Exam 10: Homeowners Insurance

The issue of who is a resident of the household,and thus an "insured" under the HO policy,has been litigated many times. Which of the following is a key factor that most courts consider when determining residence?

Which of the following is excluded by the HO-2 Form?

Medical Payments coverage in the HO-2 policy covers all of the following except:

The replacement cost of a home covered under the HO-2 policy is $100,000.Assume the home is insured for $50,000 and a $10,000 loss occurs (replacement cost). Also assume depreciation is set at 10% and a $500 deductible applies. How much will the insured recover if the damage is repaired?

Margo has a $100,000 home. She has it insured by four different insurers,each providing the following amount of coverage: Insurer A: $10,000 Insurer B: $20,000 Insurer C: $30,000 Insurer D: $40,000. A $20,000 loss occurs. Under a pro-rata distribution other insurance clause Company B will pay:

Britney and Kevin were painting their backyard fence with a spray gun. A strong gust of wind blew paint on the neighbor's house. The neighbor sued them for all the clean-up costs. Which of the following is true about Britney and Kevin's HO policy?

In homeowner's insurance,coinsurance is:

Ira is a homeowner covered by an HO-2 policy. He lives with his wife and three children,ages 14,16,and 19. Who in the household is not covered for personal liability by the HO policy?

All of the following losses are covered in an HO-2 policy except:

The replacement cost of a home covered under the HO-2 policy is $100,000. Assume the home is insured for $50,000 and a $10,000 loss occurs (replacement cost). Also assume depreciation is set at 10 percent. Assume that there is no deductible.How much will the insured recover if repaired?

All of the following are available under the HO-2 contract except: