Home & Property Insurance Review

Covering large damage which an individual may not otherwise be able to cover is a benefit of __________.

• Homeowner’s insurance

• Flood insurance

• Natural disaster insurance

• Comprehensive international insurance

Extremely valuable personal property can be insured by purchasing which of the following types of insurance?

• Additional replacement cost coverage

• Dwelling coverage

• Personal property floater

• Green home coverage

Select the correct answer from the choices provided in the underlined sections. Homeowner’s insurance / Specialized coverage covers losses from floods or earthquakes and must be purchased separately from the original policy.

• Homeowner’s insurance

• Specialized coverage

Which of the following types of insurance pays the costs of minor accidental injuries to visitors of the policyholder’s home?

• Umbrella policy

• Medical payments coverage

• Hospital indemnity plan

• Universal life insurance

Select the correct answer from the choices provided in the underlined sections. Renter’s insurance is necessary because renters are not covered by their landlord’s policy unless the renter / landlord is found liable for the damage.

• Renter

• Landlord

Which of the following is a type of renter’s insurance?

• HO-1

• HO-3

• HO-4

• HO-5

Select all of the following incidents which an HO-1 policy protects against.

• Damage from vehicles

• Hail

• Lightning

• Weight of snow

Select all of the following factors which affect home insurance prices.

• Coverage amount

• Home location

• Homeowner’s income

• Structure of the home

Mortgage protection life insurance is a policy designed specifically to repay mortgage debt in the event of the death of the borrower.

• True

• False

Felix’s home is less than 10 feet from the nearest water hydrant. As a result, his insurance costs less than those living further away. Which of the following factors are affecting Felix’s home insurance costs?

• Type of structure

• Location

• Coverage amount

• Policy type