Which of the following statements about covered perils under an unendorsed HO-3 policy is true?

	a) the dwelling is covered on a named-peril basis but the other structures are covered on an open-peril basis
	b) both the dwelling and other structures are covered on a named-peril basis
	c) the dwelling is covered on an open-peril basis but other structures are covered on a named-peril basis
	d) both the dwelling and other structures are covered on an open-peril basis

Expert Solution

Option d

Named perils refer to speciifc perils mentioned in the policy such as fire, theft etc.So the HO-3 policy coveres both dwelling and other structures on an open peril basis.

Other options are hence untrue.

jeff jeffy answered 3 years ago

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