PERSONAL LINES UPDATED COMPREHENSIVE QUESTIONS
AND SOLUTIONS GUARANTEE A+
✔✔forgery - ✔✔the criminal act of fraudulently making or altering a document with the
intent of depriving others of some right, interest or property.
✔✔governmental action - ✔✔an excluded loss in a property policy caused by the
seizure or destruction of property due to the actions of the government. The preventive
destruction of property to stop the spread of a covered fire would be covered.
✔✔hail - ✔✔a basic peril covered under windstorm/hail
✔✔homeowners - ✔✔the series of contracts (HO2 through H08) that provides property
and casualty coverage for the exposures of the typical homeowner
✔✔insuring agreement - ✔✔the provision in a contract that contains the insurance
company's promise to pay benefits for covered loss
✔✔intentional water - ✔✔friendly water invited into building such as water found in
pipes and appliances. Intentional water that suddenly and accidentally damages
covered property is a covered peril under the broad peril form.
✔✔liability - ✔✔to have responsibility for damage caused to another person or their
property
✔✔lightning - ✔✔a basic peril
✔✔loss of use - ✔✔an indirect loss following a covered direct loss. For example, if your
home burns down, the amount of money it would cost to rent a hotel room would be
considered "Loss of Use"
✔✔market value - ✔✔determining worth on the basis of what someone would pay for
the property today. Seldom used in insurance; the notable exception being the HO-8
✔✔medical payments - ✔✔a "no fault" coverage found in homeowners. Commercial
general liability policies and automobile policies, medical payments (Med Pay) is
designed to pay medical bills, dental bills, and funeral expenses. In homeowners and
CGL policies med pay pays for injuries sustained by others, in auto it pays for injuries
sustained by insureds as well as passengers in the insured's auto.
✔✔mobile homeowners - ✔✔A policy equivalent in most respects to an HO-2 or HO-3
tailored to meet the needs of mobilehomeowners.
✔✔modified coverage form homeowners - ✔✔the HO-8
, ✔✔negligence - ✔✔quite often the basis of liability claims and is defined as: "The failure
to do or not do what a reasonable person would do or not do in the same or similar
circumstances."
✔✔occupy - ✔✔in automobile insurance simply means to be in or around a car. In
property policies occupying a building means that you and your property are in the
structure (dwelling or commercial building)
✔✔other structures - ✔✔in a property policy, other structures refer to buildings that are
not attached to a dwelling or the primary insured building. In a homeowners policy, a
detached garage and a tool shed would be two examples of other structures.
✔✔other than collision coverage - ✔✔the modern day version of comprehensive
coverage. It provides coverage for physical damage coverage caused to your car by
something other than a collision with another car or stationary object. Ex: theft, contact
with bird or animal, flood or glass breakage, plus any other accidental loss not caused
by a collision with another car or stationary object.
✔✔personal articles floater - ✔✔coverage available under an inland marine policy for
certain items that need more coverage or coverage for more perils that could be
obtained under a homeowners policy. Types of items might be furs, cameras, jewelry,
and collections
✔✔personal automobile policy - ✔✔a policy purchased to provide coverage on the
named insured's auto or on any auto being operated the named insured or any insured
family member. A personal automobile policy contains liability coverage plus it may or
may not contain property coverage for the car, medical payments coverage, and
uninsured/underinsured motorist coverage
✔✔personal injury liability - ✔✔under a commercial general liability policy, personal
injury liability refers to damage to an individual's reputation
✔✔personal liability policy - ✔✔another name for section II of a homeowners policy
✔✔personal property - ✔✔sometimes referred to as contents, personal property is that
property covered under a homeowners policy that can be easily moved. Ex: clothing,
furniture and dishes. Personal property is covered in many locations including your
home, in your garage, in your shed, or in your possession.
✔✔pollutant clean-up - ✔✔the portion of the CGL and other liability policies which
covers necessary pollution clean-up
✔✔reasonable repairs - ✔✔the company will pay for reasonable repairs made by the
insured to protect the property from further damage following a covered loss.
AND SOLUTIONS GUARANTEE A+
✔✔forgery - ✔✔the criminal act of fraudulently making or altering a document with the
intent of depriving others of some right, interest or property.
✔✔governmental action - ✔✔an excluded loss in a property policy caused by the
seizure or destruction of property due to the actions of the government. The preventive
destruction of property to stop the spread of a covered fire would be covered.
✔✔hail - ✔✔a basic peril covered under windstorm/hail
✔✔homeowners - ✔✔the series of contracts (HO2 through H08) that provides property
and casualty coverage for the exposures of the typical homeowner
✔✔insuring agreement - ✔✔the provision in a contract that contains the insurance
company's promise to pay benefits for covered loss
✔✔intentional water - ✔✔friendly water invited into building such as water found in
pipes and appliances. Intentional water that suddenly and accidentally damages
covered property is a covered peril under the broad peril form.
✔✔liability - ✔✔to have responsibility for damage caused to another person or their
property
✔✔lightning - ✔✔a basic peril
✔✔loss of use - ✔✔an indirect loss following a covered direct loss. For example, if your
home burns down, the amount of money it would cost to rent a hotel room would be
considered "Loss of Use"
✔✔market value - ✔✔determining worth on the basis of what someone would pay for
the property today. Seldom used in insurance; the notable exception being the HO-8
✔✔medical payments - ✔✔a "no fault" coverage found in homeowners. Commercial
general liability policies and automobile policies, medical payments (Med Pay) is
designed to pay medical bills, dental bills, and funeral expenses. In homeowners and
CGL policies med pay pays for injuries sustained by others, in auto it pays for injuries
sustained by insureds as well as passengers in the insured's auto.
✔✔mobile homeowners - ✔✔A policy equivalent in most respects to an HO-2 or HO-3
tailored to meet the needs of mobilehomeowners.
✔✔modified coverage form homeowners - ✔✔the HO-8
, ✔✔negligence - ✔✔quite often the basis of liability claims and is defined as: "The failure
to do or not do what a reasonable person would do or not do in the same or similar
circumstances."
✔✔occupy - ✔✔in automobile insurance simply means to be in or around a car. In
property policies occupying a building means that you and your property are in the
structure (dwelling or commercial building)
✔✔other structures - ✔✔in a property policy, other structures refer to buildings that are
not attached to a dwelling or the primary insured building. In a homeowners policy, a
detached garage and a tool shed would be two examples of other structures.
✔✔other than collision coverage - ✔✔the modern day version of comprehensive
coverage. It provides coverage for physical damage coverage caused to your car by
something other than a collision with another car or stationary object. Ex: theft, contact
with bird or animal, flood or glass breakage, plus any other accidental loss not caused
by a collision with another car or stationary object.
✔✔personal articles floater - ✔✔coverage available under an inland marine policy for
certain items that need more coverage or coverage for more perils that could be
obtained under a homeowners policy. Types of items might be furs, cameras, jewelry,
and collections
✔✔personal automobile policy - ✔✔a policy purchased to provide coverage on the
named insured's auto or on any auto being operated the named insured or any insured
family member. A personal automobile policy contains liability coverage plus it may or
may not contain property coverage for the car, medical payments coverage, and
uninsured/underinsured motorist coverage
✔✔personal injury liability - ✔✔under a commercial general liability policy, personal
injury liability refers to damage to an individual's reputation
✔✔personal liability policy - ✔✔another name for section II of a homeowners policy
✔✔personal property - ✔✔sometimes referred to as contents, personal property is that
property covered under a homeowners policy that can be easily moved. Ex: clothing,
furniture and dishes. Personal property is covered in many locations including your
home, in your garage, in your shed, or in your possession.
✔✔pollutant clean-up - ✔✔the portion of the CGL and other liability policies which
covers necessary pollution clean-up
✔✔reasonable repairs - ✔✔the company will pay for reasonable repairs made by the
insured to protect the property from further damage following a covered loss.
