c. A nearb y creek overflows during a severe storm and floods the Smith's basement causing $15,000. In flood damage. (3 points) d. The daughter is studying abroad in Germany. Her dorm room is burglarized, and contents, with a current value of $3,000, are stolen during the burglary. (3 points) While visiting a souvenir store in Germany, the daughter loses her footing (after sampling the local German beer) and trips into a display of expensive vases. The broken merchandise is worth $5,000. She is held responsible for the accidental damage caused by her negligence. (3 points) e. Mr. Smith has a collection of stamps worth $25,000. What is the internal policy limit for theft of these stamps? (2 points) f. g. What type of insurance should he purchase for the above stamp collection? (2 points) Mr. Smith has an All-Terrain Vehicle which he uses to plow snow, haul firewood from the rear of their property, and for general maintenance on the insured premises. A neighbor child is in the Smith's backyard when Mr. Smith runs over the child with the ATV. What coverages and limits are available for this accident? (3 points) h. Mr. Smith has a gun collection valued at $30,000 which is stored in a detached garage. This garage catches on fire. The entire structure is a total loss, and the gun collection is destroyed. a. How much will be paid for the gun collection? (2 Points) i. b. What coverage amount is available for the garage? (2 points) c. What deductible applies to this loss? (2 points) c. A nearb y creek overflows during a severe storm and floods the Smith's basement causing $15,000. In flood damage. (3 points) d. The daughter is studying abroad in Germany. Her dorm room is burglarized, and contents, with a current value of $3,000, are stolen during the burglary. (3 points) While visiting a souvenir store in Germany, the daughter loses her footing (after sampling the local German beer) and trips into a display of expensive vases. The broken merchandise is worth $5,000. She is held responsible for the accidental damage caused by her negligence. (3 points) e. Mr. Smith has a collection of stamps worth $25,000. What is the internal policy limit for theft of these stamps? (2 points) f. g. What type of insurance should he purchase for the above stamp collection? (2 points) Mr. Smith has an All-Terrain Vehicle which he uses to plow snow, haul firewood from the rear of their property, and for general maintenance on the insured premises. A neighbor child is in the Smith's backyard when Mr. Smith runs over the child with the ATV. What coverages and limits are available for this accident? (3 points) h. Mr. Smith has a gun collection valued at $30,000 which is stored in a detached garage. This garage catches on fire. The entire structure is a total loss, and the gun collection is destroyed. a. How much will be paid for the gun collection? (2 Points) i. b. What coverage amount is available for the garage? (2 points) c. What deductible applies to this loss? (2 points)
