Section II of the homeowner’s policy provides several additional coverages. One additional coverage is called damage to the property of others. Briefly describe this coverage.
Answer to relevant QuestionsHomeowner’s insurance premiums are based on a number of factors. Identify the major factors that determine the cost of a homeowner’s policy.Many insurers now use insurance scores in the underwriting and rating of a homeowner’s policy.a. What is an insurance score?b. Why do insurers use insurance scores in underwriting and rating?Patrick has a PAP with liability limits of $50,000/$100,000/$25,000. Patrick failed to stop at a red light and hit a van. The van sustained damages of $15,000. Three passengers in the van were injured and incurred the ...Explain the duties imposed on the insured after an accident or loss occurs.a. What is no-fault auto insurance?b. What is the difference between a monetary threshold and a verbal threshold?c. Describe the major types of no-fault laws.d. List the arguments for and against no-fault auto insurance.
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