Alyssa is the owner of a 30-year-old home and is looking to buy a homeowner's insurance...
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Alyssa is the owner of a 30-year-old home and is looking to buy a homeowner's insurance policy. The previous home she owned was severely damaged by a tree falling through the roof, a peril that was not covered by her basic-form policy; therefore, she is looking to buy a comprehensive policy that covers damage from all perils (except those specifically excluded). Based on the peril coverage it offers, she should purchase an HO-2 insurance policy. e has a replacement value of $500,000; therefore, she insures her home for the standard minimum legal requirement of $ HO-3 she does not purchase any additional coverage beyond the legal minimums, complete the following table indicating the maximum dollar reimbursement she can receive for each of the following: HO-1 HO-2 e to personal property: ed buildings: HO-6 hal living expenses: HO-8 hensive personal liability: HO-4 $ Insuring While Away at College Madeline's son, Felix, is a college student living in a campus dormitory. He drives a car that he parks on the street and wants to make sure the full value is insured. Which of the following statements regarding her son's insurance needs are true? Check all that apply. bye to personer property. Detached buildings: Additional living expenses: Comprehensive personal liability: $ $ Insuring While Away at College Madeline's son, Felix, is a college student living in a campus dormitory. He drives a car that he parks on the street and wants to make sure the full. value is insured. Which of the following statements regarding her son's insurance needs are true? Check all that apply. His property is covered up to 10% of the coverage on his parents' home. He should tell the insurance agency that he parks in a garage to save money on premiums. He should purchase an HO-4 broad form Insurance policy because he is not covered under his parents' policy. Insuring a Condominium Alyssa's parents own a condominium that they fully insured for the replacement value of $300,000. Last year a portion of their roof collapsed due to the weight of snow after a severe storm, rendering the condo uninhabitable for the month that it took to complete repairs, Based on the coverage details of their condominium form Insurance policy, the additional living expenses they incur as a result of the damage (such as the cost of staying in a hotel during the repairs) Alyssa is the owner of a 30-year-old home and is looking to buy a homeowner's insurance policy. The previous home she owned was severely damaged by a tree falling through the roof, a peril that was not covered by her basic-form policy; therefore, she is looking to buy a comprehensive policy that covers damage from all perils (except those specifically excluded). Based on the peril coverage it offers, she should purchase an HO-2 insurance policy. e has a replacement value of $500,000; therefore, she insures her home for the standard minimum legal requirement of $ HO-3 she does not purchase any additional coverage beyond the legal minimums, complete the following table indicating the maximum dollar reimbursement she can receive for each of the following: HO-1 HO-2 e to personal property: ed buildings: HO-6 hal living expenses: HO-8 hensive personal liability: HO-4 $ Insuring While Away at College Madeline's son, Felix, is a college student living in a campus dormitory. He drives a car that he parks on the street and wants to make sure the full value is insured. Which of the following statements regarding her son's insurance needs are true? Check all that apply. bye to personer property. Detached buildings: Additional living expenses: Comprehensive personal liability: $ $ Insuring While Away at College Madeline's son, Felix, is a college student living in a campus dormitory. He drives a car that he parks on the street and wants to make sure the full. value is insured. Which of the following statements regarding her son's insurance needs are true? Check all that apply. His property is covered up to 10% of the coverage on his parents' home. He should tell the insurance agency that he parks in a garage to save money on premiums. He should purchase an HO-4 broad form Insurance policy because he is not covered under his parents' policy. Insuring a Condominium Alyssa's parents own a condominium that they fully insured for the replacement value of $300,000. Last year a portion of their roof collapsed due to the weight of snow after a severe storm, rendering the condo uninhabitable for the month that it took to complete repairs, Based on the coverage details of their condominium form Insurance policy, the additional living expenses they incur as a result of the damage (such as the cost of staying in a hotel during the repairs)
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Answer rating: 100% (QA)
Answer 1 HO3 policy 2 minimum legal requirement 45000080 360000 3 Damage to P... View the full answer
Related Book For
Principles of Accounting
ISBN: 978-1133626985
12th edition
Authors: Belverd E. Needles, Marian Powers and Susan V. Crosson
Posted Date:
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