Fire independent policy - Study guides, Class notes & Summaries

Select the false statement listed below: In the HO-3 policy, the ALE payments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE payments can run beyond the expiration of the policy. D. ALE payments are limited to incurred costs for the sh...

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State Farm Fire Independent Policy Exam| Questions and Answers, 100% Verified| Select the false statement listed below: In the HO-3 policy, the ALE payments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE payments can run beyond the...

State Farm Fire Independent Policy Exam 2025 update with all correct answers An HO-3 homeowners policy with a $250 deductible is in force and the policy limits (Coverage A and Coverage B) are adequate to cover this damage. During a severe windstorm, rain blows through open windows and causes the following damage: Hardwood floor in the dining room $1,700 Water stains on the drywall $ 220 Water stains on the area rug $125 Antique vase (broken by force of wind) $375 How much should you pay on...

State Farm Fire Independent Policy Exam questions and answers ( A+ GRADED 100% VERIFIED) State Farm Fire Independent Policy Exam questions and answers ( A+ GRADED 100% VERIFIED) State Farm Fire Independent Policy Exam questions and answers ( A+ GRADED 100% VERIFIED)

Select the false statement listed below: In the HO-3 policy, the ALE payments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for the insured to relocate in permanent living quarters, but not to exceed 24 months. C. ALE payments can run beyond the expiration of the policy. D. ALE payments are limited to incurred costs for the...

State Farm Fire Independent Policy Exam 2025 final update with correct questions and correct answers An HO-3 homeowners policy with a $250 deductible is in force and the policy limits (Coverage A and Coverage B) are adequate to cover this damage. During a severe windstorm, rain blows through open windows and causes the following damage: Hardwood floor in the dining room $1,700 Water stains on the drywall $ 220 Water stains on the area rug $125 Antique vase (broken by force of wind) $375 Ho...

State farm fire independent policy EXAM QUESTIONS AND CORRECT DETAILED ANSWERS | EVERYTHING YOU NEED TO PASS with A+ Which of the following statements can apply to Debris Removal Coverage in the HO-3 policy? Select the single best answer: A. Pay up to $500 in the aggregate for each loss to cover the reasonable expenses incurred in the removal of tree debris from the residence premises when the tree has caused a loss insured to Coverage A property.