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Insurance-Dwelling Policies

Insurance-Dwelling Policies

Assessment

Flashcard

Other

Vocational training

Practice Problem

Hard

Created by

trish kamer

FREE Resource

Student preview

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8 questions

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1.

FLASHCARD QUESTION

Front

DWELLING POLICY

Back

home insured owns, but doesn't live there-rents it out-NO THEFT AND NO SECT II (liability)

2.

FLASHCARD QUESTION

Front

VALUATION OF CLAIMS-DP

Back

coverage A & B real property claims are replacement cost if coverage is 80% of RC-if have coverage c, personal property settled at ACV

3.

FLASHCARD QUESTION

Front

DP ENDORSEMENT-

DWELLING UNDER CONSTRUCTION

Back

limit of liability is a percentage of the policy limit based on the value of partially completed home (increases as construction progresses)

4.

FLASHCARD QUESTION

Front

DP ENDORSEMENT-
SPECIAL PROVISIONS MI

Back

required for ALL DP in MI. Changes "suit against us" to 2 years after loss (to sue insurer) and adds that insurer must pay a claim within 30 days of valid proof

5.

FLASHCARD QUESTION

Front

DP ENDORSEMENT-

AUTOMATIC INCREASE OF INSURANCE

Back

slowly increases limits of coverage with inflation-percentage listed in endorsement

6.

FLASHCARD QUESTION

Front

DP ENDORSEMENT-

BROAD THEFT COVERAGE

LIMITED THEFT

Back

(theft not covered for DP coverage C, personal property)-this adds theft as coverage for contents on and off premises IF DWELLING IS OWNER OCCUPIED

limited theft if not owner occupied and premises only)

7.

FLASHCARD QUESTION

Front

DP ENDORSEMENT-

PERSONAL LIABILITY SUPPLEMENT

Back

adds personal liability (COVERAGE L) and medical payments to others (COVERAGE M)

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