Financial Services _Çô Client Services RFC121 Chapter Notes - Chapter 8: Personal Property
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5 Jun 2018
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Learning Objective # 3
Explain the insurance coverage and policy types available to
homeowners and renters.
Homeowner’s Insurance Coverage
▪ Homeowners insurance is coverage for a place of residence and its
associated financial risks.
▪ Includes physical damage to property and the loss of use of the
property
▪ Buildings and other structures
▪ Additional living expenses
▪ Personal property / articles
▪ Personal property endorsement
▪ Household inventory
Homeowner’s Insurance Coverage
▪ Replacement Value of your home
▪ limit of insurance purchased should reflect the cost to rebuild your
home
▪ not its current market value
▪ appraisal, inspection by company
▪ Depreciated Value
▪ A reduction in the value of an object based upon its age and the
percent it has decreased each year
Homeowner’s Insurance Coverage
▪ Homeowner’s Liability coverage
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