Insurance Standards
What is the standard deductible for a renters and homeowners policy?
500 renters
1,000 homeowners
This endorsement is required on all policies
Replacement Cost
A home built before _____ would classify as masonry
1960
This form of heat uses heating coils for non motorized convection heating what are they?
Electric baseboard heaters
What does RCE stand for?
Replacement Cost Estimator
When writing a condo policy what is the amount of coverage needed for the dwelling?
20% of the purchase price.
What is the minimum amount of liability coverage on a homeowners policy.
300,000
_______ is used primarily in dry, mostly warm climates such as the Southwest.
Adobe
This heat system works by pumping heat into the home from the exterior into the interior or it can also pump heat from a room to the exterior of the home what is it?
Electric heat pump
__________ is a roofing material commonly used for buildings that feature a low sloped roof pitch.
Rolled Roofing or membrane
What is the required package to be added to all Travelers policies that are over 500k replacement cost?
Protect Premier
This endorsement protects customer in the event he or she is assessed a fee because of damage to common property.
Loss Assessment
In the earthquake-prone western part of the US, ______ has been dominant over stone and brick.
Wood Frame
Double Jeopardy
What are cooling units that can be placed in different rooms that will also remove heat from the room through the homes vent?
Portable air conditioners
Are you able to insure a home through travelers that is currently in probate?
Homes in probate are ineligible
The standard earthquake deductible is _____
10%
This coverage can be found on HO3, DP3, Ho6 and DP6
Coverage A the dwelling
The fiber cement siding is made from Portland cement mixed with ground sand, cellulose fiber, and other additives.
Cement Fiber Siding or HardiPlank
Units that use air from the exterior and water that runs through pads in it in order to lower the temperature of the air in the home is considered what type of cooling system?
Evaporative/swamp coolers
Liberty Mutual was John's prior carrier for the risk address, on his old policy. The new policy _______ be rewritten with Liberty Mutual
cannot
Double Jeopardy
_______Discount applies to home premium based on the number of days in advance a policyholder receives a quote for a policy.
10-17%
This endorsement should be added to all policies as it is the number one cause of loss today and continues to rise each year.
Water Sewer backup
________ is a decorative building material manufactured to replicate the look of natural stone.
Stone Veneer
What type of heating system heats water in an oil or gas furnace and runs it through the floor in order to heat up the home?
Radiant heat
In homesite modular homes _____ for the homeowners program (HO3)
qualify