Exam 10: Protecting Your Property

Tom visits George at his ranch.Although a novice on horseback,Tom decides to join George on a morning ride.George recommends that Tom ride an unbroken stallion named Satan.While mounting Satan,Tom is thrown headlong through the windshield of Tom's car.The damage to the car is $2,000 and Tom's own insurance pays him $1,500 ($500 deductible).Under what principle could Tom's insurance company sue George for his negligence?

All property insurance companies require you to show the following when making a claim:

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -[Most | Few] tenants carry renters insurance.

Nancy's house has been completely destroyed by fire.Prior to the accident,the house had a value of $100,000.Nancy had two separate policies totaling $60,000 each.She may collect $60,000 from each insurance company.

If you have an outstanding loan on your car,the contract will require you to carry ____ insurance.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -The theft of your favorite jacket from your locked car [would be | would not be] taken care of by your renter's policy.

Your standard HO policy will not include coverage for damage done by

Section I of a homeowner's insurance policy covers all of the following except

To reduce auto insurance premiums as your car depreciates in value,you should consider self-insuring which of the following risks?

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -When considering your possible losses as a property owner,you would be more likely to suffer a very severe loss from [loss of property | liability claims].

A standard HO policy covers damage from most weather-related perils except

Property insurance is meant to protect property owners from two basic types of exposures,physical loss of property and loss through depreciation.

You would be considered to be negligent when you,a dependent,or another named insured's action causes harm or property loss.

Uninsured motorist coverage covers passengers in your car from losses caused by your negligence.

Persons insured under Part B medical payments coverage include

Which of the following losses is most likely to be covered under your auto liability insurance?

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -The type of car you drive will have [no | a large] effect on the premiums you pay.

Collision protection pays for damage to

The condominium owner would choose an ____ policy.

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement. -Bill was the at-fault party when you and he collided.Your insurance company has paid for the damages to your car.Now,it intends to recover this money from Bill.This is the right of [subrogation | indemnification].