Aug 08, 2016 · Question 8 1 out of 1 points Which of the following is not covered by a standard homeowners' hazard insurance policy? Selected Answer: a. Earthquake Answers: a. Earthquake
Oct 29, 2019 · Listing agreement Property management plan 0 / 0.5 pts Question 8 Unanswered Unanswered Which of the following is not covered by a standard homeowners' hazard insurance policy? ... Hazard insurance Extended policy of title insurance orrect Answer orrect Answer. 8/4/2019 Ch11 Quiz: ... Course Hero is not sponsored or endorsed by any college or ...
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. Damage caused by smog or smoke from industrial or agricultural operations is also not covered.
Dec 13, 2016 · Property management plan Question 8 1 out of 1 points Which of the following is not covered by a standard homeowners' hazard insurance policy? Answers: Selected Answer: a. Earthquake a. Earthquake b. Fire c. Vandalism d. Freezing of plumbing
Taking proper care of your home can keep you from having to pay for costly repairs your homeowners insurance won't cover. 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, ...
If you own a watercraft, your policy will typically provide up to $1,000 of coverage if it's stolen from your home, but will not cover theft from another location. Additionally, most policies will provide liability coverage for crafts with less than 25 horsepower. Minimal coverage is provided for the following:
The standard homeowners insurance policy, also known as an HO-3, covers your home for multiple perils, but there are some important exclusions. Knowing what's covered and what isn't can save you a lot of money and heartache down the line. Earthquake and water damage. In most states, earthquakes, sinkholes, and other earth movements are not covered ...
Flood insurance, which also includes mudflow, must be purchased as a separate policy and is available only through the government-run National Flood Insurance Program. Other types of water damage are also excluded. If you have overflows or backups from your sump pump, sewer system or drains, your standard policy will not cover the damage.
In most states, earthquakes, sinkholes, and other earth movements are not covered by your standard policy. Earthquake insurance can be purchased as an endorsement (an addendum) for an additional fee in all states except California. Flood insurance, which also includes mudflow, must be purchased as a separate policy and is available only through ...
The same applies to any mechanical breakdown. Additionally, if your home should suffer a power outage, things like food spoilage are not covered under a standard policy. While it's not something anyone wants to contemplate, damage caused by war or nuclear hazard is not covered by your homeowners insurance.
If you have overflows or backups from your sump pump, sewer system or drains, your standard policy will not cover the damage. Coverage may be available, however, by adding a separate endorsement. Taking proper care of your home can keep you from having to pay for costly repairs your homeowners insurance won't cover.
Many things that aren't covered under your standard policy typically result from neglect and a failure to properly maintain the property.
The standard homeowners insurance policy , also known as an HO-3, covers your home for multiple perils, but there are some important exclusions. Knowing what's covered and what isn't can save you a lot of money and heartache down the line.
Earthquakes, sinkholes and other earth movements are not covered by your standard policy. Earthquake insurance can be purchased as an endorsement (an addendum) for an additional fee in all states except California.
While it's not something anyone wants to contemplate, damage caused by war or nuclear hazard is not covered by your homeowners insurance. Expenses incurred due to identity theft are also not included, but you can purchase coverage as an endorsement.
Flood insurance, which also includes mudflow, must be purchased as a separate policy and is available only through the government-run National Flood Insurance Program. Other types of water damage are also excluded.
Personal injury liability, which is designed to protect the policy owner from lawsuits resulting from nonphysical injury like defamation of character or slander, is not included in a standard homeowners insurance policy, but can be purchased separately.
Nevertheless, a standard homeowners insurance, otherwise known as HO-3, has the following sections: Hazard Insurance – Protects the structure of your property from different types of peril. Additional Expenses – Provides coverage in case you incur added expenses if you cannot live in your property while it is being repaired.
Hazard insurance is, in fact, just a subsection of a homeowners insurance policy .
In general, however, most standard homeowners policies provide six basic types of coverage.
In a named perils policy, hazard insurance will only pay out when a hazard specifically named in the policy occurs. For most named perils policies, there are 16 standard perils that are included:
With the actual cash value method, your insurance company will deduct depreciation from the replacement cost for your claimed items, meaning you’ll receive less if you have a claim. However, actual cash value policies typically come with lower premiums, so policyholders can save money each month on their insurance costs.
d. it means the elevation of the property is above sea level. a. it means the probability of a flood occurring in any given year is 1 percent or greater. Rating Erin's flood insurance policy is relatively simple, because Erin's community currently qualifies for flood insurance under the emergency program.
The flood covers two or more acres of normally dry land area or two or more properties, one of which must be the insured's property. d. The flood covers two or more acres of normally dry land area or two or more properties, one of which must be the insured's property.
Because the garage is at a slightly lower elevation than the house, flood waters damage the garage but do not reach the house. Kendrick's standard NFIP flood insurance policy. a. covers Kendrick's garage under Coverage A (building property) because it is an attached appurtenant structure.
At a later meeting, Christa is shocked to discover that the flood policy, known as an RCBAP, does not cover flood damage to.