Idaho Insurance Property (Well-enlightened)

counterfiet correct answers a fraudulent imitation; forgery incidental correct answers occurring as a minor consequence of something more important Material Misrepresentation correct answers the intentional act of concealing or altering an important fact that would have altered the basis of a decision by the other party. Named Peril correct answers a risks or cause of loss specifically listed in a policy Open Peril correct answers a term used in property insurance that describes the breadth of coverage provided under an insurance policy form that insures against "any risk of loss" that is not specifically excluded. Residence Premises correct answers one- or two-family dwellings, other structures, or grounds in which an insured resides, listed on declarations page Subrogation correct answers the right for an insurer to pursue a third party that caused an insurance loss to the insured. third party correct answers a person (or group) other than the two involved in an insurance contract (insured and insurer). watercraft correct answers boats, ships, or other water-based vehicle operated for personal use Special Form (HO-3) correct answers open peril on dwelling, named (broad) on personal property cancelation and nonrenewal correct answers 10 day notice for nonpayment, 30 day written notice for all other nonrenewal/cancellations part E Liability correct answers $100,000 basic limit, can be more. Coverage F: Medical Payments to Others correct answers pays all necessary medical expenses incurred within three years of an accident that causes bodily injury. Starndard Deductible correct answers $250 homeowners forms correct answers basic form; broad form; comprehensive form coverage b - 10% of A coverage c - 50% of A coverage d - 30% of A