What Coverages Are Provided in a Homeowner's Policy? Homeowner's and renter's policies include a variety of coverage limits and exclusions. Not understanding their significance can be very costly. To remedy this situation, a local insurance agent, Michael Miller, decided to offer an urance-oriented game show on a local TV station. The show, called Know your Policy, awards each contestant who successfully answers five questions and one bonus question his or her choice of a 50inch LCD television or a $1,000 pre-paid debit card. Each contestant is also invited to switch his or her insurance business to Michael's insurance agency. It is now your turn to appear on the show and demonstrate your knowledge of your homeowner's policy. The policy has the following current limits, provisions, and endorsements: Homeowner's Insurance Policy (HO-2) Section I Part A: Dwelling $220,000 Part B: other structures $22,000 part c: personal property $110,000 Part D: Loss of use $44,000 $500 Section I deductible Section II Part E: Personal liability $300,000 Part F: Medical payments to others $1,000 Forms and Endorsements Replacement costs contents Jewelry and furs $2,500 $5,000 Earthquake and flood endansements Question 1 What is a The term used to describe the dollar amount of O Floater a physical damageclaim paid by the O Coinsurance clause policyholder. O Deductible