1. Which of the following homeowner’s policies is designed for tenants of a rent

Question

1. Which of the following homeowner’s policies is designed for tenants of a rental unit?

A. HO-2

B. HO-4

C. HO-6

D. HO-8

2. Margaret is the only insured named in the declarations of her homeowner’s policy. Which of the following persons is (are) classified as an insured under Margaret’s policy?

I. Margaret’s husband who is separated from her and lives elsewhere.

II. Margaret’s 20-year old son who lived with her until he went to college where he is a part-time student and an aspiring comedian.

A. I only

B. II only

C. Both I and II

D. Neither I nor II

Explanation / Answer

1. c. HO -4 : -Is designed for tenants who rent apartments, houses, or rooms
-Covers the tenants personal property against loss or damage and also provides personal liability insurance
-Majority of tenants are uninsured
-Especially valuable if a total loss occurs especially if peril is fire and everything is destroyed.
-Additional living expenses are paid if an insured peril renders the apartment or home inhabitable.
-Provides a min of 100,000 of personal liability insurance that covers most personal activities.

2. D Neither 1 nor 2. since none of them reside in the house .

If your spouse resides in the home, he or she is covered by personal property and liability insurance, even if he or she isn't identified in the policy.

Any individuals who live in the home are also covered by personal property and liability insurance if they are related to you (e.g., your children, an aging parent) or if they are under 21 years of age and in the care of any member of your family. So, if your son moves back in with you after college, he would be covered for personal property and liability insurance, even if she's over age 21, but a nonrelative would not

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