Short Paper – analysis of your own personal auto or homeowners policy, comparing and contrasting it...

Question

Short Paper – analysis of your own personal auto or homeowners policy, comparing and contrasting it with the discussion of these policies in the text in 3-5 pages

Robert · Accepted Answer

Analysis Of Insurance Policies
Introduction 
All Insurance policies are subjective to the conditions stipulated. All direct physical losses are 
included in the insurance policy coverage except the losses which are specifically excluded 
below in the coverage section.  
House Owner Policy 3  
The Policy covers the direct physical loss to dwelling (House/Flat/Apartment) and related 
structures. Personal property is covered on a named perils basis. The House Owner policy 3 
includes the following persons as "Insured"   
 Person named in the policy and Spouse  
 Resident Relatives  
 Other Person under age 21  
 Full-time student away from home  
The coverage form covers the House/flat on the residence premises and any structured 
attachment to it e.g. construction material, Land is specifically excluded and the other 
physical structures on the residence premises i.e. detached garage Tool Shed. Rented out 
structures and structures used for a business are specifically excluded (Kurtz, S. M., Ong, K. L., 
Lau, E., & Bozic, K. J., 2014).  
Amount for Coverage B is limited to the insurance amount on the house/flat. Under Cover C, 
the personal property of property used by the insured person is covered. Physical address of 
the property can be anywhere in the world. It specifically excludes animal, motor Vehicles, 
aircraft, property of Roomers/ Boarders and other Tenants, property in rented apartment, 
business records, water or steam. The amount of Coverage c is limited to 50% insurance 
amount on the house/flat (Coverage A) but can be increased. Coverage C at another residence 
i.e. Vacation Home is restricted to 10% of above Coverage C value or maximum 1,000( Kurtz, 
S. M., Ong, K. L., Lau, E., & Bozic, K. J.).

Short Paper – analysis of your own personal auto or homeowners policy, comparing and contrasting it with the discussion of these policies in the text in 3-5 pages

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment