Dwelling and Coverages - Iowa Laws Rules, and Regulations Pertinent to Property Insurance Only

The FAIR Plan makes insurance available to risks that were previously considered uninsurable because of

Physical risks

The FAIR plan covers

Property

Which of the following exposures is insurable under the FAIR Plan?

Property in violation of law or public policy

A notice of cancellation is not effective unless mailed or delivered by the insurer to the named insured at least

20 days before the effective date of cancellation

A notice of cancellation for nonpayment of premium shall not be effective unless mailed or delivered by the insurer to the named insured at least

10 days prior to the date of cancellation

A notice of intention not to renew a commercial insurance policy is not effective unless mailed or delivered by the insurer to the named insured at least how many day prior to expiration date of the policy

45 days

For an increase of 25% on a renewal premium or deductible, the insurer must give how many days notice to the insured?

45 days

When the insurance company cancels an insurance policy, the return premium is usually

On a pro rata basis

When an insured requests cancellation, the return premium is usually

On a short rate basis

If the initial cash premium, or any part of the premium, has not been paid, the policy may be canceled by the insurance company by giving notice of how many days to the mortgagee?

10 days

The Standard Fire Policy would NOT insure against direct loss by

Wind

The Standard Fire Policy insures against direct loss by

Lightning

The Standard Fire Policy pays for losses on the basis of

Actual cash value

When the Extended Coverage (CE) Endorsement is added to the Standard Fire Policy, the resulting policy is the

Dwelling Basic Form (DP-1)

If specifically named in writing, the Standard Fire Policy shall cover

Bullion or manuscripts

The Standard Fire Policy would insure against direct loss by

fire, lightening and removal from premises endangered by the perils insured.