Term
| T or F-AN INSURED THAT INTENTIONALLY CONCEALS OR MISREPRESENTS A MATERIAL FACT IS STILL COVERED UNDER THE HOMEOWNER POLICY FOR SECTION I |
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Definition
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Term
| T or F-AN INSURED THAT INTENTIONALLY CONCEALS OR MISREPRESENTS ANY MATERIAL FACT IS NOT COVERED UNDER TH HOMEOWNER POLICY FOR SECTION I OR II |
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Definition
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Term
| T or F-A CHANGE TO A HOMEOWNERS POLICY FOR SECTION I AND II MUST BE IN WRITING |
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Definition
| True-usually by endorsement |
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Term
| T or F-THE INSURED CAN ONLY CANCEL A HOMEOWNER POLICY FOR SECTION I OR II IF THEY FEEL THE INSURER HAS TREATED THEM UNFAIRLY |
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Definition
| False-insured may cancel at any time for any reason |
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Term
| T or F-AN INSURANCE COMPANY MAY CANCEL FOR ANY REASON ANY TIME |
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Definition
| False-an insurance company may cancel for reasons listed in the Law Supplement text. |
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Term
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Definition
| When the insurer cancels on the anniversary of the policy by giving 30 days notice. |
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Term
| WHEN THE INSURED CANCELS THE POLICY, THE UNEARNED PREMIUM IS RETURNED ON ________ BASIS. |
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Definition
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Term
| WHEN THE INSURER CANCELS THE POLICY, THE UNEARNED PREMIUM IS RETURNED ON _______ BASIS |
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Definition
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Term
| T or F-Raj age 18 lost his dad, the policy holder on the house where Raj lived. Two days after his father's death, Raj's newly inherited house burned to the ground. The insurance company refused coverage |
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Definition
| False-If an insured dies during the policy period, the legal representatives of the deceased will be protected by the homeowners policy for sections I and II |
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Term
| T or F-A POLICYHOLDER CAN GIVE HIS POLICY TO ANOTHER PERSON WITHOUT WRITTEN PERMISSION FROM THE INSURANCE COMPANY. |
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Definition
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Term
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Definition
| When the insurer makes a change which broadens coverage under the current edition of the policy without additional premium change. |
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Term
| T or F-WHEN A LIBERALIZATION CLAUSE IS ADDED, THE CHANGE DOES NOT APPLY TO INSURED UNTIL RENEWAL DATE |
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Definition
| False-the change will automatically apply, provided the implementation date falls within 60 days prior to or during policy |
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Term
| T or F-THE INSURED MAY WAIVE IN WRITING BEFORE A LOSS ALL RIGHTS OF RECOVERY |
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Definition
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