Which of the following could be covered by a homeowners policy?
Key Takeaways. Homeowners insurance policies generally cover destruction and damage to a residence's interior and exterior, the loss or theft of possessions, and personal liability for harm to others. Three basic levels of coverage exist: actual cash value, replacement cost, and extended replacement cost/value.
What are the three most common homeowner policy coverage areas?
Homeowners insurance policies generally cover destruction and damage to a residence's interior and exterior, the loss or theft of possessions, and personal liability for harm to others. Three basic levels of coverage exist: actual cash value, replacement cost, and extended replacement cost/value.
Which of the following are included in a homeowners policy?
A standard policy includes four key types of coverage: dwelling, other structures, personal property and liability. If your home is damaged by a covered event, like strong winds, dwelling coverage can help pay to repair it.
Which of the following could be covered by an unendorsed homeowners policy?
While an unendorsed homeowners policy will cover the value of basic belongings and the house itself from ordinary perils, an endorsed policy will cover any value that you stipulate against all forms of loss.
Which of the following losses would not be covered by a homeowners policy?
Many things that aren't covered under your standard policy typically result from neglect and a failure to properly maintain the property. Termites and insect damage, bird or rodent damage, rust, rot, mold, and general wear and tear are not covered.
Which of the following would not be covered by an unendorsed homeowners policy?
As with a basic car insurance policy, unendorsed homeowners insurance will not cover any loss of property value stemming from vandalism. In the event of vandalism to your house, garage or fence, you would generally need to sue the party responsible.
What are the three primary types of coverage?
- Liability coverage. Protects you if you cause damage to others and/or their stuff. …
- Collision coverage. Covers your car if you hit another car, person or non-moving object (like those darn ornamental rocks cousin Todd has at the end of his driveway). # …
- Comprehensive coverage.
Which homeowners policy provides the most coverage?
Called a comprehensive policy, an HO-5 policy offers the highest level of insurance coverage for houses and belongings. It covers your house and belongings under all circumstances except those listed as exclusions in the policy.
What are the four basic categories of coverage in a homeowners policy?
In short, homeowners insurance helps protect you, your home and your belongings from a variety of unexpected events. A standard policy includes four key types of coverage: dwelling, other structures, personal property and liability.