Home Insurance I.Q.- Where do you score?

1) If your home insurance policy replaces your items up to Actual Cash Value (ACV) in the event of a covered claim, depreciation can become a factor and your items will only be replaced up to the value they were at the time of loss.

2) If you cancel your home insurance policy mid-term, you are responsible for paying the remainder of the premium.

3) If a nearby body of water floods your home during a hurricane, your homeowners insurance will cover the damages.

4) Dwelling coverage is partially calculated by multiplying local construction costs by:

5) Most home insurance companies offer discounts for all of the following except:

6) Medical Payments Coverage (MedPay) is part of a standard homeowners insurance policy that will pay for your medical bills in the event that you are injured on your property and you don’t have medical insurance.

7) Your home insurance deductible is the amount you will pay out-of-pocket in the event of a claim.

8) A person who rents out their home to a tenant must have a separate Landlord Policy for their property.

9) All of the following situations would typically be covered under a standard homeowners insurance policy except:

10) If your home is damaged in a covered peril, your homeowners insurance company will provide reimbursement, up to the limits set in your policy, for you to live somewhere else while your home is being repaired.