Principles of Risk Management and Insurance, 13th Edition

Review Questions

1. Identify the basic types of homeowners policies that are used today.

2. Identify the persons who are insured under a homeowners policy.

3. The Section I property coverages provide different types of coverages to an insured. For each of the following coverages, briefly describe the type of coverage provided, and give an example of a loss that would be covered.

   1. Coverage A: Dwelling

   2. Coverage: Other Structures

   3. Coverage C: Personal Property

   4. Coverage D: Loss of Use

   5. Additional coverages

4. a.

   1. Briefly describe the special limits of liability that apply to certain types of personal property.

   2. Why are these special limits used?

5. 1. a.

      Coverage A and Coverage B under a Homeowners 3 policy insure the dwelling and other structures against “direct physical ...