State Farm Fire Independent Policy Exam | Questions with 100% Correct Answers | Updated 2024 | Guaranteed A+

Select the false statement listed below: In the HO-3 policy, the ALE payments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE payments can run beyond the expiration of the policy. D. ALE payments are limited to incurred costs for the shortest of three time frames as dictated by the policy. E. ALE payments will not exceed 20% of Coverage A limits. E. ALE payments will not exceed 20% of Coverage A limits. The insured has a HO-3 policy in force. All of the losses are covered except: Select the single best answer