Study sets, textbooks, questions
Upgrade to remove ads
Property and Casualty Polices/Classes of Insurance/Homeowners Polices
Terms in this set (21)
The stipulations for nonrenewing of a personal lines policy include a notice of cancellation of the policy in writing to the insured at least _________ before the effective date of cancellation.
Which of the following homeowners policies covers renter`s insurance?
In an insurance policy, which page contains information such as the insured`s name, information about risk, the date coverage begins, the premium, location of the property being insured, etc.?
Property and casualty policies are made up of the following parts
What is the main difference between the Standard Fire Policy (SFP) and the California Standard Form Fire Policy?
The SFP has 165 lines of text and the California Standard Form Fire Policy has 158 lines of text.
Property insurance policies contain many items EXCEPT:
Two policies from different insurers otherwise identical are known as:
In an insurance policy, any modifications made to the regular contract are known as:
When an insured holds more than one identical policy for the same property, but the policies differ in coverage amount or length of coverage period, this is known as:
Concurrent Policy Coverage
What method of valuation means the company will decide the replacement cost of a lost item, then subtract depreciation from it and pay the rest?
Actual Cash Value
In a standard mortgage clause, what happens in the event of a total loss?
The insurer pays the lienholder first and then the insured.
Policy revision that provides broader coverage, no premium or endorsement:
This Standard Mortgage clause states that a __________ has the right to file a claim, make premium payments, and be notified of any cancellations or non-renewals.
What is the difference between an HO 2 and an HO 4?
An HO 2 is written on a broad form basis and covers the owner of a dwelling, whereas an HO 4 is a renter`s insurance policy.
The part of the policy that contains the description of coverages provided is:
Cancellation for property and casualty policies for other than nonpayment is:
Both 30 days except auto and 20 days for auto are correct.
Mid-termination of a policy is known as:
Policy provision that gives the insurer the right to repair or replace:
When an insurer pays the full amount of a claim, based on an appraisal made at the time of the contract and the value determined before the loss occurs, this is referred to as:
A fire that is intentionally set and remains within its intended limits is:
Under personal lines insurance, dwelling insurance, which of the following perils is NOT covered on a standard fire policy?
Other sets by this creator
sec 11 contined
Sec 10 continues
Other Quizlet sets
Lecture 4: Fiscal Policy Central Banking
Ch 13 & 14 ACCT 3120
NURS12154 Pharmacology for Nursing Practice