Exam 13: Multirisk Management Contracts: Homeowners

Umbrella policies pay only after the limits of underlying coverage, such as auto or homeowners policy, have been exhausted.

Which of the following situations is covered under a homeowners policy?

Actual cash value is equal to the replacement cost only when depreciation is zero.

Write a short note on mold endorsement in a homeowners policy.

Which of the following is an alleged practice of insurers charging higher premiums and providing less coverage for homeowners insurance in inner cities?

'Coverage E-Personal Liability' covers nonphysical personal injury such libel.

Which of the following is covered under 'Coverage B-Other Structures' of the homeowners policy?

Unlike the open perils protection for the dwelling and other structures, personal property is covered against direct loss on a named perils basis.

In a homeowners policy, this coverage applies to personal property owned by others while it is "on the part of the residence premises occupied by an insured" and to property of guests and residence employees while at any residence occupied by an insured.Identify this coverage.

Which of the following is covered under 'Additional Coverages' of a homeowners policy?

Which of the following statements is true about flood insurance?

In a homeowners policy, the policy form is the substance of the contract, spelling out the specific coverage provisions.

In a homeowners policy, _____ is coverage provided if a loss covered under Section I of the homeowners policy renders the residence uninhabitable.

Summarize the advantages of homeowners policies as package policies.