What area is not protected by most homeowners insurance?

• Damage caused by earth movements such as sinkholes and earthquakes.
• Issues caused by neglect or improper maintenance of the property.
• Damage caused by termites and other insects.

Which of the following would not be considered part of the insured location under the liability section of a homeowners policy?

Which of the following would NOT be considered part of the insured location under the liability section of a homeowners policy? Dwelling replacement cost.

What 3 areas are covered in a typical homeowners policy?

Key Takeaways. Homeowners insurance policies generally cover destruction and damage to a residence's interior and exterior, the loss or theft of possessions, and personal liability for harm to others. Three basic levels of coverage exist: actual cash value, replacement cost, and extended replacement cost/value.

What are excluded perils?

An excluded peril is a peril not covered in an insurance policy. If one of the listed perils causes a loss, the insurance company does not bear the responsibility of providing financial relief.

Which of the following are excluded from comprehensive home policy?

General exclusions of a home insurance policy in India

Intentional/willful destruction of the property (home and contents) Any property which is kutcha construction. Pre-existing damage to the structure of your home and contents. Manufacturing defects in electrical, mechanical and electronic items.

What are examples of commonly covered and not covered homeowners insurance situations quizlet?

Typical homeowners insurance policies offer coverage for damage caused by fires, lightning strikes, windstorms and hail. But, it's important to know that not all natural disasters are covered by homeowners insurance. For example, damage caused by earthquakes and floods are not typically covered by homeowners insurance.

Which type of disaster is not commonly covered by insurance?

Standard homeowners' insurance policies cover the most common types of damage, like theft and fire damage, but natural disasters are typically not covered.

Are there situations where insurance would not help?

The most common exclusions to a homeowners insurance policy are typically related to one of the following: large-scale disasters, like floods or war; damage due to negligence or normal wear and tear; and inherently risky items, such as trampolines.

What are exclusions in insurance?

Exclusion — a provision of an insurance policy or bond referring to hazards, perils, circumstances, or property not covered by the policy. Exclusions are usually contained in the coverage form or causes of loss form used to construct the insurance policy.

Which of the following is something that will not affect your homeowners insurance premium?

Which of the following is something that will not affect your homeowners insurance premium? Answer: A (The distance of the home from a school.)

What are the six categories typically covered by homeowners insurance?

Generally, a homeowners insurance policy includes at least six different coverage parts. The names of the parts may vary by insurance company, but they typically are referred to as Dwelling, Other Structures, Personal Property, Loss of Use, Personal Liability and Medical Payments coverages.

Which coverage is not provided under Section II of a homeowners policy?

Four Section II exclusions— an insured's premises that are not an insured location, motor vehicles, watercraft, and aircraft—do not apply to bodily injury sustained by a “residence employee” in the course of employment by an insured.

What is excluded from a dwelling policy?

What is not covered by dwelling insurance? A standard homeowners insurance policy typically does not cover floods, earthquakes, sewer backups or damage that occurs from a lack of maintenance. You may be able to buy additional coverage or a separate insurance policy to help cover some of these additional perils.

Which one of the following is considered an uninsurable peril?

Perils that insurers are unwilling to cover are often catastrophic in nature, for which the probability of a payout is high and expected. The major areas for which insurance is unobtainable include reputational risk, regulatory risk, trade secret risk, political risk, and pandemic risk.

Is mold a covered peril?

Typically, mold damage is only covered if it's related to a covered peril. Mold damage caused by flooding would need to be covered by a separate flood insurance policy. Proper preventative measures can help minimize the odds of having to deal with a mold issue.

Which of the following homeowners coverage does not have a deductible?

Which of the following homeowners coverage does not have a deductible? Damage to property of Others is an Additional Coverage under Section II, which is not subject to a deductible. A guest falls in K's house and is injured in an amount of $1,000.

What is the most important part of homeowners insurance?

The most important part of homeowners insurance is the level of coverage. Avoid paying for more than you need. Here are the most common levels of coverage: HO-2 – Broad policy that protects against 16 perils that are named in the policy.

Does home insurance cover structural problems?

Does home insurance cover structural problems? Unfortunately, home insurance policies usually don't cover any damage caused to your home by structural problems, and termite damage is also usually not covered by home insurance policies.

Which of the following would not be classified as personal property for insurance purposes?

Which of the following would NOT be classified as personal property for insurance purposes? A house. The purpose of a stated value contract is: To per-establish the amount of coverage available for property items that are difficult to value.

Which of the following losses would not be covered by the dwelling policy if the dwelling is vacant for over 60 days?

Which of the following losses would not be covered by the dwelling policy if the dwelling is vacant for over 60 days? Covered perils are Fire lightning and internal explosion.

Which of the following would not be covered under Coverage C of the special dwelling form?

At the insured's request, Coverage C will apply to personal property of a guest or servant while located on the described location. Personal property of a tenant or boarder is not covered. Damage by wind, hail, weight of ice, snow or sleet is not covered.