What Do You Know About Your Homeowner's Policy? I CentSai

Question 1 /5

1. Which of the following probably wouldn't be covered under your regular homeowners policy?*

A. Costs incurred due to identity theft
B. A tree limb blowing across your yard and breaking a window
C. A delivery person slipping on your walk
D. Your pug chewing a hole in your neighbor's fence

Question 2 /5

2. You're about to take an extended vacation and are worried about a burglar breaking in and stealing your expensive electronics. You should know that:*

A. You don't need to worry because your homeowners policy covers your personal belongings up to 50 % of the insurance on your home.
B. Homeowners insurance protects the structure on the property but not the contents.
C. While your standard policy provides personal belongings coverage at 50 to 70 % of the value of the home, the coverage is for actual cash value and wouldn't be enough to replace your electronics unless you added a replacement cost rider.
D. Homeowners insurance always covers your personal possessions for their full replacement value.

Question 3 /5

3. What is a deductible on a homeowners insurance policy?*

A. The amount taken from your account each month to pay for the policy
B. A percentage taken from the policy each year to pay for claims
C. A percentage or fixed dollar amount of any loss deducted from the insurance company's reimbursement for that loss
D. A fixed dollar amount taken from each liability claim before coverage begins

Question 4 /5

4. Riders to insurance policies provide coverage for losses that are not covered under the policy itself. Which of the following would generally be covered under your homeowners insurance without an additional rider?*

A. Damage due to flooding of a local stream
B. Sewer backup into your basement
C. Your laptop stolen from your car while you're parked at work
D. $50,000 of jewelry stolen from your $400,000 home while you're out of town

Question 5 /5

5. Why might you consider insuring your home for more than what it would cost to replace it?*

A. The cost to rebuild your home is greater than its value.
B. House prices in your area are rising and you want to make sure you’re covered for the home’s value across the coming year.
C. You’re planning improvements and want to be ahead of the game.
D. All of the above

How Much Do You Really Know About Your Homeowners Policy?

Quiz - Centsai How Much Do You Really Know About Your Homeowners Policy?

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