Exam 50: Insurance

An owner of real property or a mortgagee pays only one premium for title insurance, usually at closing.

Which of the following statements is true of a personal articles floater?

Give an account of the no-fault automobile liability insurance.

An insurance contract is called a policy.

The uninsured motorist coverage only covers when the accident is an insured's fault.

What kind of insurance can help restore Matheson's car after it has been damaged by the hurricane?

Insurance coverage is typically suspended during grace periods for payments.

A workers' compensation insurance allows an employee to sue the employer along with claiming the insurance coverage.

An automobile insurance with the omnibus clause is called an umbrella insurance policy.

For a life insurance, insurable interest is necessary at the time of loss.

For a life insurance, the owner and beneficiary cannot be the same person.

An employee of a company that provides ________ insurance to its employees can receive payments, as provided by the policy, for injuries suffered by employees while working on the job.

A(n) ________ is a comprehensive insurance policy that includes coverage for the risks covered by a fire insurance policy as well as personal liability insurance.

Able Adams has a number of rare paintings at home that he inherited from his paternal family, many of whom were patrons and collectors of art. Able knows that the value of these paintings makes them likely targets of theft and he needs to insure these items specifically by using a ________.

Which of the following statements is true of umbrella insurance?

An insurer will issue an umbrella policy only if a stipulated minimum amount of basic coverage on other insurance policies has been purchased by the insured.

Insurance policies can only be sold by direct agents of an insurer.

What kind of insurance would protect Lucy from being sued by the injured employees for this damage?

What kind of insurance provides such coverage?

A personal articles floater helps insure specific items of value.