State Farm Property Prep Exam
Questions And All Complete Solutions.
collapse - Answer coverage involving a building, or any part of the it suddenly falling into pieces or
entirely falling down
must be directly caused by
- perils described in section 1 losses insures, and coverage b personal property
- hidden decay
- hidden insect damage
- weight of contents, equipment, animals, or people
- weight of ice, snow, or rain collected on roof
use of defective material or methods in the construction of the building
accidental direct physical loss contract - Answer loss caused by perils covered under the policy
language
Principle of Indemnity - Answer The insurer agrees to pay no more than the actual amount of the loss
Declarations Page - Answer The basic information about a policy:
Who - names of insurer and insured, policy number
What - description of insured property
Where - address and legal description of insured property
When - effective and expiration dates.
How Much - Dollar amounts of limits of coverage, deductible, premium
Named Insured - Answer The individual(s) whose name appears on the policy's declaration.
Insured - Answer a person whose interests are protected by an insurance policy
, policy holder and anyone living in household
Residence Premises - Answer The place where the insured resides as identified in the policy
declarations.
Primary dwelling of policy holder
Can include up to a four family dwelling
Lines of Coverage FP-7955
Coverage A
Coverage B
Coverage C
Add. - Answer Dwelling
Personal Property
Loss of Use
Additional Coverages
Coverage A - Answer Dwelling.
-attached structures.
- materials and supplies located on the residence for use in the construction or repair of dwelling
- foundation, floor slab, and footings supporting dwelling
- wall to wall carpeting attached
some examples of coverage a - Answer porches
an antennae attaches to roof
microwave installed in cabinet above stove
in ground sprinkles system
Questions And All Complete Solutions.
collapse - Answer coverage involving a building, or any part of the it suddenly falling into pieces or
entirely falling down
must be directly caused by
- perils described in section 1 losses insures, and coverage b personal property
- hidden decay
- hidden insect damage
- weight of contents, equipment, animals, or people
- weight of ice, snow, or rain collected on roof
use of defective material or methods in the construction of the building
accidental direct physical loss contract - Answer loss caused by perils covered under the policy
language
Principle of Indemnity - Answer The insurer agrees to pay no more than the actual amount of the loss
Declarations Page - Answer The basic information about a policy:
Who - names of insurer and insured, policy number
What - description of insured property
Where - address and legal description of insured property
When - effective and expiration dates.
How Much - Dollar amounts of limits of coverage, deductible, premium
Named Insured - Answer The individual(s) whose name appears on the policy's declaration.
Insured - Answer a person whose interests are protected by an insurance policy
, policy holder and anyone living in household
Residence Premises - Answer The place where the insured resides as identified in the policy
declarations.
Primary dwelling of policy holder
Can include up to a four family dwelling
Lines of Coverage FP-7955
Coverage A
Coverage B
Coverage C
Add. - Answer Dwelling
Personal Property
Loss of Use
Additional Coverages
Coverage A - Answer Dwelling.
-attached structures.
- materials and supplies located on the residence for use in the construction or repair of dwelling
- foundation, floor slab, and footings supporting dwelling
- wall to wall carpeting attached
some examples of coverage a - Answer porches
an antennae attaches to roof
microwave installed in cabinet above stove
in ground sprinkles system
