Exam (elaborations)
SC PROPERTY, CASUALTY, SURETY, MARINE PRODUCER - BIS CHAP 4 - DWELLING POLICY
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SC PROPERTY, CASUALTY, SURETY, MARINE PRODUCER - BIS CHAP 4 - DWELLING POLICY
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SC PROPERTY, CASUALTY, SURETY, MARINEPRODUCER - BIS CHAP 4 - DWELLING POLICY
What happens when an insured chooses Broad coverage instead of Basic coverage? -
Answers- The insured gets better, broader coverage
What endorsement adds the Named Perils listen in the acronym WC SHAVVER? -
Answers- Extended Coverage Perils Endorsement
What does WC SHAVVER stand for? - Answers- Wind
Civil commotion
Smoke
Hail
Aircraft
Vehicles
Volcanoes
Explosion
Riot
What does the Vandalism or Malicious Mischief (VMM) Coverage cover? - Answers-
Losses caused intentionally by someone other than the insured
What does the acronym FEB BOIL stand for? - Answers- Freezing
Electricity
Burglary
Breakage
Objects falling
Ice
Leakage
What two policy types add FED BOIL to the policy? - Answers- Broad and Special
What 3 Perils are included in a Basic policy at no additional cost? - Answers- Fire,
lighting, internal explosion
When can an insured add VMM coverage to their policy? - Answers- After purchasing
the Extended Perils Endorsement
What are the 5 property Coverages the insurer can select from? - Answers- A-Dwelling
B-Other Structures
C-Personal Property
D-Fair Rental Value
E-Additional Living Expenses
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