Louisiana P & C Insurance test set two (Passed!)

All of the following are true of Coverage B - Other Structures correct answers The amount of coverage provided by Coverage B is an amount equal to 10% of Coverage A, An example of an other structure would be a detached garage, This coverage is not applicable on the HO-4 policy form. Homeowners policies automatically provide an amount of insurance in Coverage B that is correct answers equal to 10% of the amount written as Coverage A. This amount may be increased by endorsement. An insured invites his neighbors out for a day on the water in his boat powered with a 150 hp outboard motor. While attempting to tie the boat to dock, his neighbor's hand is broken when caught between the boat and dock. What coverage would apply to the broken hand? correct answers The insured's boatowners policy Outboard boat and motor policies are correct answers property coverage only. Homeowners liability correct answers does not apply to outboards with more than 25 hp. Boatowners policies contain correct answers property, liability, and medical payments coverage. The Association's obligation for the payments of claims is $300,000 per occurrence under all of the following policies correct answers Commercial property, Personal property, Automobile liability EXCEPT Workers Compensation (where it pays the FULL amount) The Association will pay the full amount of any covered claim arising out of a correct answers Workers Compensation policy. Insurance companies may be classified according to the legal form of their ownership. The type of company organized to return any surplus money to their policyholders is correct answers A mutual insurer Mutual companies correct answers are owned and controlled by their policyholders. Any surplus money is returned to the policyholders as dividends. Farm fences (except field and pasture fences) are covered by which farm coverage form? correct answers Coverage G Fences, except pasture and field fences, are considered other farm structures and are covered by correct answers Coverage G - Other Farm Structures. #Which of the following would NOT be covered under the liability section of a personal auto policy? correct answers Bodily injury is caused by the insured's negligence while driving a three-wheel all-terrain vehicle.