Property Insurance Quiz
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Assessment on property insurance coverage, policies, and costs.
- 1.
- A.
Insurance that protects you from the financial loss you would incur if some of your property were lost or destroyed due to fire, theft, vandalism, flood, or other hazards.
- B.
Insurance that covers damage to a vehicle.
- C.
Insurance that covers your health.
- D.
Both Band C.
- 2.What three kinds of economic losses do property insurance protect you from?
- A.
Additional living expenses
- B.
Damage to home or property
- C.
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- D.
Liability protection
- 3.Property insurance often covers additional living expenses.
- A.
True
- B.
False
- 4.
- A.
Coverage on liability stuff.
- B.
Coverage on personal stuff.
- C.
Covers claims from injuries to people or damage to property cause by you, your family, or even your pets.
- D.
Both A and B
- 5.What are perils?
- A.
Causes of loss such as fire, wind, or theft.
- B.
Death.
- C.
A loss.
- D.
Both B and C
- 6.What is the difference between real and personal property?
- A.
Real
- B.
Personal
- C.
Real property is permanently attached to land and personal property is not.
- D.
Both A and B.
- 7.What is the most common form of home and property insurance policy?
- A.
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- B.
Homeowners’ policy.
- C.
Pet policy.
- D.
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- 8.Personal liability coverage is not included with all forms of homeowners’ policy.
- A.
True
- B.
False
- 9.What are the three most common forms of homeowners’ policy?
- A.
Basic form
- B.
Love form
- C.
Special form
- D.
Broad form
- 10.What is renters’ policy?
- A.
For owners.
- B.
For pets.
- C.
Both A and B
- D.
Property and liability policy suitable for renters.
- 11.A renters’ policy may include personal liability coverage, but it doesn’t protect the actual dwelling.
- A.
True
- B.
False
- 12.Give an example of when you would need a special coverage policy?
- A.
When a flood or earthquake occurs.
- B.
When i break my back.
- C.
When i drop a glass cup.
- D.
Both B and C
- 13.What is inventory?
- A.
List of food.
- B.
List of personal property that you have insured.
- C.
List of needs
- D.
Both A and C
- 14.What three things should the inventory list include?
- A.
The brand name and description of the item.
- B.
Bye.
- C.
The purchase price.
- D.
The date and place of the purchase.
- 15.What is depreciation?
- A.
A increase in value.
- B.
A decrease in value.
- C.
Love
- D.
Hate
- 16.Special care should not be taken to correctly estimate the value of personal property.
- A.
True
- B.
False
- 17.
- A.
Insurance company’s past experiences
- B.
The value of property insured
- C.
Construction of the building
- D.
Number of claims on the property
- E.
Type of policy
- F.
Distance to the nearest fire department and water supply
- G.
Amount of deductible
- H.
Credit rating of the insured
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