Property Insurance WEBCE|Complete with A+
Graded Answers
Homeowners Policy Broad Form 2 (HO 2)
Dwelling, other structures: homeowners policy, and personal property on a named perils basis; loss of
use, personal liability, and medical payments.
Homeowners Policy Special Form 3(HO 3)
Dwelling and other structures on an open perils basis; personal property on a named perils basis (16
specified perils); loss of use, personal liability, and medical payments.
Homeowners Policy Contents Broad Form 4 (HO 4)
For tenants of houses or apartments: personal property on a named perils basis, loss of use, personal
liability, and medical payments. No dwelling or other structures coverage except for building additions
and alterations paid for by the insured.
Homeowners Policy Comprehensive Form 5 (HO 5)
Dwelling, other structures, and personal property on an open perils basis; loss of use, personal
liability, and medical payments. The broadest homeowners coverage.
Homeowners Policy Unit Owners Form 6 (HO 6)
For owners of condominiums and cooperative apartments: personal property on a named perils basis,
limited dwelling coverage (for improvements, betterments, and items of real property pertaining
exclusively to the residence premises), loss of use, personal liability, and medical payments.
Homeowners Modified Form 8 (HO 8)
For older homes when their replacement cost may substantially exceed their market value: dwelling
and other structures based on the amount needed to repair or replace the property using common
construction materials and methods; loss of use, personal liability, and medical payments.
Motor Vehicle
Motor vehicle" is a self-propelled vehicle or trailer connected to it. This definition includes not only
automobiles but also motorcycles, self-propelled lawn mowers, and even motorized wheelchairs.
motorized vehicle
A motorized wheelchair is an example of a...
Coverage A—Dwelling
This covers the named insured's dwelling, namely, the house. It also covers structures attached to the
dwelling, such as an attached garage
Coverage B—Other Structures
This coverage protects structures on the residence premises that are not attached to the dwelling,
such as a gazebo, detached garage or tool shed, driveway, swimming pool, or fence.
Graded Answers
Homeowners Policy Broad Form 2 (HO 2)
Dwelling, other structures: homeowners policy, and personal property on a named perils basis; loss of
use, personal liability, and medical payments.
Homeowners Policy Special Form 3(HO 3)
Dwelling and other structures on an open perils basis; personal property on a named perils basis (16
specified perils); loss of use, personal liability, and medical payments.
Homeowners Policy Contents Broad Form 4 (HO 4)
For tenants of houses or apartments: personal property on a named perils basis, loss of use, personal
liability, and medical payments. No dwelling or other structures coverage except for building additions
and alterations paid for by the insured.
Homeowners Policy Comprehensive Form 5 (HO 5)
Dwelling, other structures, and personal property on an open perils basis; loss of use, personal
liability, and medical payments. The broadest homeowners coverage.
Homeowners Policy Unit Owners Form 6 (HO 6)
For owners of condominiums and cooperative apartments: personal property on a named perils basis,
limited dwelling coverage (for improvements, betterments, and items of real property pertaining
exclusively to the residence premises), loss of use, personal liability, and medical payments.
Homeowners Modified Form 8 (HO 8)
For older homes when their replacement cost may substantially exceed their market value: dwelling
and other structures based on the amount needed to repair or replace the property using common
construction materials and methods; loss of use, personal liability, and medical payments.
Motor Vehicle
Motor vehicle" is a self-propelled vehicle or trailer connected to it. This definition includes not only
automobiles but also motorcycles, self-propelled lawn mowers, and even motorized wheelchairs.
motorized vehicle
A motorized wheelchair is an example of a...
Coverage A—Dwelling
This covers the named insured's dwelling, namely, the house. It also covers structures attached to the
dwelling, such as an attached garage
Coverage B—Other Structures
This coverage protects structures on the residence premises that are not attached to the dwelling,
such as a gazebo, detached garage or tool shed, driveway, swimming pool, or fence.
