft 2. Rowboats & Canoes Liability coverage (section II) of the homeowners policy provides: Legal defense costs in excess of the liability limit. What form of the HO program is tailored for condominium owners? HO-6 Unit Owners Form Which HO form is purchased by an amount of Coverage A? Broad Form 00 02 and Special Form 00 03 Territorial limits of the personal articles floater are: Worldwide A dwelling and detached garage are insured under a HO policy with a $250 Section I "all peril" deductible. In the event both buildings are damaged by fire, what statement would be correct? One $250 deductible would apply since the deductible does not apply to each building separately. Under the various dwelling forms, permission is granted: for such use of the premises as is usual and incidental to a residence. A HO policy does not provide coverage for Medical payments to the insured The HO policy may provide coverage on a secondary dwelling located in the same state if the coverage is written on a separate policy. The personal article folder (PAF) is an insurance form used to insure individual personal property such as jewelry, furs, cameras, musical instruments, silverware, fine arts, golfers equipment, stamps and coin collections, and outboard boats & motors all on an ITEMIZED basis. Does the HO-2 provide coverage on open perils? NO! John insured his home on a HO-2 for $100,000. In the case of a total loss, what would be the most he would collect under Coverages A,B,C & D? $180,000 What occurrence would be provides a benefit under Coverage E of the HO program? The insured does property damage to another persons boat while operating their 20 HP outboard motorboat at the lake. Dwelling forms WILL NOT extend coverage to Personal property of an unrelated tenant Under coverage D of the broad form dwelling policy, what is the max amount that could be recovered for one month on a $60,000 policy with a $100 deductible? $500