Coverages and Limits: DP
Both of these coverage types' limit are 20% of Coverage A.
What is Cov. D (Fair Rental Value) and Cov. E (Additional Living Expense)?
The Glass or Safety Glazing AC provides coverage for glass/safety glazing under this coverage.
What is Cov. A?
The HO Schedule Personal Property Endorsement covers scheduled items on this type of coverage basis.
What is Open Peril Coverage?
This is the limit for Cov. E (liability).
What is $100,000 per occurrence for BI and PD?
J has a house with a RC of $100,000. He carries insurance with a $70,000 limit. Assuming he has a coinsurance requirement of 80%, how much will his policy pay for a covered loss of $45,000?
What is $39,375?
This is the covearge limit T has for Cov. B if T has a Cov. A limit of $500,000.
What is $50,000? (10% of Cov. A limit)
These six additional coverages are available on all forms of the Dwelling Policy.
What are Debris Removal, Reasonable Repairs, Property Removed, Improvements/Repairs/Alterations, Worldwide Coverage & Fire Department Service Charge?
Under the Automatic Increase of Insurance Endorsement, the limit for Real Property is increased annually by __%, __% or __%.
What is 4%, 6% or 8%?
Under Cov. F, this is the statute of limitations.
What is 3 years?
D has two HO-3 policies. The first policy has a Cov. A limit of $100,000 and the second has a Cov. A limit of $100,000. After a covered loss, there is damage to his home of $40,000. Based on Pro Rata, how much will each policy pay under Cov. A?
What is $20,000 for each policy?
(Do Pro Rata: limit of each policy over total limit of $250,000, times loss.)
The DP-3 Special form has Replacement Cost as the valuation type for all coverages except:
What is Cov. C (ACV)?
Bonus: D and E -- 20% of Cov. A
Included on all HO policies except the HO-8, the Grave Markers/Headstones Additional Coverage will pay a maximum of this much.
What is $5,000?
Under the Dwelling Under Construction Endorsement, the coverage limit is a percentage of Cov. A in proportion to this valuation type of the property at the date of completion.
What is ACV?
H has an HO-3 with a Cov. A limit of $75,000. A lightning strike damages the garage attached to his house, causing damages of $8,000. How much will his policy pay for the barn under Cov. B?
P's house has a replacement cost of $500,000. He carries insurance in the amount of $200,000. The limb of a big tree falls onto P's roof, causing damage of $65,000. How much will P's policy pay for the loss assuming a coinsurance requirement of 80%?
What is $32,500?
D is temporarily out of the house he lives in/rents to others due to repairs following a covered claim. This is the maximum amount that D has under his policy for Additional Living Expenses if his Cov. A limit is $250,000.
What is $50,000? (20% of Cov. A)
The Trees, Shrubs and Other Plants additional coverage for the DP-2, DP-3 and HO policies will pay up to _____ each with a max of ____ of Cov. A for any tree/shrub/plant when damaged by a covered peril.
What is $500 for each plant with a max of 5% of Cov. A?
The Personal Property Replacement Cost HO Endorsement does not apply to these three item types.
What are antiques, fine arts, money/gold?
What is the limit C has on her H)-5 policy for Coverages B, C and D if she has a Cov. A limit of $80,000?
What is $8,000 for B (10% of A), $40,000 for C (50% of A) and $24,000 for D (30% of A)?
J's house has a replacement cost of $600,000. She carries insurance in the amount of $350,000. After a covered peril, there is damage to the house in the amount of $72,040. How much will J's policy pay for the loss assuming a coinsurance requirement of 80%?
What is $52,529.17?
L has a DP-2 with a Cov. A limit of $350,000. These are the valuation types they have available for Coverages A, B and C; additionally, these are the limits they have for Coverages B, D and E.
What are RC, RC and ACV;
What are: B - $35,000 (10% of A); D and E - $70,000 (20% of A)
M has a DP-3 policy with a Cov. C limit of $50,000. Under the Worldwide Coverage Endorsement, this the maximum that M's policy will pay for damage to his Personal Property anywhere in the world.
What is $5,000?
Under Supplementary Payments, Damage to Property of Others will pay up to this dollar limit.
What is $500?
X has an HO-6 with a Cov. A limit of $100,000 and a Cov C limit of $10,000. She out of her condo while it is being repaired following a covered claim. This is the limit that X's policy will pay while X stays in a hotel.
What is $5,000? (50% of Cov. C)
K has two HO policies. Policy 1 has a Cov. A limit of $150,000 and Policy 2 has a Cov. B limit of $200,000. K suffers a covered loss of $70,000. Under Pro Rata, how much will each policy pay for the loss?
What is $30,000 for Policy 1 and $40,000 for Policy 2?