PF: Chapter 9 Lesson 3 Homeowners and Renters Insurance

What is one of the worst risks you could take with homeowners insurance?

• Not buying enough coverage

• Not having personal property coverage

• Buying too much coverage

• Not having liability coverage

What does dwelling coverage in a homeowners insurance policy cover?

• The structure of the home

• Additional living expenses

• Personal belongings

• Liability expenses

What does liability coverage in a homeowners insurance policy protect you from?

• Legal liability of property damage or bodily injury

• Cost of rebuilding the home

• Additional living expenses

• Loss of personal belongings

What does personal property coverage in a homeowners insurance policy cover?

• Liability expenses

• Personal belongings if they are damaged, destroyed, or stolen

• The structure of the home

• Additional living expenses

What does loss of use coverage in a homeowners insurance policy cover?

• Liability expenses

• Additional living expenses if unable to live in the home

• Personal belongings if they are damaged, destroyed, or stolen

• The structure of the home

What is the average annual cost of homeowners insurance?

• $1,885

• $833

• $1,211

• $180

What does renters insurance provide coverage for?

• Liability expenses

• Additional living expenses

• The structure of the home

• Personal possessions lost to fire, theft, or vandalism

What is the average cost of renters insurance per year?

• $180

• $1,211

• $833

• $1,885

What is umbrella insurance?

• Extended liability coverage that can be added to auto and homeowners policies

• Coverage for additional living expenses

• Coverage for the structure of the home

• Coverage for personal possessions lost to fire, theft, or vandalism

What does umbrella insurance provide coverage for?

• Additional living expenses

• Big claims and lawsuits that may not be covered by other policies

• Liability expenses

• Personal possessions lost to fire, theft, or vandalism