misc personal lines coverages

Which of the following consumers would have a personal injury liability coverage

X, who has a personal umbrella liability policy 

A mobile home insured on a mobile homeowners policy is being transported between states. Coverage for collision losses is

Provided for up to 30 days by endorsement

For flood policies obtained by homeowners through the national flood insurance program, which of the following statements is correct

The federal government oversees and reinsures all flood insurance

Under flood insurance provided by the national flood insurance program, which of the following statements regarding flood insurance is not correct

No deductible applies to loss of contents

Which of the following contract terms applies to the musical instruments floater

Covered instruments may not be played for pay during the policy term unless the insured selects a coverage option

The emergency program of the national flood insurance program (NFIP) is intended for

Communities in the earliest stages of NFIP participation

Under an earthquake policy, covered losses to the insured’s property are

Subject to a high deductible equal to a percentage of the coverage a limit 

Under a boatowners policy, which of the following is correct about the deductible

The policy’s deductible applies per occurrence

Boatowners policies typically provide which of the following coverages

Open perils coverage for physical damage to the hull and equipment

M owns a mobile home affixed to a permanent foundation. Mobile home insurance can be written

Either by writing a separate mobile homeowners policy or by adding an endorsement to a homeowners policy

The national flood insurance program (NFIP) sells flood insurance in which of the following type of communities

Participating communities

Hull coverage on a boatowners policy provides which of the following

Open perils coverage, with losses settled on an actual cash value basis

An insured is obtaining flood insurance through the NFIP, and their policy is written using the maximum available limits: $35,000 for the building and $10,000 for the contents. Which building would these limits apply to

 A single-family dwelling in the emergency program

The national flood policy would not cover losses caused by which of the following

Leakage of underground water systems

In which of the following circumstances would the insured be required to pay the self-insured retention of a personal umbrella liability policy

The umbrella drops down to act as the primary policy

An insured has coverage under the NFIP, with $500 deductibles for the dwelling and contents. The insured sustains flood damage to both their home and personal property. What sit the maximum the insured will have to pay for damages, assuming the loss is under the policy limits

$1,000

The cameras floater may be used to insure all of the following items, except

Television cameras the insured uses when hired onto film projects

When property owners seek flood insurance, private insurers in the voluntary market

May write and service flood insurance as part of the WYO program

An unendorsed mobile homeowners policy will settle losses to the mobile home on which basis

Replacement cost

Which of the following statements is true regarding the eligibility of flood insurance

In order to qualify for a federal loan, the property owner must purchase flood insurance if the property is located in a special flood hazard area

Which of the following liability coverages is provided by a personal umbrella liability policy

Personal injury liability

When an applicant wants flood insurance, which of the following best describes the authority of agents

Agents may write flood insurance coverage with NFIP, but may not bind coverage

For flood policies obtained by homeowners through the national flood insurance program, which of the following statements is correct

The federal government oversees and reinsures all flood insurance

A mobile home insured on a mobile homeowners policy is being transported between states. Coverage for collision losses is

provided for up to 30 days by endorsement

The personal articles floater is similar to which of the following homeowners endorsements

Scheduled personal property endorsement

P has a homeowners policy with a $100,000 personal liability limit and a personal umbrella liability policy with a $1 million limit. After P’s homeowners policy was canceled, a liability claim results in P being liable for $250,000 in damages for bodily injury. How does the personal umbrella liability policy respond

The umbrella policy covers $150,000 of the claim, without P needing to pay a self-insured retention

Insured who have flood insurance through the NFIP may qualify for coverage D, which provides for to $30,000 for

Costs that result from compliance with local floodplain management laws or ordinances

R has a homeowners policy and a separate earthquake policy to protect their single-family home. A major earthquake strikes the area, causing $60,000 in damage to R’s home and personal property, and there is concern about aftershocks causing further damage. Under the earthquake policy, all earth movements within what period of time are considered a single occurrence of earth movement

72 hours

The national flood insurance program defines flood to include all of the following except

Overflow of the insured’s sump pump

D owns a 75-horsepower inboard motorboat. A watercraft policy insuring motorboat would cover which of the following losses

Physical damage to the motorboat resulting from a car accident while the boat is being towed

Personal umbrella liability policies may provide coverage for losses occurring within what policy territory

Worldwide

Personal umbrella liability policies provide coverage on which basis

Excess basis

Under an earthquake policy, covered losses to the insured’s property are

Subject to a high deductible equal to a percentage of the coverage A limit

A flood damages a single-family home that is in a community in the early stages of participation with the NFIP. what is the maximum amount a resident may receive for damages to personal property

$10,000

Coverage D - increased cost of compliance on NFIP flood policy has a limit of

$30,000

A personal earthquake policy would provide coverage for earthquake damage to

Personal property

ABC company is an insurer in the voluntary property insurance market that writes and services flood insurance policies, in cooperation with FEMA and the NFIP. ABC company is able to do so through the

Write your own program

B is traveling to Europe for a month’s vacation and wants to protect personal property taken on the vacation, like clothing. Which of the following coverage options might B’s agent recommend to cover these items?

Personal effects floater

A property owner in a participating community completes the application with the NFIP and pays the first premium. Their flood policy will become effective

After 30 calendar days

In order to be eligible for flood coverage, communities must join the NFIP within what time period after being notified by FEMA that the community is in flood-prone area

1 year

Inland marine insurance is not typically used to insure which type of property

Autos

An insured owns a home located in an area that is at high-risk for earthquakes. A stand-alone earthquake would protect the insured against

mudflows

Y lives in a participating community and is able to purchase a flood insurance policy through the NFIP. Six months after purchasing the policy, a hurricane floods most of the town, including Y’s property. Losses covered by Y’s policy are paid for by

The federal government

Personal inland marine insurance primarily covers which of the following

Moveable property against direct loss

All of the following are true of a personal umbrella liability policy, except

Liability losses relating to the insured’s business are covered

Personal inland marine floaters usually contain all of the following provisions, except

Losses are settles on a replacement cost basis

H lives in an area that is particularly prone to tornadoes. All of the following statements about coverage available to H to insure against the peril of windstorm are correct, except

Windstorm coverage is typically provided without requiring a deductible

The national flood insurance program defines flood to include all of the following, except

Overflow of the insured's sump pump

After being rejected by an insurer due to underwriting guidelines, an application may request homeowners coverage through

The fair plan

D has a fine art collection insured by a fine arts floater. Which of the following statements regarding the fine arts floater is correct

If any covered art piece is transported, it must be done by competent packer

S has a sailboat covered under a boatowners policy with a deductible of $300. The hull suffers collision damage totaling $500, and later, the motor suffers a $300 fire loss. S submits two claims to the insurer. How much would the insurer cover for the losses

$200

A boatowners policy could be used to provide liability and property coverage for all of the following watercraft owned by an insured, except

A 30-foot sailboat

Under a personal umbrella liability policy, the insurers covers all of the following defense expenses in addition to the limit of liability, except

expenses incurred by an underlying insurer that defends the insured against a covered claim