Which of these is the best description of the "special" (HO-3) homeowners insurance policy? It offers...
Which of these is the best description of the "special" (HO-3) homeowners insurance policy?
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It offers extensive coverage for your home and also includes personal property and liability protection
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It's the most comprehensive policy available, covering even flood damage Continue
Homework Answers
Option 1. It offers extensive coverage for your home and includes personal property and liability protection.
Explanation: It is the most commonly used and basic policy. However, it is not the most comprehensive policy.
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Which of these is the best description of the "special" (HO-3) homeowners insurance policy?
It offers...
Jim and pam halpery insured their home and personal property under and unendorsed Homeowners 3 (H...
Jim and pam halpery insured their home and personal property under and unendorsed Homeowners 3 (HO-3) policy. the home has a replacement cost of 150,000. The policy contains the following deductable and limits: Deductible 1% coverage a 150,000 coverage b 15,000 coverage c 75,000 coverage d 45,000 Is this claim covered? if so, which coverage applies? what is the amount payable under the policy? As a result of the fire, the halperts have to rent an apartment for five months...
1. How Much of Fire Loss Will Be Covered? Toula and Ian Miller of Gainesville, Florida,...
1. How Much of Fire Loss Will Be Covered? Toula and Ian Miller of Gainesville, Florida, recently suffered a fire at their home. The fire, which began in a crawl space at the back of the house, caused $50,000 of dam- age to the dwelling itself. Their ued at $20,000, was totally destroyed but did not contain a car at the time of the fire. Replacement of the Millers' personal property damaged in the home and garage amounted to $23,000....
38) - JULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the...
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Stephen Bjork's insurance policy reads as follows: Coverage; Limits Bodily Injury/Property Damage $250,000/$500,000/$100,000 Personal Injury Protection...
Stephen Bjork's insurance policy reads as follows: Coverage; Limits Bodily Injury/Property Damage $250,000/$500,000/$100,000 Personal Injury Protection $150,000 Per-Person Uninsured Motorist $100,000/$300,000 Physical Damage: Collision Comprehensive Deductible = $1,000 Deductible = $500 Emergency Road Service Up to $95 Rental Reimbursement Up to $25 per-day, $750 maximum He hits a guardrail out on the highway in Canada. He is slightly injured and his medical bills total $1,200. The damage to the guardrail costs $8,669 to repair. How much will his policy pay...
Read and complete the following statements regarding the coverages provided by the PAP. • Insurance companies...
Read and complete the following statements regarding the coverages provided by the PAP. • Insurance companies can express their liability coverage using either a combined limit or split limits. If a split limit is used, such as $100,000/$300,000/$100,000, then the third term in the limit expresses the maximum dollar amount that the insurance company will pay for the maximum amount paid for all vehicles damaged in the accident Most states allow you, as a poli each person's bodily injury expenses...
Stephen Bjork's insurance policy reads as follows: Coverage; Limits Bodily Injury/Property Damage $250,000/$500,000/$100,000 Personal Injury Protection...
Stephen Bjork's insurance policy reads as follows: Coverage; Limits Bodily Injury/Property Damage $250,000/$500,000/$100,000 Personal Injury Protection $150,000 Per-Person Uninsured Motorist $100,000/$300,000 Physical Damage: Collision Comprehensive Deductible = $1,000 Deductible = $500 Emergency Road Service Up to $95 Rental Reimbursement Up to $25 per-day, $750 maximum He hits a deer that jumps out in front of his car. His car will cost $10,676 to repair. His medical bills from this accident run at $1,500, it costs $82 to tow his car...
TRUE/FALSE. Write T if the statement is true and if the statement is false. 25) Insurance...
TRUE/FALSE. Write T if the statement is true and if the statement is false. 25) Insurance is protection against possible financial loss. 26) Defective house wiring is a hazard that increases the chance that a fire will start. 27) An example of a peril is a robbery. 28) Risk management is an organized plan for protecting y property. for protecting yourself, your family, and your 29) Once a risk management plan is put into action, needs change. It should remain...
Some common liability risks include: Question 16 options: 1) driving a car. 2) Entertaining guests at...
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91. What is the primary value of insurance to business enterprise? It removes all tort and...
91. What is the primary value of insurance to business enterprise? It removes all tort and contract liability risk. It provides a means to shift risk away from the business to an insurer. It shields directors and officers from personal liability. d. It imposes a duty of utmost good faith on the business enterprise. 92. Under which level of government jurisdiction do insurance policies fall? a. provincial jurisdiction b. federal jurisdiction c. executive jurisdiction d. municipal jurisdiction...
However, instead of protecting against every possible cause of loss
Assignment: Chapter 10 - Protecting Your Property 2. The basic principles of property insurance What Are the Basic Principles of Property Insurance? There are two major types of insurance that protect your real and personal property, and that of others: property insurance and liability insurance. As several of the principles on which property and liability insurance are based differ from those underlying life and health insurance, it is important that you be aware of these differences so that you can structure your coverage and...
1. How Much of Fire Loss Will Be Covered? Toula and Ian Miller of Gainesville, Florida, recently suffered a fire at their home. The fire, which began in a crawl space at the back of the house, caused $50,000 of dam- age to the dwelling itself. Their ued at $20,000, was totally destroyed but did not contain a car at the time of the fire. Replacement of the Millers' personal property damaged in the home and garage amounted to $23,000....
38) - JULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the quest 38) An individual who purchases an insurance policy is called A) The insurance company. B) A policyholder. C) A victim. D) An employer. E) An insurer. 39) 39) What is the fee that a policyholder pays when an insurance company agrees to take on the risk? A) Coverage B) Insured C) Peril D) Risk E) Premium 40) 40) The most common risks are...
Read and complete the following statements regarding the coverages provided by the PAP. • Insurance companies can express their liability coverage using either a combined limit or split limits. If a split limit is used, such as $100,000/$300,000/$100,000, then the third term in the limit expresses the maximum dollar amount that the insurance company will pay for the maximum amount paid for all vehicles damaged in the accident Most states allow you, as a poli each person's bodily injury expenses...
TRUE/FALSE. Write T if the statement is true and if the statement is false. 25) Insurance is protection against possible financial loss. 26) Defective house wiring is a hazard that increases the chance that a fire will start. 27) An example of a peril is a robbery. 28) Risk management is an organized plan for protecting y property. for protecting yourself, your family, and your 29) Once a risk management plan is put into action, needs change. It should remain...
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