Are you smart about Property Insurance? Use this simple quiz to test your Property Insurance IQ. Choose your answers carefully, then use the form at the bottom of the page to get your results. After you have finished, choose another category. 1. You can own a home without insurance, although you generally cannot obtain a mortgage without showing proof of homeowners insurance. True False 2. Your homeowner's insurance should cover which of the following? a. The structure of your home b. Your personal possessions kept in the home c. The cost of additional living expenses if your home is damaged and you have to live elsewhere during repairs d. All of the above 3. How often should you update your homeowners' policy? a. Every day b. Once a year or whenever you remodel or add-on something significant c. Anytime you buy something for your house d. Never 4. A tree falls on your car in your yard; your homeowners' policy covers the damage. True False 5. The following steps can provide discounts on your homeowner's insurance rates. a. Installing a burglar alarm b. Hiring a security guard for your house c. Installing an approved fire protection sprinkler system d. Both a and c 6. What is renters' insurance? a. Liability coverage taken out by someone who rents an apartment or house b. Insurance on a rented automobile or watercraft c. There is no such thing. If you rent, you and your possessions are covered under the property owner's insurance d. An insurance policy aimed at covering your landlord's possessions 7. During a storm, wind knocks a neighbor's tree down and damages your fence, who is liable for the damage? a. The neighbor is liable for the damages b. The state insurance department will pay for the damages c. Your property insurance policy will pay for the damages d. Storm damage is never covered in property insurance policies 8. When having a house built, you should insure the property: a. When the house is halfway complete b. When the house is finished c. The property should be insured before construction d. After your first night in the house 9. In an actual cash value homeowners' policy, in the event of a loss or damage: a. The policy holder will receive the appraised value of the property plus 10 percent in hardship awards b. Policy owner is entitled to the depreciated value of the damaged property c. The policy owner is reimbursed an amount necessary to replace the article with one of similar type and quality at current prices. d. Actual cash is delivered to you via the mail 10. Property that you take out of your home is not covered on your homeowners' policy. True False 11. Which type of insurance policy is not available for purchase? a. Vacation b. Pets c. Wedding d. Travel e. All of the above are types of insurance available for purchase 12. Which of the following items will increase your homeowner's insurance premiums? a. Couch b. Bathtub c. Pool d. Wine rack 13. Taking inventory of your property can? a. Help you decide how much insurance you need b. Come in handy in case of you have a garage sale c. Simplify the claim process d. Both a and c Back To Top Choose Another Category