Exam 20: Homeowners Insurance,section I

Darla purchased an unendorsed Homeowners 3 policy.While the policy was in force,a fire occurred that destroyed a living room set.The living room set cost $4,000 new,but was 25 percent depreciated when the loss occurred.Replacement furniture will cost $4,400.Assuming no deductible,how much will Darla receive from her insurer?

All of the following are covered under the dwelling coverage (Coverage A.any structure attached to the dwelling.

Mike and Susan built their "dream home." They insured their home for its full replacement cost.They also added an endorsement that will pay up to an additional 20 percent of the policy limit in case the cost of rebuilding the home after a loss is greater than the policy limit.The basis under which Mike and Susan insured their home is called

Shauna purchased a condominium unit.Which homeowners policy is specially designed for condominium unit owners?

Which of the following statements about covered perils under the personal property coverage (Coverage C.of the Homeowners 3 policy is true?

Which of the following is a covered peril under the personal property coverage (Coverage C.of an unendorsed Homeowners 3 policy?

Under the Homeowners 3 policy,all of the following are options of the insurer for settling claims EXCEPT

Which of the following property is covered under the personal property coverage (Coverage C.of the Homeowners 3 policy?

Which of the following statements about the appraisal clause in the Homeowners 3 policy is (are)true? I.It is used to determine a value for personal property when the policy is issued. II.It is used to help settle disputes over the amount of a loss after a loss has occurred.

Persons insured under Section I of the Homeowners 3 policy include which of the following? I.A spouse of the named insured if living in the same household II.The named insured's children who are under age 24 and who are full-time college students

Brian purchased an unendorsed Homeowners 3 policy.Under the policy,Brian's detached garage is also covered.Which of the following statements regarding coverage on the garage is true?

Which of the following statements about the replacement cost provision of the Homeowners 3 policy is true?

Michelle had four matching end tables in her home.A fire damaged the home,destroying two of the end tables.Michelle's home was covered by an unendorsed Homeowners 3 policy.Which of the following is true with regard to the settlement for the end tables in this case?

Which of the following statements about coverage for loss of use (Coverage D.under the Homeowners 3 policy is true?

Which of the following is an additional coverage provided under Section I of the Homeowners 3 policy?

All of the following are duties of the mortgagee under the standard mortgage clause EXCEPT

A fire destroyed the home next door to Brad's home.The fire department chief was concerned that the damaged home would collapse on to Brad's home,so he ordered Brad to evacuate his home.Which of the following statements is true concerning the cost of Brad's hotel room while he is complying with the fire chief's order?

David has a Homeowners 3 policy that provides $280,000 of insurance on his dwelling,which has a current replacement value of $400,000.Ignoring any deductible,how much will David collect if a kitchen with a replacement value of $24,000 but an actual cash value of $18,000 is destroyed in a fire?

Which of the following statements is (are)true regarding renters insurance? I.Renters insurance is needed if you rent a house,but is not needed if you rent an apartment. II.The ISO renter's policy provides open perils ("all-risks")coverage on the insured's personal property.

Which of the following types of water damage is covered under an unendorsed Homeowners 3 policy?