Term
| HOMEOWNER ENDORSEMENT EARTHQUAKE T or F-THE ADDITIONAL PREMIUM CHARGED FOR EARTHQUAKE ON A MASONRY HOUSE IS USUALLY THE SAME AS THE PREMIUM CHARGED ON A FRAME HOUSE |
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Definition
| False- The type of construction of the dwelling is a significant factor. masonry rates are usually much higher than frame rates. |
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Term
| HOMEOWNER ENDORSEMENT INFLATION GUARD |
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Definition
| Automatically raises the limits for coverages A(dwelling), B(other structures), C(personal property), D(loss of use) at periodic intervals |
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Term
| HOMEOWNER ENDORSEMENT PERSONAL PROPERTY REPLACEMENT COST |
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Definition
| Provides that the policy will reimburse losses to personal property on a replacement cost basis rather than actual cash value |
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Term
| HOMEOWNER ENDORSEMENT ORDINANCE OR LAW |
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Definition
| covers the additional loss that may result from any ordinance or law regarding the construction, repair, or demolition of property |
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Term
| T or F-TEN PERCENT OF THE COVERAGE A LIMIT IS ALREADY PROVIDED AS ADDITIONAL ORDINANCE OR LAW COVERAGE. |
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Definition
| True-endorsements may be used to purchase higher amounts of coverage |
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Term
| HOMEOWNER ENDORSEMENT SINKHOLE COLLAPSE |
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Definition
| additional premium, actual physical damage caused by sudden settlement or collapse of the earth supporting property created by the action of water on limestone |
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Term
| HOMEOWNER ENDORSEMENT CONDOMINIUM |
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Definition
| HO-6 provides broad form coverage, but an endorsement may be used to provide owners with special coverage |
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Term
| HOMEOWNER ENDORSEMENT SEWER BACKUP |
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Definition
| Additional premium, provides up to $5,000 for losses caused by sewer backups. |
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Term
| T or F-A HOMEOWNERS POLICY WITH A SEWER BACKUP ENDORSEMENT INCLUDES A SPECIAL DEDUCTIBLE OF $250 |
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Definition
| True-only for the sewer backup endorsement |
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Term
| HOMEOWNER ENDORSEMENT HOME BUSINESS INSURANCE |
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Definition
| Provides both business property and liability coverage for home businesses |
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Term
| HOMEOWNER ENDORSEMENT IDENTITY FRAUD EXPENSE |
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Definition
| Provides reimbursement of expenses incurred as a result of identity theft. includes legal fees |
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