Which of the following is usually included in a basic homeowners insurance policy?

What coverages are included in a homeowner's insurance policy quizlet?

Major coverages included in the homeowners policy are as follows: Coverage A- Dwelling, Coverage B- Other Structures, Coverage C- Persoanl Property, and Coverage D- Loss of Use. Loss of income is not covered by the homeowners policy. What type of property is not covered by the homeowners policy?

What is excluded from a homeowners policy?

Some common home insurance exclusions include floods, earthquakes, and sewer backups. If you need to protect your home against something your insurance doesn't cover, you can add coverage for certain perils to your existing policy or purchase a separate policy.

Which of the following coverages is included in the homeowners policy but not included in an unendorsed dwelling policy?

Which of the following coverages is included in the homeowners policy but is not included in an unendorsed dwelling policy? Liability & theft.

What do homeowners policies not provide coverage for quizlet?

Homeowners policies don't provide coverage for: flood damage. liability in the case of third party injury. damage to outbuildings.

Which homeowners policy is the most basic?

An HO-1 policy is the most basic of all the types of homeowners insurance policies. It only provides coverage for the structure of your home, attached structures like garages, and appliances and home features like carpeting. It does not include coverage for personal property, liability or additional living expenses.

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

Damage or destruction due to vandalism, fire and certain natural disasters are all usually covered. So is your liability if someone is injured on your property. Certain catastrophes, like flooding or earthquakes, are generally not covered by basic homeowners policies and require specialized insurance.

Which 11 perils are covered in basic form?

The basic causes of loss form (CP 10 10) provides coverage for the following named perils: fire, lightning, explosion, smoke, windstorm, hail, riot, civil commotion, aircraft, vehicles, vandalism, sprinkler leakage, sinkhole collapse, and volcanic action.

Which one is not protected by most homeowners insurance?

What are two major general exclusions in almost all homeowners insurance policies that cover real property?

What is one of the many items or events not covered by most home insurance policies?

Events typically not covered by standard homeowners insurance include: Floods. Earthquakes, sinkholes and other "earth movements" Other natural disasters (depending on geographic location)

What are the two types of property coverage provided by a homeowners insurance policy?

Understanding Property Insurance

Replacement cost covers the cost of repairing or replacing property at the same or equal value. The coverage is based on replacement cost values rather than the cash value of items. Actual cash value coverage pays the owner or renter the replacement cost minus depreciation.

Which of the following are coverages provided by Section 2 of the homeowners policy?

Section II of a typical homeowners policy contains a provision whereby your insurance company agrees to defend and indemnify you for damages you become liable to pay a third-party for certain “bodily injury” or “property damage” that results from an “occurrence.”

What does a basic dwelling policy automatically include coverage for?

The Basic Dwelling policy automatically covers only fire, lightning and internal explosion. Hail and smoke are among the perils that may be added by an extended coverage endorsement (ECE).

What type of coverage is always excluded from homeowners and tenants policies?

Earthquake, flood, mold, earth movement, and “wear and tear” are some of the perils that are usually excluded.

What is excluded from insurance?

An exclusion is a provision within an insurance policy that eliminates coverage for certain acts, property, types of damage or locations. Things that are excluded are not covered by the plan, and excluded costs don't count towards the plan's total out-of-pocket maximum.

Which of the following perils is most likely to be excluded from coverage in a homeowner's insurance policy?

Typical examples of excluded perils under a homeowners policy are flood, earthquake, and nuclear radiation. A typical example of an excluded loss under an automobile policy is damage due to wear and tear.

Which of the following is covered by the liability component of a homeowners insurance policy?

Liability covers you against lawsuits for bodily injury or property damage that you or family members cause to other people. It also pays for damage caused by your pets.

Which of the following coverages is included in an endorsed homeowners policy?

While an unendorsed homeowners policy will cover the value of basic belongings and the house itself from ordinary perils, an endorsed policy will cover any value that you stipulate against all forms of loss.

What is an add on to a homeowner's policy that includes one of a kind items like art or jewelry?

A Personal Articles Floater policy provides insurance coverage for jewelry and other valuable items. Examples of items you might list on your PAF policy include artwork, family heirlooms, engagement rings, jewelry, antiques, high-end collections or high-priced hobby equipment like music and golf equipment.

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.