Who is an “insured” under the Homeowners Insurance Policy? Explain the purpose of Uninsured Motorist Coverage?...

Who is an “insured” under the Homeowners Insurance Policy?
Explain the purpose of Uninsured Motorist Coverage?
List four additional property coverage items included under the standard Homeowners Insurance Policy

Expert Solution

1.Homeowners insurance policy is an insurance wherein the insurance company undertakes to insure the home owner against fire, few perils of nature and theft. The insured here is the homeowner/ legal owner to the property.

The first question as per Chegg policy is answered.

jeff jeffy answered 2 years ago

2-3 Uninsured motorist coverage is one approach to the problem of uninsured drivers. a. Explain the...

2-3 Uninsured motorist coverage is one approach to the problem of uninsured drivers. a. Explain the advantages of uninsured motorist coverage in meeting the problem of uninsured drivers b. Explain the defects of uninsured motorists coverage as a technique for compensating people are insured by uninsured drivers

List four additional property coverage items included under the standard Homeowners Insurance Policy

Coverage A and Coverage B under a Homeowners 3 policy insure the dwelling and other structures...

Coverage A and Coverage B under a Homeowners 3 policy insure the dwelling and other structures against “direct physical loss.” Explain the meaning of this phrase. Coverage C under a Homeowners 3 policy covers personal property on a named-perils basis. List the various perils that are covered.

Explain the access and allocation differences between those who are well-insured, and those who are uninsured...

Explain the access and allocation differences between those who are well-insured, and those who are uninsured or under-insured.

RIsk Managment and Insurance Scott has his home and personal property insured under an unendorsed Homeowners...

RIsk Managment and Insurance Scott has his home and personal property insured under an unendorsed Homeowners 3 (Special Form) policy. Indicate whether each of the following losses is covered. (Assume the policy has no deductible.) If the loss is not covered, explain why it is not. 1. The carpet was heavily damaged when Scott left the bath tub running while he answered the telephone. 2. The home is located approximately one block from the Federal Court House and is damaged...

Carolyn owns a home with a replacement cost of $400,000 that is insured under a Homeowners...

Carolyn owns a home with a replacement cost of $400,000 that is insured under a Homeowners 3 policy for $340,000. The roof was badly damaged in a severe windstorm, and it will cost $20,000 to repair the roof. The actual cash value of the loss is $15,000. Ignoring any deductible, how much will Carolyn collect from the insurer?

John owns a home with a replacement cost of $400,000 that is insured under a Homeowners...

John owns a home with a replacement cost of $400,000 that is insured under a Homeowners 3 policy for $280,000. The roof was badly damaged in a severe windstorm, and it will cost $20,000 to repair the roof. The ACV (actual cash value) of the loss is $10,000. Ignoring any deductible, how much will John collect from the insurer? ( Use the formula)

Insurance (explain the different types of insurance coverage you need including health, life, auto, homeowners, etc....

Insurance (explain the different types of insurance coverage you need including health, life, auto, homeowners, etc. With each type of insurance coverage explain how to select the appropriate amount of insurance and the benefits/costs of such coverage) (for the last part of explaining how to select the appropriate amount of insurance and the benefits/costs of such coverage, please explain about Health insurance only )

Under an insurance policy with a coverage of $50,000/$120,000, with damages totaling $60,000 in a lawsuit...

Under an insurance policy with a coverage of $50,000/$120,000, with damages totaling $60,000 in a lawsuit ,the insured is responsible for a. $60,000 b. $10,000 c. $50,000 d. $40,000 Under an insurance policy with a coverage of $50,000/ $120,000, with damages totaling $60,000, in a lawsuit for plaintiff 1 and $10,000 for plaintiff 2 , the aggregate damages or claims in the lawsuit is. a. $60,000 b. $10,000 c. $120,000 d. $70,000 Under an insurance policy with a coverage of...

Amber has a Homeowners 3 policy. The dwelling is insured for $75,000 and the replacement cost...

Amber has a Homeowners 3 policy. The dwelling is insured for $75,000 and the replacement cost of the home is $100,000. Amber has $100,000 for Coverage E and $10,000 for Coverage F. Indicate whether or not each of the following losses is covered. If possible, determine the dollar amount of the loss that will be covered by Amber's insurance policy. Clearly identify what section of the policy is controlling and why the event is either covered or not covered. Ignore...

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