Homeowners Insurance Review

Which pays how much it is to replace the damaged property

• The premium

• Replacement cost

• Your parents

• Your neighbor

What does homeowners insurance cover?

• Fire

• Theft

• Tornado

• All of the above

What is Homeowners Insurance?

• This insurance protects your home and covers it in case something happens like a fire.

• where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person.

• is insurance for cars, trucks, motorcycles, and other road vehicles.

Does Homeowners Insurance Cover water Backup?

• False

• True

3. Karishma has a renters insurance policy with a coverage limit of $25,000. While she’s on vacation a fire breaks out, ruining $9,000 worth of possessions before the fire department puts it out. Her deductible is $500. How much will Karishma and the insurance company each pay?

• Karishma pays $0, while the insurance company pays $500
• Karishma pays $0, while the insurance company pays $9,000
• Karishma pays $500, while the insurance company pays $8,500
• Karishma pays $500, while the insurance company pays $24,500

2. What is the liability portion of a homeowners insurance policy meant to cover?

• The cost of a lawsuit if someone sues you for injuries they got on your property
• The cost of repairing the physical structure of your home
• The cost of floods and earthquakes not covered by a standard policy
• The cost of replacing personal property that you, yourself, damage within your home

3. Which college student is MOST likely to need their own renters insurance policy?

• Abigail, who lives with her parents and commutes to college
• Beatrice, who is a freshman living in a dorm and whose mom has homeowners insurance
• Carson, who is a senior living in a dorm and whose guardians have homeowners insurance
• Dani, who lives in an off-campus apartment with her cousin and a friend

You lose control of your car and it rolls. Your car can’t be repaired, so you need to purchase a new car.

• Life

• Disability

• Health

• Liability: Homeowners

• Property: Automobile

A formal request to an insurance company asking for a payment when the policyholder has an accident, illness or injury.

• claim

• request

• complaint

Requires the insured individual to pay a fixed percentage of the loss after the deductible has been paid

• deductible

• coverage

• co-insurance