Shared Flashcard Set

Details

Insurance
Homeowners
22
Other
Professional
07/25/2006

Additional Other Flashcards

 


 

Cards

Term
Liability coverage
Definition
Is automatically on policy
Term
Coinsurance
Definition
DID
______ x LOSS = COINSURANCE
SHOULD
Term
Inflation Guard
Definition
every year the amount of coverage goes up
Term
Homeowners must be owner ________.
Definition
occupied
Term
Forms of owner occupied...
Definition
1.Primary Home
2.Secondary Home
Term
Builders Rick Policy
Definition
Only if the insured is building own home themselves as a residence.
Term
If multiunit the insurer must
Definition
occupy 1 or more units
Term
Ho8
Definition
Basic
Term
Ho2
Definition
Broad
Term
Ho3
Definition
Special
Term
Ho4
Definition
Tenant Broad(Renters)
Term
Ho5
Definition
Comprehensive
Term
Ho6
Definition
Condo Broad
Term
Which policies include sec II liability & COV E & COV F?
Definition
Ho8, Ho2, Ho3, Ho5
Term
Which Policies only have COV E & COV F
Definition
Ho4 & Ho6
Term
_____________ are considered members of the household until the age 24. All of their personal property is covered.
Definition
Full time students
Term
PUP( personal umbrella policy )
Definition
Picks up what auto & homeowners liabilities leave off.
Term
Liability Coverage
Definition
3rd party only.
You cannot be liable to yourself.
Always built into homeowners policy.
Term
Coverage E
Definition
Personal Liability
Term
Coverage F
Definition
Medical Payments to others
Term
Basic Limit for COV E is
Definition
100,000 per occurance
Term
Residence premises
Definition
the dwelling, other structures, & grounds, or that part of any other building where the named insured lives & which is identified as the residence premises in the Dec Page.
Supporting users have an ad free experience!