Other Types of Property Insurance

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Other Types of Property Insurance

Right answer

Right answer

Which of the following policies are sometimes called catastrophe insurance? Select 2 options.

Umbrella policy

Dwelling policy

1/10

Homeowners policy

Excess policy

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1/10

Umbrella and Excess policies are sometimes called catastrophe insurance.

Wrong answer

10 days

What is the waiting period for a flood policy? Select 1 option.

30 days

20 days

2/10

No waiting periods

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2/10

The waiting period for a flood policy is 30 days.

Which of the following losses does not meet the definition of a flood? Select 1 option.

Overflow of inland

Landslides

Collapse of land along the shore of a lake

3/10

Mudflow

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3/10

Landslides does not meet the definition of a flood.

What is the coverage limit provided in homeowners policies for damage to watercraft, accessories, equipment, and trailers? Select 1 option.

$1,000,000

$10,500

$1,500

4/10

$1,000

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4/10

The coverage limit provided in homeowners policies for damage to watercraft, accessories, equipment, and trailers is $1,500.

What is the minimum amount of additional coverage that the umbrella policy offers? Select 1 option.

$1,000,000

$10,500

$1,500

5/10

$1,000

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5/10

The minimum amount of additional coverage that the umbrella policy offers is $1,000,000.

Who sets the flood insurance rates? Select 1 option.

National Flood Insurance Program (NFIP)

Federal Insurance Administration (FIA)

Federal Emergency Management Agency (FEMA)

6/10

Federal Insurance and Mitigation Administration (FIMA)

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6/10

Federal Insurance Administration (FIA) sets the flood insurance rates.

Wrong answer

FIA

What program makes federally backed flood insurance available to homeowners, renters, and business owners? Select 1 option.

NFIP

FEMA

7/10

FIMA

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7/10

NFIP makes federally backed flood insurance available to homeowners, renters, and business owners.

Right answer

Right answer

What is an inland marine policy designed to cover movable personal property, wherever it may be located? Select 1 option.

Personal Effects floater

Personal Articles floater

8/10

Personal Property floater

Personal floater

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8/10

Personal floater is an inland marine policy designed to cover movable personal property, wherever it may be located.

Wrong answer

Personal Articles floater

What personal floater covers certain types of personal property on a scheduled basis? Select 1 option.

Personal Property floater

Personal Effects floater

9/10

Personal floater

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9/10

Personal Articles floater covers certain types of personal property on a scheduled basis.

Wrong answer

Personal Articles floater

What personal floater covers personal effects carried or worn by travelers anywhere but not while the property is at home? Select 1 option.

Personal Property floater

Personal Effects floater

10/10

Personal floater

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10/10

Personal Effects floater covers personal effects carried or worn by travelers anywhere but not while the property is at home?covers personal effects carried or worn by travelers anywhere but not while the property is at home.

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You should now feel more comfortable with other types of property insurance.

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