Property Insurance FundamentalsCâu 206 / 474
Which of the following is typically NOT covered under a standard homeowners property form?
a.Flood
b.Theft
c.Fire
d.Windstorm
Giải thích
Standard homeowners forms exclude flood; flood coverage must be obtained separately. Earth movement (such as earthquake) is also typically excluded and added by endorsement or a separate policy. Fire, windstorm, and theft are covered perils under standard forms. Knowing which catastrophic perils are excluded from the base policy is essential for identifying coverage gaps.
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Câu hỏi liên quan cùng chủ đề
- Actual cash value (ACV) of personal property is calculated as:
- Under an open-perils (all-risk) property form, a loss is covered:
- A homeowner has a $1,000 deductible and suffers a covered $6,000 loss. How much will the insurer pay?
- After paying a claim, an insurer's right to recover from the person who caused the loss is called:
- Depreciation, when an insurer computes the actual cash value of damaged property, is measured mainly by the property's:
- A roof with a 20-year useful life is 15 years old when hail destroys it. Replacement cost is $16,000, the roof is settled at actual cash value, and the deductible is $1,000. The insurer pays:
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