Home owners Insurance

What is your home insurance IQ?

The National Association of Insurance Commissioners (NAIC) has created the Insure U–Get Smart About Insurance program to help consumers make educated decisions.  Test your home insurance knowledge by taking the following insurance quiz. 

  1. A "scheduled personal property endorsement" (also known as a "personal article floater") provides broader coverage than is typically included in your regular home insurance policy for specific expensive items. Which items would typically NOT need to be covered by a "floater?"
    1. A diamond ring.
    2. A laptop computer.
    3. An antique armoire.
    4. A fur coat.
     
  2. You have the option to insure your home and belongings for their replacement costs. Which of the following statements is TRUE?
    1. Replacement cost coverage take into account the amount of time you have owned the home or your belongings..
    2. Replacement cost coverage provides payment to replace or rebuild your home or repair damages as you please, without restrictions on the kind or quality of materials used.
    3. Replacement cost is the amount it would take to replace or rebuild your home or repair damages, without deducting for depreciation.
     
  3. You may be thinking about buying a bigger home to accommodate your growing family. Which of the following factors is NOT LIKELY to impact the price of your home policy when you move?
    1. Your new home's proximity to a fire station.
    2. The type of construction (e.g., wood, brick, stone) used in the home you purchase.
    3. The amount you paid to insure your previous home.
    4. The geographic location of your new home.
     
  4. Why do you need to inform your insurance company of backyard items, such as a swing set or trampoline?
    1. These items will attract more visitors to your home.
    2. These items are more likely to cause accidents on your property.
    3. These items are expensive and will therefore raise your premiums.
    4. These items are recoverable and can be stolen.
     
  5. There are several actions you can take to help lower your home or renter's premium. Which of the following will NOT help lower your premiums?
    1. Installing deadbolt locks.
    2. Installing fire alarms in key locations throughout your home.
    3. Baby-proofing your house.
    4. Maintaining a solid credit history.
     
  6. Which of the following actions can you take in order to help keep your premiums lower?
    1. Parking your car in a garage.
    2. Building your home close to a fire station.
    3. Not regularly filing small claims.
    4. All of the above.
     

Answers:  

1. A laptop computer.

2. Replacement cost is the amount it would take to replace or rebuild your home or repair damages, without deducting for depreciation.

3. The amount you paid to insure your previous home.

4. These items are more likely to cause accidents on your property.

5. Baby-proofing your house.

6. All of the above

your insurance promo

ira thanks

Rollover

  • Home Inventory Form
  • Insurance forms and brochures