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Home & Property Insurance Review

Total questions: 20

Worksheet time: 10mins

Name
Class
Date
1.

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

a)

Homeowner’s insurance

b)

Flood insurance

c)

Natural disaster insurance

d)

Comprehensive international insurance

2.

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

a)

Additional replacement cost coverage

b)

Dwelling coverage

c)

Personal property floater

d)

Green home coverage

3.

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.

a)

Homeowner’s insurance

b)

Specialized coverage

4.

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

a)

Umbrella policy

b)

Medical payments coverage

c)

Hospital indemnity plan

d)

Universal life insurance

5.

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.

a)

Renter

b)

Landlord

6.

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

a)

HO-1

b)

HO-3

c)

HO-4

d)

HO-5

7.

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

a)

Damage from vehicles

b)

Hail

c)

Lightning

d)

Weight of snow

8.

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

a)

Coverage amount

b)

Home location

c)

Homeowner’s income

d)

Structure of the home

9.

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

a)

True

b)

False

10.

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?

a)

Type of structure

b)

Location

c)

Coverage amount

d)

Policy type

11.

Insurance rates are lower in high-crime areas.

a)

True

b)

False

12.

Supplemental insurance is also known as “portable” insurance.

a)

True

b)

False

13.

A new home is more difficult to insure than an old one.

a)

True

b)

False

14.

Jennifer owns a wood home and pays higher insurance rates than her neighbor, who owns a brick home. Which of the following factors are affecting Jennifer’s home insurance costs?

a)

Type of structure

b)

Location

c)

Coverage amount

d)

Policy type

15.

Select all of the following agencies where specialized coverage may be purchased.

a)

Family Emergency Rights and Prevention Agency

b)

Federal Emergency Management Agency

c)

National Flood Insurance Program

d)

National Mine Subsidence Recovery Fund

16.

Which of the following refers to the fact the policyholders are held responsible for any accident which occurs on their property?

a)

Coverage amount

b)

Specialized coverage

c)

HO-1

d)

Personal liability

17.

Homeowner’s insurance covers floods and frozen pipes.

a)

True

b)

False

18.

Which of the following types of personal liability insurance options supplements the policyholder’s personal liability coverage to protect against personal catastrophe?

a)

Umbrella policy

b)

Medical payments coverage

c)

Bodily injury liability

d)

Collision insurance

19.

__________ is coverage which provides protection for a home and its associated financial risks.

a)
Dwelling and medical insurance
b)
Life and personal injury insurance
c)
Automobile insurance
d)

Home & Property

20.

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

a)

HO-4

b)

HO-5

c)

HO-6

d)

HO-7