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Today’s Lecture #21 Homeowners Insurance. Section I More examples Section II Coverages E and F Exclusions Examples. Example.

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today s lecture 21 homeowners insurance
Today’s Lecture #21Homeowners Insurance

Section I

More examples

Section II

Coverages E and F

Exclusions

Examples

example
Example

While painting your living room ceiling, you drop a can of paint on your couch and wood flooring. It costs $600 to get your couch cleaned and $1200 to refinish your floor.

How much does your Homeowners Policy pay?

A 0 B 350

C 950 D 1300

E None of the above

example3
Example

Someone breaks down your front door to get in your house, and then steals your $6000 (ACV) stamp collection. It costs $700 to fix the door. How much does your Homeowners Policy pay?

A 0

B 1450

C 1700

D 6450

E None of the above

section ii liability coverages page 678
Section II - Liability Coverages(Page 678)

Coverage E - Personal Liability

Defends and pays any damages insured is legally liable for, unless excluded

Coverage F - Medical Payments to Others

Pays for any injury occurring on the insured location or caused by the activities of an insured or by an animal owned by or in the care of an insured, unless excluded

examples of exclusions pages 678 681
Examples of Exclusions(Pages 678-681)

Expected or intended by the insured

Arising out of business engaged in by an insured

Arising out of the ownership, maintenance, use, loading or unloading of motor vehicles

Arising out of the transmission of a communicable disease by an insured

Arising out of the use, sale, manufacture, delivery, transfer or possession by any person of a Controlled Substance

coordination of liability and medical payments page 683
Coordination of Liability and Medical Payments (Page 683)

Liability is excess over any other insurance, including the Medical Payments coverage

example7
Example

You slide into third base in a softball game, breaking the thirdbaseman’s finger. Her medical bills are $400. You are held liable for $1250 in bodily injury damages. How much will your Homeowners Policy pay?

A 0

B 400

C 1000

D 1250

E None of the above

example8
Example

You take a job with VECTOR selling knives. During a demonstration you drop a knife on a potential customer’s foot. His medical bills are $300. The customer sues you and is awarded $2000. How much does your Homeowners Policy pay?

A 0

B 300

C 2000

D 2300

E None of the above

example9
Example

You buy giant size drink from a 7-11 and find you can’t finish it. While walking across the street, you pour the excess out. It freezes immediately. A car slides on the ice patch you created and hits a telephone pole, injuring the driver. Witnesses identify you as the culprit. You are found liable for $2500 in bodily injury and $500 in property damage to his car. How much will your Homeowners Policy pay?

answers
Answers

A 0

B 500

C 2500

D 3000

E None of the above

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