Homeowners insured - Study guides, Class notes & Summaries

What is an eligible building for flood insurance?: A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community What is Builders Risk Coverage?: Covers buildings in the course of completion. Proper coverage is 100% of expected completed value Do all Homeowners policies contain Coverage A?: No, HO-4 (Renters person- al property) What is casual labor in workers' compen...

NC ADJUSTER LICENSE PRACTICE EXAM 2024/2025 QUESTIONS WITH CORRECT ANSWERS ALREADY PASSED AND VERIFIED Manny is purchasing a Commercial Property policy with a Business Income form included. Manny can select from any of the following as a method to provide coverage, while avoiding the coinsurance requirement, EXCEPT: - CORRECT ANSWER The maximum monthly limit of indemnity optional coverage The traditional definition of actual cash value (ACV) is: - CORRECT ANSWER Replacement cost min...

Florida Personal Lines Exam Questions and Answers 100% VerifiedFlorida Personal Lines Exam Questions and Answers 100% VerifiedFlorida Personal Lines Exam Questions and Answers 100% VerifiedFlorida Personal Lines Exam Questions and Answers 100% Verified Under Part A of a Personal Auto Policy, which of the following losses would be covered? A.) Damage to property being transported by the insured B.) Damage to a neighbor's parked car C.) Damage to a neighbor's lawn mower in the care of ...

state farm property exam (Mamas Test)| Answered 100% Correctly| Updated under an FP-7955 policy, deductibles apply to which of the following types of losses. B. Fire department service charges in the FP-7955 policy, Coverage C consists of three coverages: 1. Additional Living Expense, 2. Fair Rental Value and 3. Property Removed. True or False? B. False Jennifer Marco has a FP-7955 policy with coverage B limit of $75,000, a $500 deductible and no option AI, ID, FA, or JF. Which of the foll...

Florida Insurance 20-44 Exam Study Questions and Answers 100% CorrectFlorida Insurance 20-44 Exam Study Questions and Answers 100% CorrectFlorida Insurance 20-44 Exam Study Questions and Answers 100% CorrectFlorida Insurance 20-44 Exam Study Questions and Answers 100% Correct insurance - ANSWER-________________ is a contract whereby one undertakes to indemnify another or pay or allow a specified amount or a determinable benefit upon determinable contingencies. casualty - ANSWER-_____________...

Connecticut Casualty Adjuster for All Lines Questions and Answers Already Passed Which of the following professional liability policies would also cover bodily injury damages? Architects and Engineers E&O Insurance agents E&O Lawyers E&O Fiduciary Legal Liability Architects and Engineers E&O A person, firm, or corporation that, for compensation, acts on behalf of an insured in negotiating the settlement of certain claims for loss or damage to property is known as a/an: independent adjuster spe...

under an FP-7955 policy, deductibles apply to which of the following types of losses. - Answer- B. Fire department service charges in the FP-7955 policy, Coverage C consists of three coverages: 1. Additional Living Expense, 2. Fair Rental Value and 3. Property Removed. True or False? - Answer- B. False Jennifer Marco has a FP-7955 policy with coverage B limit of $75,000, a $500 deductible and no option AI, ID, FA, or JF. Which of the following statements is true concerning her personal pro...

Driver A has a personal auto policy with Part C: UM/UIM limits of 100/300. He is injured by Driver B who has Part A: Bodily Injury Liability limits of 50/100. It is determined that Driver B is at fault for the accident. Driver A has $125,000 in medical expenses. How much will his Part C: UM/UIM coverage pay? a) $125,000 b) $75,000 c) $50,000 d) $25,000 CORRECT ANSWER c) $50,000 Underinsured motorist coverage acts as excess over the at-fault motorist's coverage. It will pay the d...

New York Adjuster Exam Questions with 100% correct Answers 2023 The insured has moved into a dwelling that was being build and was covered by the "Dwelling under Construction" endorsement. How long does the insured have to report his / her occupancy to the insurance company? {{Correct Ans- 30 days When a New York Homeowners policy is still in the 60-day underwriting period, the insurer may cancel it for any reason by providing a ______ notice. {{Correct Ans- 30 day Personal property tha...

insurance - Answer- ________________ is a contract whereby one undertakes to indemnify another or pay or allow a specified amount or a determinable benefit upon determinable contingencies. casualty - Answer- ______________ insurance is insurance which pays on behalf of the insured's legal liability. liberalization - Answer- The ______________ provision broadens an insured's coverage without an increase in premium when the insurer has adopted a generic global policy revision. severabil...