WEBCE FARM INSURANCE COVERAGE EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED

WEBCE FARM INSURANCE COVERAGE EXAM QUESTIONS AND ANSWERS WITH COMPLETE SOLUTIONS VERIFIED coverage A the dwelling and attached structures - outdoor antennas and satellite dishes are subjuect to sublimit of $1,000 - 80% coinsurance - barn does not count as a dwelling coverage B other private structures appurtenant to dwellings - does not apply to structures used primarily for farming operations - outdoor antennas and satellite dishes are subjuect to sublimit of $1,000 coverage C Household Personal Property (non-farm) - covered on ACV basis - special limits for money, jewelry, firearms coverage D Loss of use/ additional living expenses - no deductible coverage E scheduled farm personal property - 16 types of farm property on declarations page with dollar limit for each type - ACV basis - grain, farms products and supplies, computers for farm management, equipment, machinery borrowed, livestock, bees, portable buildings EXCLUDED: growing crops, household personal property, permanent fixtures coverage F Unscheduled Farm Personal Property - coverage on ACV - coinsurance 80% - two categories: 1. on the insured location 2. away from the insured location such as grain, livestock, and farm machinery coverage G FP 00 14 Barns, Outbuildings, and Other Farm Structures - coverage for barns, silos, portable buildings, fences, outdoor radio, permanent improvements to described buildings - covered by ACV - INCLUDED EXTENSIONS: private power and light poles (1k), new construction (100k), extra expenses, water damage from plumbing EXCLUDED: land, water, field or pasture fences, below ground foundations, piers, costs of excavations Farm Property—Farm Dwellings, Appurtenant Structures, and Household Personal Property Coverage Form Coverages A, B, C, D; FP 00 12 Farm Property—Farm Personal Property Coverage Form Coverages E, F; FP 00 13 Farm Property—Barns, Outbuildings, and Other Farm Structures Coverage Form Coverage G; FP 00 14 Farm Property—Other Farm Provisions Form—Additional Coverages, Conditions, Definitions FP 00 90 6 additional coverage: debris removal, collapse, pollutant, fire department 11 loss conditions: 6 general conditions: no fraud, no neglect, liberalization clause, mortgagee clause, no benefit to bailee clause, policy period 13 definitions limit of insurance: insurer pays lesser of limit of insurance or special limit deductible section Causes of Loss Form - Farm Property FP 10 60 basic, broad, special basic: fire, lightning, explosion, windstorm, riot, sinkhole, theft, volcanic action, collision causing damage to farm machinery or livestock, earthquake or flood loss to livestock broad: all basic plus electrocution, attacks on livestock, drowning of livestock, breakage of glass, weight of ice or snow, freezing or burning of plumbing special: open perils form exclusions: windstorm to farm products in open, snow or ice damage to things in the open, explosion of equipment, theft of building materials , vacancy, transport of farm personal property, smoke, ordinance or law, earth movement, utility services, neglect, war