Insurance Adjuster Mississippi
Home Owner Coverage A - Answer-Insurance company provides coverage for the dwelling as well as
any structures that are ATTACHED to the dwelling and includes materials used to repair the dwelling
that are on the premises. Insured has to have at least 80% of the value of home insured.
Home Owner Coverage B - Answer-Coverage for any structures that are not directly attached to
dwelling, does not apply to a small business. Will only pay up to a maximum of 10% of the coverage
amount for Coverage A. Does not reduce coverage amount for Coverage A if used.
Example: $200,000 limit on Coverage A, will pay a maximum of $20,000 for Coverage B.
Home Owner Coverage C - Answer-Applies to personal Property regardless of where it is located.
Usually will not cover items that have their own specific policy including cars, airplanes etc.
Home Owner Coverage D - Answer-Loss of use coverage, if dwelling becomes unfit for living in due to
covered loss, insurance company will pay either the additional living expenses or fair rental value.
Home Owner Debris removal - Answer-Usually included, pays for reasonable expense for the removal of
debris from a property if it was caused by a covered loss.
, Perils covered by Home owners Coverage A&B - Answer-Only provides coverage for direct loss to
property. Does not cover collapse, pipes freezing, leaking or sewage backup if the building is vacant for
more than 30 days. Does not cover stolen building materials in dwelling under construction.
Perils covered by home owners coverage C - Answer-Typically covers any direct physical loss to property
caused by fire, lightning, windstorm and hail. But not rain, sleet, snow, sand or dust unless it enters
through a hole caused by wind or hail. Also covers losses due to explosion, riots, vandalism and smoke
damage caused by industrial operations.
Will also cover losses caused by theft unless the theft was from a building under constructions.
Home Owner Policy Exclusions - Answer-Earthquakes, water damage from flooding, power failure,
neglect, war
Conditions of homeowner policies - Answer-Insurance will only pay up to the limit of liability. Insured
must immediately notify the insurance company of the loss and if necessary, should make all reasonable
repairs and maintain records of them.
Home Owner appraisal - Answer-If insured and insurance company disagree on the value of loss, either
side can request an appraisal. Both sides then select an appraiser, who will then choose an umpire. At
this time, each appraiser estimates the loss value. If both appraisers agree on value, its settled otherwise
the umpire will decide which amount is correct.
Each party is responsible for paying for their appraiser and splits the cost of umpire.
Home owner coverage E - Answer-Applies to personal liability, covers a lawsuit against the insured
because of injury or property damage caused by covered loss to other individual while on insureds
property. Includes lawyer fees for insured.
Home Owner Coverage A - Answer-Insurance company provides coverage for the dwelling as well as
any structures that are ATTACHED to the dwelling and includes materials used to repair the dwelling
that are on the premises. Insured has to have at least 80% of the value of home insured.
Home Owner Coverage B - Answer-Coverage for any structures that are not directly attached to
dwelling, does not apply to a small business. Will only pay up to a maximum of 10% of the coverage
amount for Coverage A. Does not reduce coverage amount for Coverage A if used.
Example: $200,000 limit on Coverage A, will pay a maximum of $20,000 for Coverage B.
Home Owner Coverage C - Answer-Applies to personal Property regardless of where it is located.
Usually will not cover items that have their own specific policy including cars, airplanes etc.
Home Owner Coverage D - Answer-Loss of use coverage, if dwelling becomes unfit for living in due to
covered loss, insurance company will pay either the additional living expenses or fair rental value.
Home Owner Debris removal - Answer-Usually included, pays for reasonable expense for the removal of
debris from a property if it was caused by a covered loss.
, Perils covered by Home owners Coverage A&B - Answer-Only provides coverage for direct loss to
property. Does not cover collapse, pipes freezing, leaking or sewage backup if the building is vacant for
more than 30 days. Does not cover stolen building materials in dwelling under construction.
Perils covered by home owners coverage C - Answer-Typically covers any direct physical loss to property
caused by fire, lightning, windstorm and hail. But not rain, sleet, snow, sand or dust unless it enters
through a hole caused by wind or hail. Also covers losses due to explosion, riots, vandalism and smoke
damage caused by industrial operations.
Will also cover losses caused by theft unless the theft was from a building under constructions.
Home Owner Policy Exclusions - Answer-Earthquakes, water damage from flooding, power failure,
neglect, war
Conditions of homeowner policies - Answer-Insurance will only pay up to the limit of liability. Insured
must immediately notify the insurance company of the loss and if necessary, should make all reasonable
repairs and maintain records of them.
Home Owner appraisal - Answer-If insured and insurance company disagree on the value of loss, either
side can request an appraisal. Both sides then select an appraiser, who will then choose an umpire. At
this time, each appraiser estimates the loss value. If both appraisers agree on value, its settled otherwise
the umpire will decide which amount is correct.
Each party is responsible for paying for their appraiser and splits the cost of umpire.
Home owner coverage E - Answer-Applies to personal liability, covers a lawsuit against the insured
because of injury or property damage caused by covered loss to other individual while on insureds
property. Includes lawyer fees for insured.
