Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which of the following statements about the coverage for other structures (coverage B) under the Homeowners 3 policy is true? The amount of insurance on

image text in transcribed
Which of the following statements about the coverage for other structures (coverage B) under the Homeowners 3 policy is true? The amount of insurance on other structures is equal to a percentage of the coverage on the dwelling. Structures attached to the dwelling by a fence or utility line are considered to be part of the dwelling rather than other structures. Coverage applies even if the other structure is used for business purposes. There is no coverage for a private garage if it is rented to a tenant of the dwelling. All of the following losses are subject to special limit of liability under the Homeowners 3policy EXCEPT the theft of firearms destruction by fire of property used for business purposes. storm damage to a boat at a marina. destruction of jewelry by fire

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Equity Valuation Risk And Investment A Practitioners Roadmap

Authors: Peter C. Stimes

1st Edition

0470226404, 9780470226407

More Books

Students also viewed these Finance questions