DC Homeowners Insurance 2

Question 1

Which section of a standard homeowners policy (HO-3) covers the policyholder's personal property worldwide?

Accepted Answer

Coverage C – Personal Property

Answer

Coverage A – Dwelling

Answer

Coverage B – Other Structures

Answer

Coverage D – Loss of Use

Question 2

An HO-3 policy's Coverage A covers the dwelling on an open-perils basis. What does 'open perils' mean?

Accepted Answer

All perils except those specifically excluded are covered

Answer

Only named perils are covered

Answer

Only perils listed in a schedule are covered

Answer

Coverage applies only during declared disasters

Question 3

Under a standard homeowners policy, which coverage pays for additional living expenses if the home becomes uninhabitable due to a covered loss?

Accepted Answer

Coverage D

Answer

Coverage A

Answer

Coverage B

Answer

Coverage C

Question 4

What DC-specific peril is NOT covered under a standard homeowners policy and typically requires a separate federal policy?

Accepted Answer

Flood

Answer

Fire

Answer

Windstorm

Answer

Theft

Question 5

Which homeowners policy form provides the broadest coverage and is typically used for owner-occupied dwellings?

Accepted Answer

HO-3 (Special Form)

Answer

HO-1 (Basic Form)

Answer

HO-2 (Broad Form)

Answer

HO-4 (Renters Form)

Question 6

What is the purpose of an umbrella liability policy that a DC homeowner might purchase?

Accepted Answer

To provide excess liability coverage above the limits of underlying home and auto policies

Answer

To replace the homeowners policy with broader coverage

Answer

To cover flood and earthquake losses excluded from the homeowners policy

Answer

To insure scheduled personal property at agreed value