Review of Homeowners Insurance Coverages SELF DIRECTED FINAL EXAM (CT 6000112039)

A ____________ is something that increases the likelihood and/or the severity of a loss.

Which of the following would not fall under Coverage A – Dwelling coverage in the HO-3 Special Form Policy?

Under the HO-3 Special Form Policy, theft in or to a home under construction, or of the supplies and materials used in the construction, is ___________ until construction is complete.

Damage caused by _____________ to Coverage C – Personal Property, while contained inside a building, is covered only if the outside wall or roof is first damaged.

Of all the property policy types, this type of policy offers the broadest coverage available.

Unless otherwise noted in the policy, if two (2) or more deductibles apply to the same loss, _____________ deductible(s) must be satisfied in the HO-3 Special Form Policy.

Under the HO-3 Special Form Policy, _____________ provides Liability Coverage for the insured if a claim is made, or suit brought, against the insured for bodily injury or property damage caused by a covered occurrence.

The cost to defend an insured in a lawsuit, including expenses incurred by the insured, and the costs taxed against an insured in the case, fall under which Additional Coverage of Section II of the HO-3 Special Form Policy?

The property exposures that tenants have are any _________________ that the tenants have made in the dwelling itself.

This type of risk exists when there are only two possible outcomes.

The Liability Coverages under Section II of the HO-4 Renters Policy __________ those coverages found in the HO-3 Special Form Policy.

A Basic Perils Policy provides __________coverage of the standard Homeowners Policies.

Under the HO-6 Condo Owners Policy, the limit of liability for Coverage D is ___________ of the Coverage C Limit.

The construction type that consists of exterior walls, wood, or other combustible materials, on combustible supports is:

These can be added to a Homeowners Policy to meet the needs of underwriting requirements of the insurer, meet state requirements, or to meet the needs of an insured.

The Homeowners Form, the Declarations Page, and ____________ make up the Mobile Home Policy.

An example of this type of liability insurance would be Errors and Omissions insurance obtained by an accountant or attorney.

The Farmers Personal Liability Endorsement (HO-24-73), when added to a Homeowners Policy, provides coverage for the liability exposure arising out of _______________ conducted away from the residence premises.

These plans were established to provide access to insurance for insureds in coastal areas at high risk of heavy windstorm losses.

Which coverage also includes materials and supplies located on the residence premises, or adjacent to it, which are for use in construction, alteration, or repair of the dwelling?

To receive _____________ settlement on Coverages A, B, and C, a homeowner should obtain an HO-3 Special Form Policy and an HO-15 Endorsement.

With this type of loss exposure management, the individual assumes the entire financial impact of a loss.

The purchase of a(n) ______________ is often the largest investment an consumer will ever make.

Which of the following elements is not a required element to establish negligence?

Claims under Property Damage Liability can be evaluated __________ objectively than claims under Bodily Injury.