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50 Cards in this Set

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If you go away on vacation and there is a loss caused by freezing pipes in your basement, are you covered?

Yes.


If turned off the water and drained the appliances or arranged for a competent person to enter the dwelling daily (PG. 11-12)

If a civil authority prohibits access to your premises due to damages to neighbouring premises are you covered?

Yes. up to 14 days (PG. 70)

What is the maximum amount the Comprehensive Homeowners policy will pay for the fire damage to a tree?

$500 (PG. 4 A-4)

Until what age is a student living away from home considered an "insured" under their parent's policy?

No age limit (PG. 2)

Are you required to pay a deductible on items where a special limit applies?

Yes. A deductible is payable - the deductible amount comes off the total amount of the loss then the special limit is applied (PG. 14)

Is a boat scheduled (listed) on a watercraft floater covered when used once a year in a race?

Yes. Except while racing (PG. 51 #3)

How much is unscheduled watercraft covered for in the event it burns in a cottage boathouse fire?

$1000 (PG. 5 #5)

If your friend moves in to share the cost of your apartment, is his/her contents covered under your policy?

No. (PG. 4)

For liability purposes, the definition of premises includes premises where you are residing temporarily except under what circumstances?

1. if you are the owner


2. the premises are being rented under an agreement of more than 90 days


(PG. 17)

How much are bicycles covered for if they are burned in a fire?

Up to their full value when destroyed by the peril of fire (PG. 6 #12)

If there is more than one policy covering a house, how would the loss be settled?

Each contributes each ratable share (PG. 16)

In the event of a loss to collector items, will you be able to get replacement cost on them?

No. (PG. 16)

When will an insurance company NOT waive its right to subrogate against the Directors and Officers of the Condominium Corporation?

Except in the case of arson, fraud or vehicle impact (PG. 16)

If the Condo Corp Master policy is invalid or inadequate, how much will the Condo Unit Owners Policy pay for damage to common areas that you get assessed for and for damage to your unit?

Up to $10,000 or more if purchased (Common areas)


Up to $100,000 (condo unit)

What is the maximum amount the Condo Unit Owners Policy will pay for improvements and betterments? Can more be purchased?

100% of A1 ($100,000)


Yes - Can buy more coverage

Is there coverage for contents while moving? If so, how long and what locations?

Yes. for up to 30 days

What are the three basis of claim payment an insurer may use to settle a claim on a house or outbuildings?

A. Actual cash value


B. Replacement cost


C. Guaranteed Replacement Cost

What three perils drop off as soon as a building is vacant?

1. Glass breakage


2. Water escape


3. Vandalism

When does all coverage drop off a vacant dwelling?

30 days

What are the 7 perils covered by a vacancy permit?

1. Fire & Lightening


2. Explosion


3. Smoke


4. Falling Objects


5. Impact with air and land vehicles


6. Riot


7. Windstorm or hail

Are the actions of a named insured who does not live on the premises described in the declarations, covered?

No (PG. 19)

What section of the policy covers watercraft if it is not scheduled on a watercraft floater? For how much?

Property (PG. 5) Up to $1000

If you lose one of your diamond earrings that were purchased for $3000 and they can't be replaced as the setting was unique, will your insurer buy you a new pair of earrings? What about if they were scheduled on a personal articles floater?

No (Additional Conditions) - Pair and Set (PG. 63)

What section of the Homeowner's Policy covers in-ground swimming pools?

Coverage A (Dwelling/Building)

To repair an air conditioner, walls have to be torn out. Would this be covered by the Homeowner's Policy?

No - must result from insured peril (Pg. 9 # 10)

If Dwelling Building is coverage A and personal property is coverage C, what is Liability?

Section 2, coverage E

If you have jewelry insured on a personal articles floater and you purchase a new ring for $7500 while on vacation is it covered if you lose it five days after purchasing it? If so, for how much?

Not fully covered - Only for $5000 (PG. 50)

If an insured chooses not to rebuild on the same location, what would be the basis of claims settlement?

Actual Cash Value

Does the Homeowner's Policy cover liability arising from the use of an owned aircraft?

No. (PG. 26 #10)

Would a residence employee be covered if he was injured on your premises due to no negligence on your part?

Yes. Could use Voluntary Compensation for Residence Employees

What must you do when something takes place and you believe that there may be a liability claim?

(PG. 20): Promptly give notice to insurance company including:


a. Date/time/place/circumstance of occurrence


b. Names/addresses of potential witnesses and claimants


Also:


a. cooperate in legal actions


b. immediately send legal documents /communications

Are you covered for a claim arising out of the use of an aircraft?

No. (PG. 26 #10)

Can you claim Voluntary Medical payments for a residence employee?

Yes. (PG. 22) Coverage H - Voluntary Compensation for Residence Employees

You have Guaranteed Replacement Cost on your building and you renovate your home over a period of three months. The total value of the renovations is $10,000. 10 days after you have completed the renovations there is a fire and the entire house burns down. Is there coverage for the renovations?

(PG. 14) Guaranteed Replacement cost:


Renovations up to $5,000 started in the last 30 days

What is covered by Sewer Backup/Water Escape coverage?

(PG. 57)


loss or damage to the insured property caused by water entering the insured dwelling as a result of accidental escape of water from a sewer, storm drain, sump, septic tank, eaves trough or downspout, or from the melting of ice or snow on the exterior of the roof

You have a secondary dwelling which is insured for $50,000 and a detached shed which is valued at $10,000. In the event of a total loss of both buildings what is covered on the policy?

Up to $50,000 maximum (PG. 30)

There are certain special limits of insurance that DO NOT APPLY in the event of a loss caused by a specified peril. What items fall under this category?

PG. 6


- Numismatic property


- Jewelry/fur


- Manuscripts & Stamps


- Bikes & equipment


- Collectible cards


- Student personal property

Is there a difference in the definition of an insured person under the Property Coverage and under Liability coverage?

Yes.


Insured under Liability same as insured under property, but Liability has additions (PG. 17)

If you have watercraft coverage and you purchase a new motor for your boat, is it covered under what conditions and what is the basis of claims settlement?

Up to $5000 for 30 days


Basis of Settlement: Replacement


(PG. 50)


You have custody of a carpet owned by a friend and it is damaged by smoke from your fireplace. Is it covered under your Comprehensive Homeowner's Policy? Under what section?

Yes. (PG. 4)


Coverage C

If you go to a fair and display your knitted mittens that you hope to sell there, are they covered by your policy?

No. (PG. 10 exclusions):


We do not insure property at any fairground, exhibition, or exposition for the purpose of exhibition

If you get charged by the Fire Department for services provided to save or protect your insured property is there any reimbursement for your policy? If yes, what is covered?

Yes. (PG. 8)


Up to $1000

If you add food freezer coverage to your Secondary Dwelling and the freezer breaks down, are you covered for the food that thaws and becomes unusable?

Yes. (PG. 52)

Where are your personal actions insured by your homeowners/condo/tenants policy?

Anywhere in the world

How much is allotted under Coverage A to cover summer screen that are taken off and put in seasonal storage in the fall?

PG. 3


10% of coverage A


Coverage A = $100,00, so $10,000 covered

If you are sued for transmitting a disease to another person, are you covered?

No. (PG. 26 #8)

Is it possible to insure a musical instrument played professionally on a personal article floater?

PG. 49


We do not insure any musical instrument played for a fee unless we have given our written permission

If your laptop is on a personal computer floater and it is stolen from the back seat of your convertible while the roof was down, would it be covered?

No.


Locked vehicle warranty (PG. 57)

If you have your five wood and seven wood stolen from your golf bag, would the insurance company replace your entire set of clubs?

No. Pair and Set (PG. 63)


... in no event shall such loss or damage be constructed to mean total loss of set

Are you covered for Vandalism at your Seasonal Dwelling?

Only if you purchase it


PG. 45