Which of the following statements is true concerning the special form dwelling policy?

a) Coverage A is for all-risk perils, and Coverage C is for basic perils only.

b) Coverage A is for all-risk perils, and Coverage C is for the broad form perils.

c) Both Coverage A and Coverage C are provided on an all-risk basis.

d) Both Coverage A and Coverage C are provided for the broad form perils.

Answer: A

Insurance Property and Casualty

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

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