17. All the following statements concerning homeowners policy endorsements are c

Question

17. All the following statements concerning homeowners policy endorsements are correct

EXCEPT:

A The scheduled personal property floater can be used to broaden coverage on stamp and coin collections.

B. The inflation guard endorsement increases property limits according to an annual percentage stated in the endorsement.

C. The personal property replacement cost loss settlement endorsement changes the loss settlement basis for most types of covered personal property.

D. The personal injury endorsement provides bodily injury liability coverage for insureds who operate a day care center.

18. Methods of risk identification relevant for households or small businesses include all the following EXCEPT

A. financial statement analysis

B. prioritizing insurance coverages

C. personal inspection

D. using risk and insurance survey forms

19. Temporary medical insurance is designed for all the following groups of individuals

EXCEPT

A. persons traveling abroad

B. persons between jobs

C. persons waiting for group coverage to become available

D. recent college graduates looking for employment

Explanation / Answer

1. All of the following statements concerning homeowner’s policy endorsements are correct EXCEPT a. The inflation guard endorsement increases property limits by an annual percentage selected by the insured. TRUE b. The home day-care coverage endorsement is appropriate for a person conducting a home day-care business for older adults. TRUE c. The personal property replacement cost loss settlement endorsement changes the loss settlement basis for most types of covered personal property. FALSE These have a limited coverage d. The earthquake endorsement provides coverage subject to the same deductible that applies to other covered perils. TRUE

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