Exam 10: Property and Motor Vehicle Insurance

Using a home security system is an example of ____________ risk.

Brett Johnson owns a home in Yukon, Oklahoma. A babysitter he hires breaks her leg when she trips over the dog. What part of his homeowner's insurance would cover this loss?

Which of the following would not be considered personal property under a typical homeowner's insurance policy?

Renter's insurance would include coverage for:

Your home insurance policy has a $250 deductible. If a small fire causes $600 damage to your home, what amount of the claim would the insurance company pay?

Your home insurance provides for replacement value for personal property losses. A microwave is stolen. It cost $300 two years ago and has an expected life of six years. A comparable microwave costs $400 today. What amount will the insurance company pay?

George and Dr. Martha Cooper rent a condominium in an area known for litigious residents and high cost judgments. George has an extensive stamp collection and Martha has expensive photographic equipment. What kind of insurance would you recommend for a couple in their living situation?

The process of establishing a monetary fund to cover the cost of a loss is called:

Kyle Burroughs left his car parked on the street all night. When he came out in the morning all four of his tires had been slashed by vandals. What part of Kyle's automobile insurance would cover this damage?

What type of personal liability coverage is also called a personal catastrophe policy?

Peter Jacobs has set aside $5,000 in case he has an accident in his 1980 Honda Civic. He does not have collision insurance on this car. How is Peter managing his risk?

The purpose of an assigned risk pool is to assist people with poor driving records in obtaining automobile insurance coverage.

Nick Rodr owns a home in Edmond, Oklahoma and pays $665 per year in insurance on the home. The $665 is an example of a:

Which one of the following is not covered by renter's insurance?

Medical payments coverage in a home insurance policy is designed to pay for legal action taken against a homeowner who may be legally responsible for injury or property damage of others.

The 100/300 amounts for bodily injury liability insurance refer to the costs of insurance coverage.

Property damage liability coverage would pay for damage to another vehicle for which you were at fault.

The most common method of dealing with risk is to shift, or transfer it to an insurance company or some other organization.

Medical payments automobile insurance coverage pays for the costs of injuries to persons in the driver's vehicle.

Which one of the following types of coverage would pay for damage to your automobile in an accident for which you were at fault?