Explain Section I: Property Coverage for HO-2 and HO-3 policies
What will be an ideal response?
Answer: Section I covers four major areas important to all homeowners:
-Coverage A: Dwelling protects the house and any attachments to it.
-Coverage B: Other structures protects other structures on the premises that are not attached to the house for 10% of the insurance on the house itself.
-Coverage C: Personal property insures any personal property that is owned or used by the policyholder, regardless of the location of this property.
-Coverage D: Loss of use provides benefits, such as temporarily living elsewhere, if your home cannot be used due to an insured loss.
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