Renters insurance - 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...

multi-line policies - Answer HO policies are _ which mean they combine property and casualty coverages in the same policy. it packages several coverages related to a specific type of exposure, and it reduces the number of policies one has to purchase. personal package policy - Answer HO insurance is sold as a _ designed to cover a broad range of exposures related to owning and renting a part of a home. theft insurance and personal liability coverage under one contract - Answer the HO insur...

WYO Program - Answer "Write your own" insurers write the coverage on their own "paper" but the NFIP reinsures 100% of the coverage Wait period for policy to become effective - Answer 30 days, this is done to avoid panic buying before disasters strike Standard Flood Insurance Policy (SFIP) - Answer Defines coverage, limits , and exclusions for NFIP flood Insurance policies with terms and conditions unique to the NFIP - NFIP insurers can ONLY use the SFIP How to cancel a policy - Ans...

Wise Test Questions and Answers 100% Pass If a person earns $36,000 annually, owns assets worth $156,000, and has liabilities totaling $85,000, what is their net worth? Their net worth is $71,000. (Net Worth = Assets - Liabilities) When evaluating renters insurance, what should be understood about its purpose? It is designed to protect against financial losses from incidents like fire, theft, and personal injuries. (Renters insurance is meant to cover financial losses related to the...

California Personal Lines Broker Test Latest Version Graded A+ What is the primary purpose of personal lines insurance? The primary purpose of personal lines insurance is to provide coverage for individuals' personal property and liabilities, such as auto, home, and renters insurance. What type of coverage is typically included in a standard homeowners insurance policy? A standard homeowners insurance policy typically includes coverage for property damage, personal liability, and a...

It is important to make them feel __________ and __________ - Correct answercomfortable and welcomed __________ prompt someone to explore and analyze their emotions and feelings - Correct answer-Open-ended question __________ collect factual information - Correct answer-Closed-ended question Give __________ for responses time - Correct answer-time Questions should be asked in a ___________________________ way - Correct answer-non-judgmental It is important to ________________ your mentor...

Property and Casualty Insurance KYAll of the following are casualty coverages EXCEPT A. Auto Insurance B. Fidelity and Surety Bonds C. Ocean Marine insurance D. Crime Insurance - correct answer C. Ocean Marine Insurance Which of the following describes the major responsibilities of an insurance company's claims department? A. Uses company standards and experience to determine whether or not to accept an application for insurance. B. Inspects losses, determines if there is coverage, est...

KY Study Set - Property & CasualtyAll of the following are casualty coverages EXCEPT A. Auto Insurance B. Fidelity and Surety Bonds C. Ocean Marine insurance D. Crime Insurance - correct answer C. Ocean Marine Insurance Which of the following describes the major responsibilities of an insurance company's claims department? A. Uses company standards and experience to determine whether or not to accept an application for insurance. B. Inspects losses, determines if there is coverage, est...

Property and Casualty Insurance KYAll of the following are casualty coverages EXCEPT A. Auto Insurance B. Fidelity and Surety Bonds C. Ocean Marine insurance D. Crime Insurance - correct answer C. Ocean Marine Insurance Which of the following describes the major responsibilities of an insurance company's claims department? A. Uses company standards and experience to determine whether or not to accept an application for insurance. B. Inspects losses, determines if there is coverage, est...

KY Study Set - Property & Casualty All of the following are casualty coverages EXCEPT A. Auto Insurance B. Fidelity and Surety Bonds C. Ocean Marine insurance D. Crime Insurance - correct answer C. Ocean Marine Insurance Which of the following describes the major responsibilities of an insurance company's claims department? A. Uses company standards and experience to determine whether or not to accept an application for insurance. B. Inspects losses, determines if there is coverage, e...