Reference no: EM132033270
All true or false
______1. If your state has no-fault insurance laws, it is not necessary for you to carry liability auto insurance.
______2. If you carry underinsured auto coverage, your company may pay claims in excess of those paid by the other driver who was at-fault.
______3. If you are injured by a driver who has no auto insurance, you will receive benefits under your personal policy if you carry underinsured coverage.
______4. Collision insurance pays for damage to your car regardless of who is at-fault.
______5. Your insurance costs will be the same regardless of where you live.
______6. An all risk homeowner's policy offers more protection than a named perils policy.
______7. An HO-1 policy offers greater insurance protection than an HO-2 policy.
______8. If you are a renter, you can purchase either HO-4 or HO-5 or HO-6 homeowner's insurance on your belongings.
______9. HO-# policies cover all risks on the dwelling and contents of a homeowner.
______10. Contents coverage is usually set a s stated percent of the face value of a homeowner's policy.
______11. Homeowner's insurance normally limits the company liability for jewelry.
______12. If you want to schedule your jewelry, you will need to add a floater to your homeowner's policy.
______13. If you have a significant stamp or trading card collection, you should schedule them on your homeowner's policy.
______14. Homeowner's insurance automatically provides for the replacement of your home if it is totally demolished in a storm.
______15. Earthquake damage is automatically included in the basic homeowner's policy.
______16. Flood insurance is covered by your homeowner's policy.
______17. If your roof is damaged by an ice storm, the insurance company will pay all costs associated with the repair, if you have actual cash value coverage.
______18. Homeowner's can add an insurance endorsement to their policy that will automatically adjust the face value for inflation.
______19. Most homeowner policies carry a coinsurance requirement of eighty (80%) per cent.
______20. The higher the deductible on your homeowner's policy, the higher the annual premium.
______21. Insurance policies include the declarations page, definitions, agreement, exclusions and conditions.
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