QUESTION 8Maria's property was damaged by an earthquake. Maria is unsure whether earthquake is covered by her property insurance. Which two sections of theproperty insurance policy should Maria review to determine whether earthquake damage to her property is covered?a. exclusions and declarationsb. definitions and insuring agreementC. insuring agreement and exclusionsd. conditions and declarations

An insurance policy is a legal agreement between the policy holder or insured and the insurance…

Maria's property was damaged by an earthquake, Maria is unsure whether earthquake is covered by her property insurance. Which two sections of the property insurance policy should Marla review to determine whether earthquake damage to her propertyTs covered? a. exclusions and declarations b. definitions and insuring agreement C. insuring agreement and exclusions d. conditions and declarations

Maria's property was damaged by an earthquake, Maria is unsure whether earthquake is covered by her property insurance. Which two sections of the property insurance policy should Marla review to determine whether earthquake damage to her propertyTs covered? a. exclusions and declarations b. definitions and insuring agreement C. insuring agreement and exclusions d. conditions and declarations

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter10: Managing Property And Liability Risk

Section10.3: Homeowner’s Insurance

Problem 4CC

See similar textbooks

Similar questions

Question 9 of 10 Which area is not protected by most homeowners insurance? The home Your view Loss of use Personal property Continue
What type of property insurance would cover injury to a repairperson on your property? A. Additional living expenses coverage B. Damage to home or property insurance cover C. Personal liability coverage
Which of the following statements is correct about perils in property insurance policies? An (HO-2) form provides coverage for more perils than a (HO-3) Form. a Peril is defined as the cause of a loss A peril increases the chance of a loss a property insurance policy must contain a list of all cover perils
help
R9
Losses due to destruction of personal property are covered by (choose the best answer) Personal insurance Liability insurance Property & casualty insurance Umbrella insurance
uge to or loss of a dwelling and personal property of of g protects the beneficiary against the financial aspects of a traffic accident. TUSS, damage, or injury. May result in either financial gain or financial loss. 24. Financial service used to protect against loss. 25. Completion Amount of money or other services to which you are entitled under the terms of your insurance policy. Complete each statement. 26. A(n) endorsement 27. The Premium is an attachment to existing insurance coverage. is the amount the insured pays for insurance coverage. 28. The amount the insured is responsible for paying when a claim is made is the deductible 29. The process of documenting a loss against an insurance policy is called filing a(n) Claim 30. depreciation is a decrease in the value of property as a result of age or wear and tear. 31. The replacement cost minus depreciation is known as actual cash value 32. All 50 states have financial responsibility laws that require drivers to show proof of…
The PRIMARY function of an umbrella liability insurance policy is to provide coverage for • A. personal property damage caused by inclement weather. B. legal claims that exceed the policyholder's primary liability insurance limits. C. multiple dwellings and vehicles under a single insurance policy. D. vehicles that are either rented or borrowed by the policyholder.
All of the following are covered under "Coverage D: Loss of Use" of the Homeowners 3 policy EXCEPT a. Additional living expenses if the home cannot be used because of loss from an insured peril. O b. The cost to repair or replace property destroyed by a covered peril. c. Loss of rent if part of the premises rented to a boarder cannot be used. O d. Additional living expenses if the home cannot be used because of the order of civil authority.
. An insured dies in a fire at his/her home caused by careless smoking. What action will the insurer of the dwelling take? Deny the loss to building and contents as the insured caused the fire. Pay the loss to the building and contents to the insured's estate. Pay the building and contents loss into Court in trust. Be unable to pay the property loss as the named insured is no longer available to sign the proof of loss.
An insured is purchasing a Building and Personal Property Coverage Form (BPP) to cover her business. She asks the agent to explain how her property will be valued in the event of a loss. Which one of the following statements made by her agent accurately describes how the covered property will be valued in the event of loss? The insurer is obligated to pay replacement cost regardless of whether or not the property has actually been repaired or replaced. The insurer is obligated to pay the cost to replace the damaged or destroyed property with new property of like kind and quality without any deduction for depreciation or obsolescence. Insurers underwrite the coverage carefully because some items that can be difficult to value, such as manuscripts, works of art, antiques, and rare articles, are covered for replacement cost. If the insured elects to accept an ACV claim settlement, the insured is barred from later requesting payment of replacement cost.
pls help asap