Property Insurance FundamentalsPregunta 233 de 474
Which of these people has an insurable interest in one particular house?
a.A buyer whose offer on it was rejected
b.A neighbor whose view that house frames
c.A bank holding a mortgage on that house
d.A roofer who worked on it three years ago
Explicación
Insurable interest means suffering a real financial loss if the property is damaged, and a mortgagee stands to lose its security, so it may be named on the policy. A neighbor's enjoyment of a view is not a financial stake in the building. A rejected buyer holds no ownership or contract right, and a contractor's interest ended when the finished job was paid for.
Practica las 474 preguntas gratis — sin registro.
Own the complete Personal Lines Insurance Producer guide — PDF + EPUB, $19.99 →
Preguntas relacionadas de este tema
- Two policies with no conflicting other-insurance wording cover the same building. Pro rata sharing makes each insurer pay:
- A building is insured by one policy for $150,000 and another for $100,000, both sharing pro rata. A covered loss of $40,000 occurs. The $150,000 policy pays:
- Two policies share a loss pro rata: one carries an $80,000 limit, the other $120,000. A covered $50,000 loss occurs. The $80,000 policy pays:
- Two partners each own an undivided one-half interest in a $300,000 rental building. One buys a policy in her own name with a $300,000 limit. Fire destroys the building. She may collect:
- The limit of insurance shown on the declarations page of a property policy represents:
- Blanket insurance differs from specific insurance in that a blanket limit:
Última revisión: · proceso editorial
Equipo de PrepPass · Verificado con California Personal Lines Insurance License Exam · Cómo revisamos