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The Insurance Professor (TM)

Homeowner's Insurance Quiz

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Take the Professor's Quiz! Mark your answers in the right-hand column, then press the "grade my quiz" button at the bottom. Along with your grade, the professor will link you to a page with valuable information, including definitions and a list of discounts on home insurance.

Which of the following types of home construction will have the lowest insurance rate?(A) Frame
(B) Stucco
(C) Masonry or Brick
(D)
If you are unable to occupy your home due to a covered loss, which coverage will pay for the increase in your living expenses during repair?(A) Rental Reimbursment
(B) Additional Living Expense Coverage
(C) Inflation Adjustment
(D) None--usually not covered
If your toolshed is damaged by a storm, which of your homeowners policy coverages will pay for the damage?(A) Additional Structures
(B) Comprehensive
(C) Liability
(D) Requires special government policy
While at a friend's home, you break an expensive lamp. Which of your homeowner's policy coverages will pay for it's replacement?(A) Guest Medical
(B) Liability
(C) Replacement Cost Coverage
(D) Requires special government policy
If your home is damaged in a flood, which part of your homeowner's policy will cover the damages?(A) Comprehensive
(B) Liability
(C) Dwelling
(D) Requires special government policy
Electing a higher deductible usually(A) Reduces your loss from a covered peril
(B) Lowers your insurance premium
(C) Increases the amount of household goods covered
(D) Raises your insurance premium
With a deluxe homeowner's policy, typically your home is covered for all risks except(A) Vandalism
(B) Wind
(C) Hail
(D) Those which are specifically excluded
When insuring your home and contents, the best type of coverage is(A) Actual Cash Value (after depreciation)
(B) Full Replacement Cost
(C) It depends
(D) They are equivalent
If you have large amounts of jewelry, furs, computers, silverware, coin collections, guns, or other specialty items, you can expect full coverage(A) only if you speak with your agent about them
(B) automatically
(C) for fire but not theft
(D) under no circumstances


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