Which of the following are covered by homeowners insurance? (2024)

Which of the following are covered by homeowners insurance?

A standard homeowners insurance policy provides coverage to repair or replace your home and its contents in the event of damage from a covered loss, including fire, smoke, theft, vandalism, or a weather event such as lightning, wind, or hail.

What does a homeowners insurance policy cover?

Key Takeaways. Homeowners insurance policies generally cover destruction and damage to a residence's interior and exterior, the loss or theft of possessions, and personal liability for harm to others. Three basic levels of coverage exist: actual cash value, replacement cost, and extended replacement cost/value.

What coverage under a homeowners policy would cover?

Coverage for your personal belongings

This covers things inside your home like furniture, clothes, sports equipment, and other personal items that are stolen or destroyed by fire, hurricane, or other insured disasters. The coverage is generally 50 to 70 percent of the insurance you have on the structure of the house.

Which of the following is not covered by most homeowners insurance plans?

The most common exclusions to a homeowners insurance policy are related to large-scale disasters, such as floods or war; damage due to negligence or normal wear and tear; and inherently risky items, such as trampolines. But you can buy additional coverage to protect those things.

What is typically covered in a homeowners policy quizlet?

Typical homeowners insurance policies offer coverage for damage caused by fires, lightning strikes, windstorms and hail. But, it's important to know that not all natural disasters are covered by homeowners insurance. For example, damage caused by earthquakes and floods are not typically covered by homeowners insurance.

What do most homeowners policies cover?

Typical homeowners insurance policies offer coverage for damage caused by fires, lightning strikes, windstorms and hail. But, it's important to know that not all natural disasters are covered by homeowners insurance. For example, damage caused by earthquakes and floods are not typically covered by homeowners insurance.

What disaster is typically not covered by property insurance?

Earth movement, landslide, tremors, mudslide or earthquake caused by a volcano is not usually covered under homeowners insurance.

Which of the following losses is not covered by a standard homeowners policy?

But, flood damage and earthquake damage are NOT covered by a standard homeowners policy. A separate policy is required.

Which of the following would be covered by a home insurance policy quizlet?

Most home insurance policies include coverage against fire, theft, and other hazards for your home and other structures, and personal property. In addition, policies cover additional living expenses, personal liability, medical payments, and supplemental coverage for minor property damage mishaps.

Which statement about homeowners insurance is true?

The statement about homeowners insurance that is true is:

Homeowners insurance policies vary in terms of premiums and deductibles. Premiums are the monthly payments made to the insurance company, while deductibles are the amount the policyholder must pay out of pocket before the insurance company covers any losses.

What not to say to homeowners insurance adjuster?

Admitting fault: Using apologetic language is enough for the insurance adjuster to assume you're admitting fault and use that against you. Even if you feel you're at fault, wait for the official investigation to prove what actually happened. Don't say things like “I'm sorry” or “it was my fault.”

What is excluded on a homeowners policy?

Common exclusions in even the most comprehensive homeowners policies include: earth movement, such as earthquakes; sinkholes or landslides that damage your home; water damage, such as floods or sewer back-ups that leak through a pipe or seep through the foundation causing damage to your home; damage resulting from ...

What do most basic homeowners policies do not provide coverage for?

Standard homeowners policies do not cover flooding, earthquakes or poor maintenance. Flood coverage is provided by the federal government's National Flood Insurance Program, although it is purchased from an insurance agent. Earthquake coverage is available either in the form of an endorsem*nt or as a separate policy.

What are the three major parts of a homeowners policy?

What is the most common homeowners insurance policy called?

The HO-3, also known as a "special form," is the most common homeowners insurance policy form, says the National Association of Insurance Commissioners. An HO-3 offers "open peril" coverage for the structure of your home.

What is the most important part of homeowners insurance?

The most important part of homeowners insurance is the level of coverage. Avoid paying for more than you need.

What types of insurance are not recommended?

What risks are generally not covered by insurance?

An uninsurable risk could include a situation in which insurance is against the law, such as coverage for criminal penalties. An uninsurable risk can be an event that's too likely to occur, such as a hurricane or flood, in an area where those disasters are frequent.

Which two types of natural disasters are not normally covered in a homeowners policy?

Which two perils are not covered under a standard homeowners insurance policy?

Perils Generally not covered by a Homeowners Policy if Damage is caused by: Flood. Earthquake. Earth movement.

What are four major exclusions found in homeowners insurance policies pertaining to real property?

Standard homeowners insurance does NOT cover damage caused by flooding, earthquakes, termites, mold, or normal wear and tear. Learn about all the different home insurance exclusions and how to get covered.

What losses are not insurable?

Potential for Catastrophic Loss – this applies to non-insurable risks like war, nuclear hazards or even earthquakes. When one of these types of catastrophic losses occur, the amounts insurers could be liable for paying are so high that it would put them out of business or severely shake their financial stability.

Which of the following losses would not be covered under comprehensive coverage?

For example, comprehensive can cover damage from fire, theft, vandalism, windstorm, flood, falling objects, etc. It does not cover mechanical breakdown, normal wear and tear, or maintenance.

Which 3 of the following risks are covered by home owner's insurance?

Homeowners insurance helps cover the costs to repair or replace your home and belongings in the event they are damaged by covered threats like fire, theft and severe weather.

What does homeowners insurance not cover quizlet?

HO policies do not cover land on which the property is located. A Property of tenants, roomers, or boarders not related to any insured.