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04. Homeowner's Form 3, 4, 5, 6, and 8
HO-3, HO-5, HO-4, HO-6, HO-8
14
Insurance
Undergraduate 1
11/28/2011

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Cards

Term
T or F-UNDER THE HO-3 FORM, THE BURDEN OF PROOF IS UP TO THE INSURANCE COMPANY TO PROVE THAT A PERIL IS EXCLUDED
Definition
True
Term
WHAT HO FORM IS A COMBINATION OF THE BROAD PERILS AND THE OPEN PERIL APPROACH
Definition
HO-3 Special Form
Term
T or F-UNDER THE SPECIAL FORM, COVERAGE APPLIES UNLESS A PERIL IS SPECIFICALLY EXCLUDED
Definition
True
Term
T or F-UNDER THE HO-3 FORM, CONTENTS COVERAGE APPLIES WITHOUT ARGUMENT
Definition
False
Term
WHAT IS THE BROADEST FORM OF HOMEOWNER INSURANCE
Definition
HO-5 Comprehensive form
Term
T or F-HO-5 PROVIDES OPEN PERIL COVERAGE ON BOTH BUILDINGS AND THEIR CONTENTS
Definition
True
Term
TENANTS FORM IS AN INFORMAL NAME FOR
Definition
The contents broad form HO-4
Term
WHAT FORM IS DESIGNED TO COVER THE CONTENTS OF A TENANT LIVING IN A NON-OWNED STRUCTURE?
Definition
HO-4 contents broad form
Term
T or F-HO-4 FORM PROVIDES THE NAMED BROAD PERILS
Definition
True
Term
THIS FORM IS DESIGNED FOR THE CONDOMINIUM OWNER
Definition
HO-6 unit-owners broad form
Term
T or F-HO-6 COVERS THE STRUCTURAL PORTION OF A CONDO OWNED BY THE INSURED PLUS ANY IMPROVEMENTS
Definition
True
Term
T or F-HO-8 PROVIDES COVERAGE AGAINST ICE AND SNOW WEIGHT
Definition
False
Term
MODIFIED COVERAGE FORM
Definition
HO-8
Term
THIS FORM PROVIDES VERY BASIC PERIL COVERAGE AND WAS DESIGNED TO COVER DWELLINGS IN WHICH THE REPLACEMENT COST VALUE IS MUCH GREATER THAN MARKET VALUE
Definition
HO-8 Modified coverage form
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