Term
| T or F-FOR FARM PROPERTY INSURANCE, THE INSURED CAN SELECT ANY COMBINATION OF THREE SEPARATE SETS OF PERILS THAT ARE CONTAINED IN THE SAME FORM |
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Definition
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Term
| THE FARM DWELLINGS, APPURTENANT STRUCTURES AND HOUSEHOLD PERSONAL PROPERTY COVERAGE FORM IS SIMILAR TO______ |
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Definition
| Section I of the Homeowners policy |
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Term
| THE FARM DWELLINGS, APPURTENANT STRUCTURES AND HOUSEHOLD PERSONAL PROPERTY COVERAGE FORM CONTAINS WHAT COVERAGES? |
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Definition
1) Coverage A-Dwellings
2) Coverage B-Other Private Structures
3) Coverage C-Household Personal Property
4) Coverage D-Loss of Use
5) Grave Markers-Up to $5,000
6) Antennas and Satellite Dishes-Up to $1,000 |
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Term
| COVERAGE A FOR FARM PROPERTY COVERAGE |
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Definition
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Term
| COVERAGE B FOR FARM PROPERTY COVERAGE |
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Definition
| Other private structures appurtenant to the residence premises |
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Term
| WHAT IS THE LIMIT OF COVERAGE B FOR FARM PROPERTY COVERAGE |
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Definition
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Term
| COVERAGE C FOR FARM PROPERTY COVERAGE |
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Definition
| Household Personal Property |
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Term
| COVERAGE D FOR FARM PROPERTY COVERAGE |
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Definition
| Loss of use ex.additional living expense |
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Term
| T or F-GROWING CROPS, TREES, PLANTS, SHRUBS, AND LAWNS ARE INCLUDED FOR FARM PROPERTY COVERAGE |
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Definition
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Term
| A COVERAGE EXTENSION FOR COVERAGES A AND C ALLOWS LIMITED COVERAGE FOR TREES, PLANTS, SHRUBS, OR LAWNS WITHIN _______OF THE COVERED RESIDENCE FOR FARM PROPERTY COVERAGE. |
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Definition
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Term
| COVERAGE E FOR FARM PROPERTY COVERAGE |
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Definition
| Scheduled(property that is out of the ordinary) Farm Personal Property. Ex. property that can be covered under Coverage E include grain, poultry, livestock |
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Term
| COVERAGE F FOR FARM PROPERTY COVERAGE |
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Definition
| Unscheduled(ordinary) Farm Personal Property |
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Term
| COVERAGE G FOR FARM PROPERTY COVERAGE |
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Definition
| Barns, outbuildings, and other farm structures. |
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Term
| T or F-FOR FARM PROPERTY COVERAGE, PERILS COVERED UNDER THE COVERED CAUSES OF LOSS-BASIC SECTION INCLUDE EARTHQUAKE OR FLOOD LOSS TO LIVESTOCK. |
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Definition
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Term
| T or F-FOR FARM PROPERTY COVERAGE, PERILS COVERED UNDER THE COVERED CAUSES OF LOSS-BASIC SECTION INCLUDE DROWNING OF COVERED LIVESTOCK |
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Definition
| False-Drowning of livestock is included in the broad section of losses for farm insurance |
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Term
| T or F-FOR FARM PROPERTY COVERAGE, PERILS COVERED UNDER THE COVERED CAUSES OF LOSS-BASIC SECTION INCLUDE SINKHOLE COLLAPSE |
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Definition
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Term
| T or F-FOR FARM PROPERTY COVERAGE, PERILS COVERED UNDER THE COVERED CAUSES OF LOSS-BROAD SECTION INCLUDE WINDSTORM OR HAIL |
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Definition
| True-the broad section covers basic perils and adds additional perils |
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Term
| T or F-FOR FARM PROPERTY COVERAGE, PERILS COVERED UNDER THE COVERED CAUSES OF LOSS-BROAD SECTION INCLUDE ACCIDENTS INVOLVING LOADING OR UNLOADING |
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Definition
| True-farm insurance has some losses included in the broad section that are unique to farm risk |
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Term
| T or F-FOR FARM PROPERTY COVERAGE, PERILS COVERED UNDER THE COVERED CAUSES OF LOSS-SPECIAL SECTION INCLUDE POLLUTANTS OR CONTAMINANTS |
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Definition
| False-pollutants and contaminants are specifically excluded from open peril farm insurance |
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Term
| T or F-FOR FARM INSURANCE COVERED CAUSES OF LOSS-SPECIAL SECTION PROVIDES OPEN PERIL COVERAGE |
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Definition
| True-there are some specific exclusions |
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Term
| IF THE LIMIT OF INSURANCE ON THE DAMAGED STRUCTURE IS AT LEAST _______ OF ________ AS OF THE TIME OF LOSS, THE INSURER WILL SETTLE THE LOSS ON THE BASIS OF REPAIR OR REPLACEMENT COST |
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Definition
| 80% of ITS FULL REPLACEMENT COST |
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Term
| FOR FARM PROPERTY INSURANCE, WHEN WILL THE INSURED COLLECT FOR FULL REPLACEMENT COST COVERAGE ON THE STRUCTURE? |
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Definition
| when the repairs have been made |
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Term
| MOBILE AGRICULTURAL MACHINERY AND EQUIPMENT FORM |
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Definition
| provides for the scheduling of mobile equipment separately from other farm property. |
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Term
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Definition
| allows livestock to be covered on a scheduled or blanket basis. |
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Term
| T or F-LIVESTOCK CANNOT BE COVERED UNDER A LIVESTOCK FLOATER |
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Definition
| True-poultry can be scheduled under Coverage E |
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Term
| COVERAGE FOR FARM LIABILITY INSURANCE COVERAGE H |
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Definition
| Bodily injury and property damage liability |
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Term
| COVERAGE I FOR FARM LIABILITY INSURANCE |
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Definition
| Personal and advertising injury liability |
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Term
| COVERAGE J COVERAGE FOR FARM LIABILITY INSURANCE |
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Definition
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Term
| T OR F-LOSSES ARISING OUT OF POLLUTANTS ARE COVERED UNDER FARM LIABILITY INSURANCE |
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Definition
| False-similar to those found in other liability policies, there is no coverage for losses arising out of pollutants |
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Term
| T or F-LOSSES ARISING OUT OF INJURY TO FARM EMPLOYEES ARE NOT COVERED UNDER FARM LIABILITY INSURANCE |
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Definition
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Term
| FARM EMPLOYERS LIABILITY AND FARM EMPLOYEES MEDICAL PAYMENTS INSURANCE |
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Definition
| An endorsement that adds coverage for farm employee's medical coverage when workers comp doesn't apply |
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Term
| CUSTOM FARMING LIABILITY COVERAGE |
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Definition
| An endorsement that adds coverage for custom farming |
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Term
| T OR F-IF RECEIPTS EXCEED $5,000 IN THE PREVIOUS YEAR, THE CUSTOM FARMING LIABILITY ENDORSEMENT DOESN'T APPLY |
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Definition
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Term
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Definition
| An endorsement for farm property insurance that adds scheduled glass to the policy |
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