the scheduled personal property endorsement quizletsecondary containment requirements osha

A. A better solution. Samuel has the 2011 edition of the ISO homeowners policy. Installment Sales Floater The Tuttles are willing to compromise on insurance coverage to reduce their expenses in maintaining the home. A) damage to the neighbor's yard. Personal belongings coverage includes items stored off-premisesthis means you are covered anywhere in the world. Which of the following is true concerning the Home Day Care Coverage Endorsement to the Homeowners Policy? For instance, if your policys dollar limit is $4,000 for all your valuables but their total value exceeds that amount, youll need to purchase a scheduled personal property endorsement to have your valuables fully covered. B. Insects Scheduled Personal Property Definition - Investopedia explosion The election process for the Academy Awards (for films) involves several stages and several different voting methods. Scheduled personal property. The coverage limit for jewelry is $10,000 (no per-item limit) and is subject to the policy deductible (the amount you'll have to pay before insurance coverage kicks in). Scheduled personal property goes beyondthe coverage offered instandard homeowners' policies. If it suffered extensive damage and had to be replaced, the replacement value might substantially exceed its market value. C. homes Which of the following is not one of these duties? Scheduled Vs. Unscheduled Personal Property Coverage | Grange Insurance Association Grange Insurance Association's (GIA) Annual Policyholder Meeting will be held on Monday, March 20, at 10:00 a.m. The diamond fell out of its setting and was lost. A. affective events theory Sandra, Lynn, and Carole inherited their family home from Mrs. North. C) the neighbor's medical expenses. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site. Which statement is false? $1,500 for loss by theft -- Jewelry, watches, furs, precious and semiprecious stones are covered up to $1,500 for loss by theft. Residence Employee -- A Residence Employee might be either an inside domestic servant or an outside premise maintenance employee. A. warehouses For a homeowners policy, which one of the following statements about insuring personal property normally kept at a residence other than the residence premises is CORRECT? 80% --- If Coverage A is less than 80% at the time of a loss to the dwelling, a penalty will be applied to the partial dwelling loss claim payment. includes: no, because damage to trees, shrubs, plants, or lawns is not covered if caused by a windstorm. | Allstate An insurance endorsement is a change to your insurance policy, such as an addition of coverage. An unscheduled property floater is an addition to an existing property insurance policy to cover items that have not been individually itemized or valued. What are the implications of your statistical conclusions in terms of driving safety recommendations? Mr. Yerby purchased a homeowners policy to provide insurance for personal liability and the belongings in his apartment. B. negative state affect Special coverage for jewelry and other valuables - III What is Farm Personal Property Insurance - amfam.com A floater can be used to insure each of the following except: Her agent recommends a. Jack and Jill are vacationing at a golf resort when a thief enters their room and steals a laptop computer, golf clubs, cash, and clothing. B. Insects and vermin An insured has how many days grace period to get most Floater items scheduled? This year, $500,000\$ 500,000$500,000 is to be distributed. B. salespersons' samples, Marine Transportation Insurance covers: Which of the following statements about coverage under the federal flood insurance . If an expensive painting and an antique chair are stolen from the insured's home, what will the insured receive on the claim under that endorsement? D. Installation Floater, Tourist luggage is insured by which floater? A complete list or inventory of your personal property and its total value will help you decide how much coverage is adequate and make filing claims easier. replacement cost coverage is available by endorsement, for an additional premium. A. ships' cargo How was this claim paid? D. Breakage, Fundamentals of Financial Management, Concise Edition, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Fundamental Financial Accounting Concepts, Alvin A Arens, Mark A Beasley, Randal J Elder. What does the representative tell them? Coverage D of a Homeowners Policy includes loss of income from an incidental business -- Coverage D does not cover loss of income from an incidental business. Determine the number of times interest charges are earned for 2014 and 2013. Understanding Home Insurance | Mass.gov Which coverage applies under an Ocean Marine policy when cargo is jettisoned to save the ship? What limitations, if any, apply to cash and securities? On dry pavement, the standard deviation is 16 feet. Read our, Definition and Examples of Scheduled Personal Property, Pros and Cons of Scheduled Personal Property, Answers to Common Homeowners Insurance Questions, What You Need To Know About Hurricanes and Insurance Coverage. Today, it's replacement value is $60K. Property damage of another caused by the insured, The comprehensive HO-5 policy is a _____ perils contract on personal property, structures on the premises set apart from the dwelling by a clear space, What is not covered by coverage B - other structures, - does not cover other structures rented to others for other than a use as a private garage Physicians and Surgeons Floater B. single family homes A. The pair of earrings cost $15,000 and was recently valued at $20,000. Determine the earnings per share for Years 13. On Halloween night a group of pranksters spray-painted graffiti on Sebastian's garage door. D) damage to the neighbor's clothing. sailboats She purchased the necessary lumber and it's piled in her back yard. The land on which the dwelling is located unendorsed HO policy, there's not enough premium to handle the multitude of events that can cause a substantial loss of value to collectible stamps and coins. C. is an unscheduled blanket policy. The peril of theft is automatically included in all homeowners policies, whether theft occurs on the insured's premises or not, The permitted incidental occupancy endorsement, Deletes exclusions in the policy pertaining to a business conducted on the resident premises B. CH. 5 Homeowners Flashcards | Quizlet She resides in one unit, her parents in another unit, and each of her three siblings lives in their own unit. A scheduled personal property endorsement is an endorsement that allows certain property which might not be covered by a standard homeowners' insurance policy to be covered. B. covers private art works. Describe five common fees assessed on credit card accounts and how they can be avoided. How big are the banks excess reserves? occupancy (no more than 4), A homeowners policy insures the personal property of, - the named insured The dollar amount might not adequately cover the cost of replacing your valuables, so youll need scheduled personal property coverage. People with collections that are valued at more than the maximum coverage amount should consider supplementalscheduled property coverage. Scheduled personal property coverage is an insurance rider (also known as an endorsement) homeowners can add on to their existing policy to get more protection for their valuables. is the worlds leading manufacturer of construction and mining equipment. C. Residence employee -- An employee of an insured whose duties are related to the maintenance or use of the residence premises It extends Section II coverages to the insured's home day care business The following are all additional coverages under a Homeowners Policy, except: Governmental Action - Governmental action is an exclusion; not an additional coverage. Texas Department of Insurance. 70% of the replacement cost. C) Scheduled personal property endorsement. Bart's homeowners policy will cover all of the following expenses related to this incident EXCEPT: B. ocean marine, Which peril is covered by a scheduled personal property endorsement? A neighbor is injured while helping the insured install a carpet --- First Aid Expenses Coverage applies to first aid to others caused by Bodily Injury covered under the policy, but does not pay for first aid to an insured. It may provide protection in the event of a covered loss, such as theft or fire. Their homeowners policy imposes certain duties on them when a loss occurs. A. D. Lumber in the insured's yard to be used to build a deck off the kitchen. A. Dwellings under construction are covered for theft Also known as scheduled personal property coverage, this is a way to raise the coverage limits of specific high-value items, such as valuable family heirlooms, that you own. The agent recommends either the HO 2 Broad Form or the HO 3 Special Form. chapter 12 p and c course Flashcards | Quizlet B. an open perils (all-risk) basis. A. replacement cost Borrowed property meets the definition of contents Question 54 of 63 They ask their agent if there is sufficient coverage under their standard homeowners policy for these high value items, and, if not, what is the best way to insure them. Definition and If You Need It, Fire Insurance: Definition, Elements, How It Works, and Example, Rider: Definition, How Riders Work, Types, Cost, and Example, Personal Property: Definition, Examples, and Role in Insurance. Collapse (Is included in HO-2, 3, 4, 5, and 6, Which of the following coverages applies to personal property owned or used by an insured and is included in all homeowners policies. Chloe moved from a spacious home to a smaller condo unit and stored some of her furniture in an off-premises storage unit. Under a Homeowners policy, Coverage B is what percentage of Coverage A? What Is an Insurance Endorsement? | Allstate D. Private structures owned by the insured at other locations. Insurers calculate actual cash value by taking the replacement cost and accounting for depreciation of the item. Scheduled Personal Articles Insurance Coverage, Other structures that are not attached to your house, including fences and storage sheds, Additional living expenses if you move out of your house (loss of use coverage), Medical bills for someone injured on your property. theft, Additional coverages found in all homeowners forms include, Debris removal Scheduled personal propertyalso called an endorsement, floater or rideris an optional coverage to your homeowners insurance policy (or a renters or condo policy) that provides more. Its only after a loss that many people realize they should have purchased replacement cost coverage or increased their coverage amounts. On what basis was the loss settled? claim expenses The coverage for Damage to Property of Others pays the replacement cost of the property damaged up to $1,000 per occurrence for landlord . D. Art on exhibition, Which floater covers a heating/air conditioning dealer putting a new furnace system in an office building? Molly also has a $2,500 scheduled personal property endorsement covering her jewelry. Which statement is true concerning Section II of a Homeowners Policy? The definition also includes a person who performs similar duties elsewhere that are not related to any business of the insured, such as a person hired to paint the insured's house, as so long as the insured doesn't own a business that paints houses. What endorsement is used to provide open-perils coverage on a specific expensive piece of personal property? Bicycle floater A. B. C. positive state affect She knows the furniture in her condo unit is covered as personal property under her homeowners policy but wants to know if the stored furniture is also covered and, if so, do any coverage restrictions exist. D. Any person legally responsible for watercraft owned by an insured. C. Payment under Damage to Property of Others is made regardless of negligence What Is Personal Property Coverage? | Allstate C) The criminal, the crime, a police officer and a court of law. Scheduled personal property is a supplemental insurance policy that extendscoveragebeyond the standard protection provided in a homeowners'insurance policy. What is Scheduled Personal Property? | Bankrate Which of the following is true regarding the HO-3 (Special Form)? For more jewelry. Broad perils coverage - These two Forms provide Broad Form Perils Coverage. Coverage A under the Homeowners Policy includes coverage for which of the following? By purchasing a scheduled personal property policy, owners can ensure full coverage of expensive items, such as jewelry, in the event of a claim. The replacement value of the home is $450,000. A model airplane - A model or hobby aircraft is covered unless it is designed to carry people or cargo. C) Scheduled personal property endorsement. D. Replacement cost, A person who owns jewelry worth over $50,000 should get a: Per person -- Medical payments coverage for all types of policies pays on a 'per person' limit, When the property has been vacant for 60 consecutive days -- Since vacant property possesses a higher susceptibility to being vandalized, the policy excludes vandalism coverage when insured homes are vacant for 60 days or longer. Structures that are set apart from the dwelling by a clear space A rare and expensive gun was stolen from it. The coverage will pay for any increase in living expenses required to maintain the insured's normal standard of living - Coverage D is intended to pay only the increase in the insured's normal living expenses occasioned by the loss. Iacouva Company reported the following on the companys income statement for 2014 and 2013: a. Covered up to 10% if kept at a location other than the main residence, True or False Learn about what is typically covered in a renters policy and additional coverages you may want to consider. pools Under the HO-4 and HO-6, personal property is covered on which basis? A. domestic transportation shipments The Balance uses only high-quality sources, including peer-reviewed studies, to support the facts within our articles. After cooking dinner, he turns off the gas to the grill. D. Installation Floater. Yvette's diamond ring is listed in the schedule of the Scheduled Personal Property Endorsement (HO 04 61) attached to her homeowners policy. Select the person who is not considered an insured under an HO-3 policy? Kevin came home from work to find that his house had been vandalized. Albert's homeowners policy provides open perils coverage on his home and named perils coverage on his personal property. Types of Homeowners Insurance (Policy Forms) | Credible Coverage for a day care employee - Injury to any employee arising out of the day care business is not covered. What Coverage C special limit of liability applies to the loss? True or False? What Is Scheduled Personal Property? - The Balance 13 Q Personal Articles $0 A standard homeowners insurance policy covers your personal property up to a specific limit. A Fine Art Floater: B) $500.00 Loss settlement is based on the actual cash value up to the amount listed on the endorsement. D. provides named peril coverage. What is the amount of the dividend s in arrears? C. buildings A. An additional insurance coverage, known as scheduled personal property, can help provide greater protection for some of your most valued belongings. The stone could be replaced for $1,700. Which of the following is not true concerning Section II of the Homeowners Policy? personal property of roomers or boarders is excluded under the homeowners policy. Personal Property Replacement Cost Loss Settlement. The Section I deductible does not apply to property covered under the Scheduled Personal Property Endorsement - The Scheduled Personal Property Endorsement has no deductible. Water damage A. You can add this endorsement to either a schedule or blanket farm personal property insurance plan to give you additional coverage from $5,000 to $100,000. 1,500 for jewelry; $2,500 for theft of firearms. B. Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Jack and Jill contact their homeowners insurer and ask the claim representative whether they are covered for this loss. On what form is Albert's homeowners policy written? The following options are available to the insurer EXCEPT: Pay the total cash value of the pair of earrings prior to the loss divided by two. If her ring is stolen, the insurer will pay (given a $250 deductible)? non-owned vehicles Marilyn and Dan live in an apartment. Sandy and Stewart had a fire loss, and the insurance company reimbursed them for their damaged personal property. If the cost to repair or replace is less than five percent of the dwelling limit and less than $2,500, the holdback requirement does not apply. Which would NOT purchase a bailee's floater? Most Personal Articles Floaters are written on: The peril causing this loss is malicious mischief. Liability Coverages are set forth in Section II of the Policy. Of the following statements concerning Homeowners policies, which is correct? The amount of insurance provided to cover personal property of a Homeowners Policy is what percentage of Coverage A? A. breakage What are the main advantages to the insured if the homeowners policy is a package policy? A standard homeowners insurance policy covers personal items up to a specific dollar limit, beyond which an insurance company wont compensate you in the event of a loss. What coverage on her homeowners policy will pay for the necessary increase in living expenses she incurs because of her evacuation by a civil authority? Under what section of her homeowners policy is the pool insured, if at all? Complete the table to find the single deposit investment amounts. The different classes of property that are eligible for coverage . Renters Insurance Coverage and Policies | Allstate Renters insurance can do more than help protect your property. Mrs. Zabinski's homeowners policy is written on a form HO-6, Unit-Owners Form. Which type of liability limit applies to Medical Payments coverage? The Damage to Property of Others duplicates coverage that is included in Section I ---- The Damage to Property of Others Additional Coverage supplements the Property Damage Liability Coverage by providing limited Coverage for damage, caused by the insured, regardless of negligence. In the research study, 16 automobiles traveling at the same speeds are tested for stopping distances on wet pavement and then tested for stopping distances on dry pavement. & \$74,850.00\\ An insurance rider expands your coverage or protects against risks that are not covered by a standard homeowners insurance policy. How much money would she have to earn each year before it was considered a business activity under a homeowners policy? If the shrubs in front of a house burn when the house catches fire, how much is the insured entitled to recover for the shrubs under his HO-3, 5% of the limit of Coverage A with a maximum of $500 for any 1 shrub, In the HO-4 and HO-6, the limit for trees, shrubs, or plants is __% of the coverage C limit or a maximum of $___ for one tree, plant, or shrub. Coverage B: Other Structures Which of the following statements BEST describes the homeowners endorsements that are used to provide coverage for fungi, wet or dry rot, and bacteria? What is Scheduled Personal Property? Members of the family under the age of 24 living at school away from the home With respect to Jack and Mary's homeowners policy, the rental property would be considered which of the following? Occurrence -- An accident, including exposure to conditions that result during the policy period in bodily injury or property damage He is concerned that his homeowners policy will not provide enough coverage. Scheduled personal property is a supplemental insurance policy that extends coverage beyond the standard protection provided in a homeowners' insurance policy. The personal injury liability endorsement to a HO policy to all the following EXCEPT: A. Slander B. \text{Future Value} & \text{Rate} & \text{Time} & \text{Deposit (to nearest cent)}\\ Which of the following property is covered under the Homeowners Policy? Chapter 4: Homeowners Flashcards | Quizlet Scheduled personal property endorsement Crew of ships are covered by the? B. mariners Choose the true statement concerning Homeowners Policies. Under what coverage part of her homeowners policy is the lumber insured? C. Borrowed property meets the definition of contents Homeowners' Endorsements- the Details Make the Difference

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