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1.
Which of the following is likely to be covered by a homeowners insurance policy?
Fire damage. The others are "acts of God" and are therefore unlikely to be covered.
2.
A mortgage company may require you to buy separate _______ insurance in addition to your regular property insurance.
Flood. If you live in an area prone to floods, your mortgage company may require you to buy separate flood insurance in addition to your regular property insurance.
3.
Identity theft insurance will cover any amounts that are stolen from your bank accounts if your identity is stolen.
False. Identity theft insurance covers the money you spend to restore your identity, not amounts stolen during an identity theft incident.
4.
Who can purchase homeowners insurance for their home and personal property?
All of the above. You do not need to be a homeowner to have this form of insurance.
5.
Which of the following does a gap insurance policy cover on a vehicle?
The difference between the loan balance and the cash value of the vehicle. That is the meaning of the "gap."