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Author Question: Jose and Maria would like open-perils coverage on their home and their personal property. Which ... (Read 31 times)

HCHenry

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on: Jul 11, 2018
Jose and Maria would like open-perils coverage on their home and their personal property. Which unendorsed homeowners form provides this coverage?
 
  A) Homeowners 2
  B) Homeowners 3
  C) Homeowners 4
  D) Homeowners 5

Question 2

Mike and Susan built their dream home. They insured their home for its full replacement cost.
 
  They also added an endorsement that will pay up to an additional 20 percent of the policy limit in case the cost of rebuilding the home after a loss is greater than the policy limit. The basis under which Mike and Susan insured their home is called
  A) actual cash value.
  B) valued policy coverage.
  C) extended replacement cost.
  D) guaranteed replacement cost.


nicoleclaire22

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Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: D

Answer to Question 2

Answer: C


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