Homeowners Policy
What is the insured location?
On an auto policy all incidental business use is allowed.
What is false?
An insurer can cancel for any reason as long as a reason is provided in writing.
What is true?
This is the minimum deductible for a flood policy under the regular program.
What is $1000
Standard and Poor's is an example of this?
Financial Rating Service
This coverage on an HO policy automatically determines coverages B-D off a set percentage.
What is Coverage A - Dwelling Coverage?
What is 14 days?
In the first 60 days of a policy, an insurer has the right to cancel for any other reason, besides non-payment within this many days.
What is 20 days?
This was designed to help people obtain property insurance. It provides property coverage for risks that are uninsurable through the private insurance market.
What is the FAIR plan?
What is Actual Cash Value?
This additional coverage provides up $1000 when an insured is required to share in part of a loss at their association.
What is Loss Assessment?
This coverage pays out the insured when another party is at fault but does not have liability coverage.
What is uninsured motorist?
A dune buggy can be added to an Auto policy with this type of endorsement.
What is Miscellaneous Type Vehicle Endorsement?
Vehicles, fences, and trees are not covered under this type of policy. Structures that are primarily containers are also excluded, but an exception is made for silos and grain storage buildings.
What is a flood policy?
Non-economic damages to the insured party is known as this type of damage.
This endorsement provides a basic aggregate amount of coverage at $10K with options to increase and can be used when the loss is caused by fungi.
What is the Limited Fungi, Wet or Dry Rot, Bacteria Coverage Endorsement?
After a loss has occurred, an insured only needs to submit a physical exam if they are at fault.
What is is false?
This coverage is provided in the event of loss involving a pothole which causes damage to an axle.
What is Collision?
Inland marine policies provide automatic coverage for newly acquired property for up to 30 days with a limit of 25% of current coverage or $10,000, whichever is greater. This property type, however, is NOT subject to that limitation.
What is Fine Art?
This type of document is proof that a policy has been written.
This Additional Coverage provides up to $1000 in coverage for property of others when the damage is caused by the insured.
What is Damage to the Property of Others?
For Limited Mexico Coverage, an insurer will provide coverage for this amount of miles outside the US Border.
What is 25 miles?
This type of coverage is provided to individuals who drive a borrowed car.
Losses that are excluded by the underlying policy but still covered by this type of policy are subject to the policy's retention limit.
What is Umbrella?
What is false?