Personal Lines- Dwelling Policy

Front 1

When will damage to the interior of the building be coveredunder the falling objects peril in the broad form of the DP?

Back 1

Only if the interior damage is a direct result of exterior damage from a falling object

Front 2

What are the 3 types of coverage available in dwellingpolicies?

Back 2

Basic, broad, and special

Front 3

Assuming the insurer and the insured agree on the amountpayable for a loss covered under a dwelling policy, how soon after receivingthe proof of loss must the insurer pay the claim?

Back 3

60 days

Front 4

An insured’s house becomes uninhabitable due to damage by afire. As a result, the insured has to rent an apartment until repairs are made.Which type of coverage under the dwelling policy will pay for the expense ofrenting the apartment?

Back 4

Coverage E- Additional Living Expenses

Front 5

According to the liberalization condition, if an insurermakes a change to broaden coverage in newly issued dwelling policies, how willthat change affect policies already in force?

Back 5

The change will happen automatically

Front 6

Replacement cost coverage is provided in both the broad andspecial form dwelling policies when the amount of insurance on the dwelling iswhat percentage?

Back 6

At least 80% of the replacement cost

Front 7

In dwelling policies, what is the purpose of the automaticincrease in insurance endorsement that increases the amount of insurance by anannual percentage?

Back 7

To offset the effects of inflation

Front 8

What are the 5 coverages of dwelling policies?

Back 8

Coverage A- Dwelling, Coverage B- Other structures, CoverageC- Personal property, Coverage D- Fair rental value, and Coverage E- Additionalliving expenses

Front 9

What is the maximum number of units in residential dwellingsinsurable by Dwelling policy?

Back 9

Up to 4 units

Front 10

In dwelling policies, the premium for the Dwelling underConstruction endorsement is based on what?

Back 10

The average amount of insurance during construction

Front 11

If 3 volcanic eruptions happen within 48 hours, and eachcontributes to property damage, how many deductibles will apply in the dwellingpolicy?

Back 11

1 deductible ( all instances of volcanic eruptions that occurwithin a 72-hour period are considered 1 occurrence)

Front 12

A basic dwelling policy automatically provides coverage againstwhat?

Back 12

Fire, lightning, and internal explosion

Front 13

What are extended covered perils on a basic Dwelling policy?

Back 13

Windstorm or hail, explosion, smoke, aircraft and vehicles,riot or civil commotion, volcanic eruption, and vandalism and maliciousmischief

Front 14

Which of the 3 DP forms provided the most limited coverage?

Back 14

DP-1 (Basic)

Front 15

If an insured is in the process of moving to a new location,his personal property coverage under the dwelling policy will apply on a pro ratabasis at both locations for how long?

Back 15

30 days

Front 16

A gas stove exploding in the dwelling is an example of whichnamed peril?

Back 16

Internal explosion

Front 17

Under Coverage C- Personal Property in the dwelling policy,when will a guest’s property be covered?

Back 17

Only when the property is at the insured location

Front 19

When a dwelling policy is cancelled for nonpayment ofpremium, the insurer must give notice within how many days of the cancellation?

Back 19

10 days

Front 20

Which dwelling coverage form(s) will pay for the replacementcost of a dwelling?

Back 20

DP-2 (Broad) and DP-3 (Special)

Front 21

What are some of the exclusions found in all 3 dwellingforms?

Back 21

Earth movement, water damage, power failure, neglect, war,nuclear hazard, intentional loss, freezing of plumbing, ordinance or law, andgovernment action

Front 22

In DP-3 (Special) is an open-peril form. What does thatmean?

Back 22

All perils are insured unless specifically excluded

Front 23

In dwelling policies, any volcanic activity will be consideredpart of one occurrence if it happens within how many hours?

Back 23

72 hours

Front 24

Under what conditions can broad theft coverage be added to adwelling policy?

Back 24

If the insured is the owner-occupant of the dwelling

Front 25

Which dwelling policy coverage will insure a garage notattached to the primary insured dwelling?

Back 25

Coverage B- Other Structures

Front 26

Which dwelling policy coverage will provide protection forcontents damaged by fire in an insured dwelling?

Back 26

Coverage C- Personal Property

Front 27

Under the Coverage E- Additional Living Expenses, if a civilauthority prohibits the insured from using the dwelling because of directdamage to a neighboring location forma peril covered in the insured’s policy,for what time period would the loss be covered?

Back 27

For up to 2 weeks

Front 28

In DP, within how many years of a loss may an insured bringa lawsuit against the insurer?

Back 28

2 years

Front 29

Which dwelling form is called the Broad form?

Back 29

DP-2

Front 30

Which dwelling form provides open peril coverage on thebuilding?

Back 30

DP-3 Special

Front 31

What do dwelling policies insure?

Back 31

Dwelling only, contents only, or both dwelling and contents