Homeowner's and Renters’ Insurance Quiz

All of the following are true about homeowner's and renters’ insurance EXCEPT:

• They both include the dwelling

• All mortgage companies required borrowers to have insurance coverage

• They both include liability coverage

• They both include your contents you own

With homeowners’ insurance you can choose replacement cost or actual cash value when replacing your items after a loss. Which one would be more expensive?

• Replacement cost

• Actual cash value

Which item did we discuss that is the main factor that affects insurance rates for homes in Kansas?

• Income amount

• Gender

• Weather

• Crime

All the following are factors that affect the cost of homeowner’s insurance rates EXCEPT:

• Location

• Dog breed

• Size of the family

• Age of house

What percent of the price of your home is the deductible for the insurance policy shown in your notes?

• 1%

• 5%

• 100%

• 10%

What is the value of the dwelling covered in the policy shown in your notes?

• $300,000

• $485,000

• $363,750

• $97,000

What is the total annual premium for the policy shown in your notes, after discounts?

• $4,116

• $1,441

• $192.42

• $2,309

What is the value of personal property (coverage B) covered in the policy shown in your notes?

• $300,000

• $485,000

• $363,750

• $97,000

Homeowner’s Insurance: What is the value of the personal liability (coverage L) covered in the policy shown in your notes?

• $300,000

• $485,000

• $363,750

• $97,000

The amount of money you have to pay before your insurance company pays a claim.

• Coverage limit

• Copay

• Premium

• Deductible