1 Exampromax - Stuvia US
CIC Personal Lines - Residential Questions and
Answers 100% Correct Answers Already
Graded A+
Q: Homeowners "Insured"
Ans: - You
- Residents who are:
a) Relatives
b) <21 and in your care
-Full time student:
a) <24 and relative
Exampromax - Stuvia US
b) <21 and in your care
Q: Coverage B - What's Covered?
Ans: Other Structures
- Things on residence premises not attached to building, or connected only by
fence, wire, wall
- Not for business use
- Not rented,unless only as a garage
Q: Perils Not Insured by HO-3 for A and B
Ans: - Collapse
- Freezing of plumbing, due to neglect
- Freezing/weight of water on pool, fences, patio
- Theft in residence under construction
- Vandalism if vacant > 60 days
- Mold unless hidden and resulting from accidental overflow of water
- Wear and tear
- Smoke from industry
- Pollution
- Settling, cracking, bulging of floors
- Birds, rodents, insects
- Nesting/infestation/waste of animals
- Animals owned/kept by insured
* BUT all ensuing water damage is covered
Q: Homeowners "Business" Exceptions
, 2 Exampromax - Stuvia US
Ans: 1. Make < $2000/year
2. Volunteer Activities
3. Home day care, but no $ earned
4. Home day care, with $ earned, for relatives
Q: Homeowners Coverage D
Ans: Loss of Use
1. Additional Living Expense
- necessary increase to maintain normal standard of living
2. Fair Rental Value
3. Civil Authority - if they prohibit use of premises due to damage to neighboring
premises (up to 2 weeks)
Amount: 30% of A (if the reason is a covered loss)
Exampromax - Stuvia US
Q: HO-3 vs HO-5
Ans: HO-3: Dwelling/Structures: Open Perils
Personal Property: Named Perils
HO-5: Dwelling/Structures: Open Perils
Personal Property: Open Perils
(often used w/ wealthy houses)
Q: Homeowner's Additional Coverages
Ans: 1.Debris Removal
-up to 5% of C
- also $500/tree, $1000/total
2. Reasonable Repairs
-ex. buying tarp to prevent further damage from hole in roof
3.Trees/Shrubs/Plants/Lawn
-5% of A, max $500/plant
- fire, theft, vandalism, aircraft
4. Property removed to protect from damage
5. Credit cards - $500 for loss resulting from theft
6.Loss Assessment
- H.O.A. splitting cost to each household, <$1000
7.Collapse: abrupt
8. Glass
9. Landlord's furnishings
10.Ordiance/Law: 10% of A
11. Grave markers, $5000
CIC Personal Lines - Residential Questions and
Answers 100% Correct Answers Already
Graded A+
Q: Homeowners "Insured"
Ans: - You
- Residents who are:
a) Relatives
b) <21 and in your care
-Full time student:
a) <24 and relative
Exampromax - Stuvia US
b) <21 and in your care
Q: Coverage B - What's Covered?
Ans: Other Structures
- Things on residence premises not attached to building, or connected only by
fence, wire, wall
- Not for business use
- Not rented,unless only as a garage
Q: Perils Not Insured by HO-3 for A and B
Ans: - Collapse
- Freezing of plumbing, due to neglect
- Freezing/weight of water on pool, fences, patio
- Theft in residence under construction
- Vandalism if vacant > 60 days
- Mold unless hidden and resulting from accidental overflow of water
- Wear and tear
- Smoke from industry
- Pollution
- Settling, cracking, bulging of floors
- Birds, rodents, insects
- Nesting/infestation/waste of animals
- Animals owned/kept by insured
* BUT all ensuing water damage is covered
Q: Homeowners "Business" Exceptions
, 2 Exampromax - Stuvia US
Ans: 1. Make < $2000/year
2. Volunteer Activities
3. Home day care, but no $ earned
4. Home day care, with $ earned, for relatives
Q: Homeowners Coverage D
Ans: Loss of Use
1. Additional Living Expense
- necessary increase to maintain normal standard of living
2. Fair Rental Value
3. Civil Authority - if they prohibit use of premises due to damage to neighboring
premises (up to 2 weeks)
Amount: 30% of A (if the reason is a covered loss)
Exampromax - Stuvia US
Q: HO-3 vs HO-5
Ans: HO-3: Dwelling/Structures: Open Perils
Personal Property: Named Perils
HO-5: Dwelling/Structures: Open Perils
Personal Property: Open Perils
(often used w/ wealthy houses)
Q: Homeowner's Additional Coverages
Ans: 1.Debris Removal
-up to 5% of C
- also $500/tree, $1000/total
2. Reasonable Repairs
-ex. buying tarp to prevent further damage from hole in roof
3.Trees/Shrubs/Plants/Lawn
-5% of A, max $500/plant
- fire, theft, vandalism, aircraft
4. Property removed to protect from damage
5. Credit cards - $500 for loss resulting from theft
6.Loss Assessment
- H.O.A. splitting cost to each household, <$1000
7.Collapse: abrupt
8. Glass
9. Landlord's furnishings
10.Ordiance/Law: 10% of A
11. Grave markers, $5000
