Texas Property & Casualty Insurance, Insurance (With complete solution)

Which part of an insurance policy describes the responsibilities and obligations of both the insurance company and the insured under the policy? correct answers Conditions The limits of liability are found in which of the following sections of a casualty policy? correct answers Declarations The _____ page in an insurance contract contains information about the risk, the effective date of coverage, deductible, premium amounts, coinsurance percentage, and location of the insured property. correct answers Declarations The insured is looking for the amount of coverage in a property and casualty policy. This information would be found in the ______. correct answers declarations The coverages offered by an insurance policy are described in the ____. correct answers insuring agreement The purpose of the conditions section of an insurance policy is to list the ____ of the insured and the insurance company. correct answers obligations The list of perils covered under a policy is found in which part of the policy? correct answers Insuring agreement The Declarations page consists of 5 P's. Person or property, policy number, policy term, policy limit and ____. correct answers premium The Insuring agreement describes coverage provided and which ____ are covered. correct answers perils Lost rent is covered by _____. Limited by 20% of coverage A. correct answers Coverage D Under which of the dwelling forms may the insured be reimbursed for the replacement cost of a dwelling when it is destroyed? correct answers DP-2 and DP-3 The insured has a DP-3 covering a home that has a replacement value of $100,000. The insured carries $60,000 of insurance. Following a loss, it is determined that it would cost $12,000 to replace the damaged portion of the home. How much could the insured collect, assuming the ACV of the loss is $6,000? correct answers $9000 Damage to covered property caused by glass breakage is covered in ___. correct answers DP2 and DP3