STATE FARM HOMEOWNER POLICY FP
7955 DEDUCTIBLE EXAMS SET 2026
PRACTICE QUESTIONS AND ANSWERS
FULL SOLUTION
●● how collision works.
Answer: in a covered accident, extends beyond your own vehicle to
include temporary substitute cars, newly acquired cars, and cars your
using, but aren't owned by anyone in your household
limited to the actual cash value of the vehicle, and requires a deductible,
which is the amount you will need to pay before receiving benefits.
Higher deductibles lower your premium but increase the amount you
must pay out of your own pocket is a loss occurs. Ask yourself how
much you would be willing to pay on short notice in order to save on
your premium, or talk to your agent.
●● Comprehensive Coverage.
Answer: pays to repair or replace a covered vehicle thats stolen or
damaged by something other than collision or rolling over. Damage
caused by fire, wind, hail, flood, theft, vandalism and hitting an animal
is covered
●● how comprehensive coverage works.
, Answer: in a covered accident, extends beyond your own vehicle to
include temporary substitute cars, newly acquired cars, and cars your
using but aren't owned by anyone in your household.
Limited to the actual cash value of the vehicle, and may or may not have
a deductible, which is the amount you'll need to pay before receiving
benefits
●● liability insurance.
Answer: required by 49 of 50 states
the insurance that pays the other parties when they are hurt or their
property is damaged in an accident and the insured is considered "at-
fault"
often good idea to purchase more than the state minimum
●● liability example.
Answer: lets say you were distracted while backing out of a parking
space and didn't see the car behind you. You hit the car, slightly injuring
the driver and her passenger. After the impact, one of the two cars rolls
into a nearby fence.
In this case, you'd be considered "at-fault" insurance would pa for bodily
injury to others. These damages include medical expenses, pain and
7955 DEDUCTIBLE EXAMS SET 2026
PRACTICE QUESTIONS AND ANSWERS
FULL SOLUTION
●● how collision works.
Answer: in a covered accident, extends beyond your own vehicle to
include temporary substitute cars, newly acquired cars, and cars your
using, but aren't owned by anyone in your household
limited to the actual cash value of the vehicle, and requires a deductible,
which is the amount you will need to pay before receiving benefits.
Higher deductibles lower your premium but increase the amount you
must pay out of your own pocket is a loss occurs. Ask yourself how
much you would be willing to pay on short notice in order to save on
your premium, or talk to your agent.
●● Comprehensive Coverage.
Answer: pays to repair or replace a covered vehicle thats stolen or
damaged by something other than collision or rolling over. Damage
caused by fire, wind, hail, flood, theft, vandalism and hitting an animal
is covered
●● how comprehensive coverage works.
, Answer: in a covered accident, extends beyond your own vehicle to
include temporary substitute cars, newly acquired cars, and cars your
using but aren't owned by anyone in your household.
Limited to the actual cash value of the vehicle, and may or may not have
a deductible, which is the amount you'll need to pay before receiving
benefits
●● liability insurance.
Answer: required by 49 of 50 states
the insurance that pays the other parties when they are hurt or their
property is damaged in an accident and the insured is considered "at-
fault"
often good idea to purchase more than the state minimum
●● liability example.
Answer: lets say you were distracted while backing out of a parking
space and didn't see the car behind you. You hit the car, slightly injuring
the driver and her passenger. After the impact, one of the two cars rolls
into a nearby fence.
In this case, you'd be considered "at-fault" insurance would pa for bodily
injury to others. These damages include medical expenses, pain and
