Homework Help is Here – Start Your Trial Now!
Business
Business Law
Sue, a client, wants to know why her premium went up on her home policy as she has had no claims in the past years. What is the most appropriate explanation for the rate increase? OA) Rate increases are caused by many factors such as the price of lumber and increases in labour. OB) The insurance company took a general rate increase, everybody's insurance rates has increased. OC) Real estate prices on houses have increased. OD) Rating factors are a very complicated matter. In comparison to other companies, the client is still getting a competitive premium.

Sue, a client, wants to know why her premium went up on her home policy as she has had no claims in the past years. What is the most appropriate explanation for the rate increase? OA) Rate increases are caused by many factors such as the price of lumber and increases in labour. OB) The insurance company took a general rate increase, everybody's insurance rates has increased. OC) Real estate prices on houses have increased. OD) Rating factors are a very complicated matter. In comparison to other companies, the client is still getting a competitive premium.

icon
Related questions
Question

need help asap

Sue, a client, wants to know why her premium went up on her home policy as she has had no claims in the past 10 years. What is the most appropriate explanation for the rate increase? OA) Rate increases are caused by many factors such as the price of lumber and increases in labour. OB) The insurance company took a general rate increase, everybody's insurance rates has increased. OC) Real estate prices on houses have increased. OD) Rating factors are a very complicated matter. In comparison to other companies, the client is still getting a ve competitive premium.
Transcribed Image Text:Sue, a client, wants to know why her premium went up on her home policy as she has had no claims in the past 10 years. What is the most appropriate explanation for the rate increase? OA) Rate increases are caused by many factors such as the price of lumber and increases in labour. OB) The insurance company took a general rate increase, everybody's insurance rates has increased. OC) Real estate prices on houses have increased. OD) Rating factors are a very complicated matter. In comparison to other companies, the client is still getting a ve competitive premium.
Sheila has a homeowners insurance policy including sewer back-up, overland water extension, and an anti-concurrent clause. Following a heavy rainfall, water entered her basement window wells, and there was a sewer backup into the basement. Will Sheila's claim be covered and which coverage will apply? OA) If it is determined that water entered the window wells first then only overland water coverage will apply as there is a an anti-concurrent clause on the policy. OB) If it is determined that water entered through the sewers then sewer back up coverage will apply only as there is an anti-concurrent clause on the policy. OC) Since Sheila's policy covers both sewer back up and overland, the entire damage to the basement will be covered. OD) The entire claim would be denied as there is no ground water or surface water extension on Sheila's policy.
Transcribed Image Text:Sheila has a homeowners insurance policy including sewer back-up, overland water extension, and an anti-concurrent clause. Following a heavy rainfall, water entered her basement window wells, and there was a sewer backup into the basement. Will Sheila's claim be covered and which coverage will apply? OA) If it is determined that water entered the window wells first then only overland water coverage will apply as there is a an anti-concurrent clause on the policy. OB) If it is determined that water entered through the sewers then sewer back up coverage will apply only as there is an anti-concurrent clause on the policy. OC) Since Sheila's policy covers both sewer back up and overland, the entire damage to the basement will be covered. OD) The entire claim would be denied as there is no ground water or surface water extension on Sheila's policy.
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer