Multiple Choice
One form of the homeowner's policy, HO-2, insures for direct loss to the dwelling, other structures, and personal property caused by eighteen different perils.Only losses caused by these perils are covered.Riot or civil commotion is listed, so a loss caused by either is covered.On the other hand, earthquake is not listed, so a loss caused by earthquake is not covered.Identify the perils policy of HO-2.
A) Closed-perils policy
B) Flexible-perils policy
C) Open-perils policy
D) All risk perils policy
E) Named-perils policy
Correct Answer:
Verified
Correct Answer:
Verified
Q48: Two factors influence the granting of binding
Q49: Losses due to wear and tear are
Q50: More insurance is bought rather than sold.
Q51: In an insurance policy, it states that
Q52: A binder cannot be oral because it
Q54: When a(n) _ is incurred in an
Q55: Policies written on a named-perils basis cannot
Q56: Whether the policy is open-perils or named-perils,
Q57: Liability policies usually cover damage to or
Q58: Insuring clauses do not vary greatly from